Property Accounting & Reporting

Canreal is licensed under the Real Estate Services Act of British Columbia and the Real Estate Act of Alberta. With the use of Spectra for Windows, a computerized property management accounting system and database we are able to handle all statutory and client requirements in an accurate and timely manner.

Key accounting functions include establishing separate trust accounts for each client so there is no co-mingling of funds, preparing annual property budgets, administering and tracking accounts payable and accounts receivable, performing annual operating cost reconciliations, collecting and remitting HST/GST and remitting non-resident tax on behalf of non-resident clients. Property accounting can be done on a cash basis or on an accrual basis.

We prepare reports and financial statements to keep our clients up to date on all activities relating to their properties. Our monthly reports typically include the following information:

  • Variance Reports
  • Cash Flow Statements
  • Trust Statements
  • Balance Sheets
  • Income Statements
  • Trial Balances
  • Leasing Reports
  • Rent Rolls
  • Accounts Receivable Transaction Summaries
  • Accounts Payable and Disbursement Reporting
  • Bank Account Statements
  • Bank Reconciliations
  • Detailed Journal Reports of the General Ledger Bank Account

Speak to a member of our property management team. Contact us.