Reconcile Your Bank Accounts
I know for a fact that there are companies that do not do monthly reconciliations. Property Managers don’t recognize the importance of reconciling their bank trust accounts. To think about reconciling your bank accounts, you’ll think about a 3-way reconciliation. It is an audit requirement to reconcile your bank trust accounts in many states.
A 3-way reconciliation and Triple Tied Out
We want you to know that a 3-way reconciliation and Triple Tied Out in Appfolio are key phrases that you will often hear in regards to Property Management Trust Accounting. It would be an honor if you took a bit of time to review an article that I’ve written on our blog at https://www.apmhelp.com/blog/2019/07/08/triple-tied-out-three-times-a-charm/. Watch our video tutorial on the topic of a 3-Way Reconciliation and TTO at https://youtu.be/7jb3HJxVAx0. If you understand the message of the content described in these lessons, you will reconcile your bank accounts.
It’s Important to Reconcile Your Bank Accounts
We want to impress on you that it’s important to reconcile your bank accounts. You need to be aware that some states have an auditing agency requiring forms to be filled out on a monthly basis. If these compliance regulations are not fulfilled, there can be subsequent penalties.
Find out more about how to keep your books clean and to avoid the auditor. Call for a free 30-minute consultation at (281) 949-8755 or email us at info@APMHelp.com. Visit us on our Facebook Page for Triple Tied Out at www.facebook.com/TripleTiedOut/ and be sure to say “Hi” or ask any questions that you may have.
We look forward to hearing from you,