Our role
Designed chart of accounts using the Trust Accounting Approach to separate client and company funds.
Description
Developed a tailored Chart of Accounts for a rental management company using the Net Revenue and Trust Accounting approach. In this method, guest receipts are recorded as liabilities since funds are held on behalf of property owners. Only the management commission or service fee is recognized as revenue. This ensures clear separation between company funds and client funds, supports transparency, and aligns with trust accounting standards for property managers handling owner money.