Feature
Accounting, trust controls and reporting
A real general ledger under the operations — balanced journal entries, a trust invariant that is checked rather than assumed, period close, bank matching, and exports your accountant can use.
The problem
Trust accounting is where property managers get into trouble.
Not from fraud — from drift. Deposits held, owner funds and operating cash blur when the ledger is a report bolted onto a payments tool. The invariant should be checked by software every day.
- Deposit liability and cash held disagree and nobody notices until an audit.
- Month-end is a re-key into QuickBooks.
- Bank statements are reconciled in a spreadsheet.
- Reports for a closed month change when someone edits history.
The workflow
Post → check → close → export
- Everything posts to the GL
Payments, charges, adjustments, expenses and deposits generate balanced postings; journal entries must balance or are rejected.
- Run the trust invariant
Trust-account liabilities (deposits held, due to owners) must equal held funds. It is a report you can open and a job that runs.
- Match the bank
Import a statement CSV, match lines to payments, see what is unexplained.
- Close the period
Lock postings; reports for closed periods are deterministic.
- Export
QuickBooks Online (QBO), CSV and 1099 data for the year — for your accountant, not a two-way sync.
Illustrative trial balance. The trust invariant compares liabilities to held funds on the same rows.
Capabilities
What is built, what needs configuration, what is planned
Each row is a real capability in the current build. Labels are derived from the codebase and its test suites, not from a roadmap deck.
How to read the labels
- Built
- Implemented in the current build and covered by its test suite.
- With configured integration
- Implemented; a live outcome requires a provider you configure (keys, contract, or credentials).
- Pilot
- Implemented in part and enabled per pilot customer with tuning.
- Planned
- On the roadmap. Not sold or promised today.
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General ledger with balanced postings
BuiltAppend-only GL entries, journal entries that must balance, trial balance, P&L and balance sheet.
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Trust invariant check
BuiltA dedicated check that trust-account liabilities reconcile to held funds, exposed as a report and run as a job.
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Period close
BuiltClose a period to lock postings; reports for closed periods are deterministic.
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Bank statement import and matching
BuiltCSV statement import with line-to-payment matching.
-
QuickBooks Online, CSV and 1099 exports
BuiltPeriod exports for your accountant; no live two-way sync.
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Standard reports
BuiltRent roll, vacancy, delinquency, P&L, cash flow, deposit liability, management fees, owner distributions, budget vs actual, turnover — CSV export on each.
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Check printing and bill-pay queue
PlannedAccounts-payable checks and print-and-mail.
By role
What each party gets
Accounting
Balanced postings, a checkable invariant, period close and bank matching in the operating system — not beside it.
Property managers
Standard reports (rent roll, vacancy, delinquency, turnover, budget vs actual) without a data pull.
Owners and CPAs
Exports and statements that reconcile because they come from one ledger.
Configuration and pilot notes
Before you rely on it
Things that are set up per operator during a pilot, or that depend on a provider you contract.
- Chart of accounts and fund structure are set during pilot onboarding; multi-bank trust setups are mapped with the ResidentAxis team.
- Exports are files, not a live QuickBooks connection.
- Check printing, an AP bill-pay queue and print-and-mail are planned.
- ResidentAxis records money movement; it is not a bank, trust company or payment processor.
Questions about this area
Is this a replacement for QuickBooks?
For property-level and trust accounting, yes — the GL, reports and close live here. Many operators keep QuickBooks for the management company’s own books and import the QBO export.
What is the trust invariant, exactly?
A check that the sum of trust liabilities equals the trust funds held, as of any date. If it fails, the report shows the difference and the postings involved.
Related
Connected areas
See accounting & trust on your portfolio.
A pilot starts with a discovery call and your CSV exports. We reply within two business days.