We are able to provide your brokerage with the accounting, tax and support you need to continue to be successful.
Operating a real estate brokerage can be time consuming, and often times the last thing an owner wants to think about is the accounting. At Edward & Manning, we have the expertise to assist in optimizing your operations to make the accounting less worrisome and time consuming. This translates into more time helping your clients.
As a licensed brokerage in Ontario, there is a requirement to maintain two separate bank accounts – an operating account and a trust account. When there are multiple agents, it is also a good idea to have a separate commission account. As well, there are rules surrounding when the funds can be transferred or released. As part of the financial statement preparation, Edward & Manning will ensure that these accounts are being used accurately.
Edward & Manning can assist you with the following:
- Timely bookkeeping
- Trust account reconciliation
- Commission calculation to agents
- Annual financial statement preparation
- Ongoing tax planning and guidance
- Organizational optimization