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Accounting for Real Estate TeamsKnow what your business really keeps, and what to change.
For real estate teams and brokerages across canada
Your brokerage shows what you produced. Your books show what you spent. We put the two together, so you see the whole business and know what to change to keep more.
Book an intro meetingWhat is included
What we do, and how often
One team keeps your books in QuickBooks Online and files your taxes.
Monthly profit report
Every monthWhat the business kept from every deal, after splits, fees and costs.
Production and financial review
Every quarterWe do not just send reports. Each quarter we go through them with you and agree on the two or three changes to make.
Setup
OnceA chart of accounts built for splits, sides and referral fees. Bank feeds and receipts connected.
Monthly close
Every monthBank, cards and brokerage production reconciled, so the numbers in your report are right.
Payroll
Every pay runStaff, agents on splits and contractors. T4s and T4As on time.
HST and CRA
On scheduleReturns and instalments filed. We answer routine CRA letters for you.
Corporate tax return
Every yearFiled by the same firm that keeps your books.
Lender statements
When askedThe financial statements your lender wants, from books we already keep.
- One fixed monthly feeYou see the price before any work starts.
Getting started
From first look to monthly routine in 30 days
You see a fixed price before any work starts.
Step 1
Review
Your last 12 months and your brokerage reports.
Step 2
Rebuild
A new chart of accounts around how your business works.
Step 3
Clean up
This year’s books cleaned up. Older years quoted separately.
Step 4
Monthly routine
Close, match and report. Every month.
Why it matters
Books kept for tax time cannot run a business
Tax-time books show what you paid. They do not show what each deal leaves behind, what each agent costs, or how much of the profit is your own sales.
So every month, we bring your books and your brokerage production together into one picture.
We work from your brokerage’s reports, including Lone Wolf Back Office (brokerWOLF).
What you see
Numbers you can run the business on
On paper, many teams look profitable. Take out the leader’s own sales and a fair salary for the owner, and you see the real business.
01
Listing or buyer side
What a listing side is worth to the business compared to a buyer side.
02
Cost per deal
What each closed deal costs to produce, by side and lead source.
03
Each agent
What each agent brings in after what that agent costs.
04
Your own sales
How much of the business still runs on your own sales, month by month.
- In your monthly profit report and your quarterly review.See Team Production & Reporting
Questions
Six quick answers
Still have a question? Ask us in an intro meeting.
Do I have to replace my bookkeeper?
Usually, yes. Matching your books to brokerage production every month is hard to run across two firms.
What software do you use?
QuickBooks Online for the books. If you already use it, we work in your file. For production, we work from your brokerage’s reports, including Lone Wolf Back Office (brokerWOLF).
My books are behind. Is that a problem?
It is common and fixable. Catch-up work is quoted by year, separate from the monthly fee.
Do you work with brokerages too?
Yes. For brokerages on Lone Wolf Back Office (brokerWOLF), we match the back office to QuickBooks every month.
Where are you?
Kitchener, Ontario. We work with clients in Ontario, Alberta and BC through a secure portal.
What does it cost?
A fixed monthly fee, based on the number of agents and companies. You get a price range in writing after your first call. See pricing.
Find out what your books are missing.
A 15-minute intro meeting with Hashim Awad, CPA. Tell us how your business is set up. We tell you what we would look at first.
Related: Team Production & Reporting, Payroll, Corporate Tax Returns