LedgerMatch
Bank Reconciliation for Property Management Companies in Memphis, TN
A practical CSV-based bank-to-ledger workflow for property management companies bookkeepers serving businesses in Memphis.
Bookkeeping context in Memphis
Memphis is a major logistics and distribution hub — home to FedEx's global headquarters — alongside a large healthcare and music industry sector. First Horizon Bank (formerly First Tennessee) and Regions Bank are the dominant commercial banks in Memphis. LedgerMatch handles both CSV formats and reconciles Memphis business accounts against QuickBooks or Xero in under 10 minutes.
Property Management Companies reconciliation workflow
Property management companies operate with multiple bank accounts — a trust account holding tenant security deposits, an operating account for management fees and expenses, and often a separate account for each property owner. Each account needs its own monthly bank reconciliation. LedgerMatch helps property management bookkeepers reconcile all of them — matching rent deposits, security deposit movements, owner disbursements, and maintenance vendor payments against QuickBooks or AppFolio ledger exports in under 10 minutes per account.
Local and industry considerations
- Tennessee has no state income tax on earned income, but Memphis businesses pay the state franchise and excise tax — accurate monthly reconciliation supports accurate F&E filings.
- Security deposit trust accounts must reconcile independently from operating accounts, and owner disbursements must match distribution statements exactly — errors in either account can create legal liability for the property manager.
Common banks and accounting tools
- First Horizon Bank
- Regions Bank
- BancorpSouth
- Wells Fargo
- Chase
- Bank of America
- QuickBooks Online
- AppFolio
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