LedgerMatch
Bank Reconciliation for Property Management Companies in Richmond, VA
A practical CSV-based bank-to-ledger workflow for property management companies bookkeepers serving businesses in Richmond.
Bookkeeping context in Richmond
Richmond is Virginia's capital and a major financial services hub, home to Capital One's technology operations and Atlantic Union Bank's headquarters. Financial services, healthcare, and government contracting are Richmond's dominant industries. LedgerMatch handles Atlantic Union Bank's CSV format alongside all major national bank exports, reconciling Richmond 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
- Virginia has a 6% corporate income tax and businesses pay the state's business personal property tax — accurate monthly reconciliation supports both annual 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
- Atlantic Union Bank
- Wells Fargo
- Bank of America
- Wells Fargo
- Chase
- Bank of America
- QuickBooks Online
- AppFolio
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