Define the report population
Keep account identifiers, date filters and relevant closed records visible. Do not assume a plausible total is a complete export.
Check the export →PROPERTY-MANAGEMENT BOOKKEEPING
Three balances.
One explainable
comparison.
Bring the adjusted bank balance, trust books and beneficiary ledgers into the same view. DaxSync helps you keep the comparison—and the evidence behind it—clear.
RECONCILIATION / WORKING PAPER01
One account. One cut-off.Illustrative balances
A
ADJUSTED BANK$84,250Statement + supported timing items
B
TRUST BOOKS$84,250Matching account and reporting date
C
BENEFICIARY DETAIL$84,250Complete relevant ledger population
Comparison difference$0.00
Matching totals do not prove every underlying entry is correct. Keep the sources and exceptions with the comparison.
WHAT THREE-WAY RECONCILIATION MEANS
Bank to books.
Books to beneficiary detail.
Three-way reconciliation compares the adjusted bank balance, the trust-book balance and the total of the relevant beneficiary ledgers for the same account and date. The account boundary and report population come first.
Walk through a supported example →A COMPARISON YOU CAN REPRODUCE
The total is one part.
The trail is the other.
Retain the exact packet
Save the bank statement and the reports actually reviewed, with export times and a version for later changes.
Assemble the packet →Give every difference a next step
Separate observations from suspected causes. Record the supporting evidence, responsible person and next action.
Build the exception log →KEEP THE RECORDS BESIDE THE TOTALS
A three-balance workpaper, ready to use.
A blank operational worksheet for the comparison and its unresolved items. It is not a state compliance form.
Open the workpaper ↗REFERENCE DESK
Work through a specific question.
FROM THE REFERENCE DESK
Check an owner-ledger export before three-way reconciliation
Test report filters, missing ledgers and control totals before comparing owner balances with the trust books. Includes an offsetting-error example.
Read the guide →FROM THE REFERENCE DESK
Review outstanding checks without losing the payment trail
Build a monthly outstanding-check rollforward that separates cleared payments, unresolved items and authorized corrections for property-management books.
Read the guide →FROM THE REFERENCE DESK
Reconcile a management-fee transfer across two sets of books
Trace a fee batch from property detail to the trust payment and operating-bank receipt, without duplicating revenue or losing owner allocations.
Read the guide →CLARIFY THE SCOPE
Property-management
bookkeeping questions.
Ten answers about report scope, differences and the work behind three-way reconciliation.
01What is three-way reconciliation in property management?
It compares the adjusted bank balance, the trust-book balance and the total of the relevant beneficiary ledgers for the same account and cut-off date. The report population and supporting adjustments must be defined before the comparison means anything.
See the three-balance example →02How does it differ from an ordinary bank reconciliation?
A bank reconciliation compares the bank with the corresponding books. The third comparison adds the relevant owner, tenant or other beneficiary detail. Agreement between bank and books alone does not establish that the detailed ledgers are complete or correctly allocated.
Review the service scope →03Which reports should be in the reconciliation packet?
Start with the bank statement, supported reconciling items, trust-book report and relevant beneficiary detail. Save the report filters, account, cut-off date and export time. The specific report names depend on your system and the agreed account scope.
Prepare a consistent packet →04Why can an owner-ledger export be incomplete even when its total looks right?
Filters can leave out closed records or include the wrong account population. Offsetting omitted balances can leave the total unchanged. Check identifiers and record counts as well as the final number, and explain how property and owner records map together.
Check an owner-ledger export →05What happens when the three balances do not agree?
Record the difference and the evidence needed to investigate it. A bank-to-book difference and a book-to-beneficiary difference can lead to different checks. Keep any proposed correction subject to the appropriate review; an unexplained balancing entry does not explain the records.
Build an exception log →06Do matching totals prove every transaction is correct?
No. Offsetting errors or entries assigned to the wrong beneficiary can still produce matching totals. Retain the source reports, review the ledger population and keep unresolved questions visible beside the comparison.
Open the workpaper →07How do outstanding checks stay traceable?
Keep a rollforward from the prior list through cleared, new and unresolved items, with payment references and supporting statements. If a payment is replaced, preserve the link to the original. The guide does not determine legal deadlines or authorize voids.
Review outstanding checks →08Can you reconcile management-fee transfers?
Yes, within an agreed bookkeeping scope and using approved fee detail. A bridge connects the property-level allocation, the transfer and the operating-book record. It also checks whether income was already recognized, so one transfer is not counted twice.
Follow a management-fee transfer →09Can you help with previous months that were never reconciled?
Cleanup starts by locating the last supported comparison and the source records for the periods after it. The backlog, access limitations and current-month work are scoped together. Completion timing depends on the records available and the differences found.
Explore reconciliation cleanup →10Does this service certify compliance with state trust-account rules?
No. DaxSync provides bookkeeping and reconciliation support. State-specific legal requirements, entitlement to funds and regulatory interpretations are outside these operational guides. Your responsible professional confirms those requirements and any approval authority.
Understand DaxSync’s role →