Business Background
The client is a privately held real estate investment and property management firm operating a residential portfolio of 8 properties and 1,278 units. Like many real estate operators who have grown rapidly, the business had scaled far ahead of its back-office infrastructure. Their real estate accounting setup was built for a smaller operation and had never been restructured to match the complexity of a multi-property, multi-tool portfolio.
The firm runs across four platforms — ResMan for property management, AvidXchange for accounts payable, Ramp for corporate card spend, and QuickBooks Online as the general ledger. With 49 bank and credit card accounts spread across all 8 properties, the need for structured, dedicated real estate accounting was clear — but the infrastructure to execute it didn’t exist.
When the client engaged GATP Solutions, the ask was direct: clean up the historical books, take over the monthly close for all 8 properties, and build the reporting framework needed to support investors and lenders going forward.
Key Challenges
Scale and Complexity
- 49 bank and credit card accounts, each with unique transaction volume, vendor relationships, and reporting requirements — none fully reconciled
- Historical backlog of unresolved transactions blocking a clean monthly close
- No per-property P&L or Balance Sheet — only consolidated figures with no property-level visibility
- No DSCR tracking, no budget vs. actual reporting, and no 13-week cash flow forecast in place for lender conversations
Operational Gaps
- AvidXchange AP invoices not being processed on a systematic cadence — leading to payment delays and vendor friction
- Ramp credit card transactions left uncoded and unreconciled for extended periods
- ResMan daily entry falling behind the volume of rental transactions across the portfolio
- Utility billing, intercompany transactions, and security deposits tracked inconsistently across properties
- 1099-NEC filing not structured for a portfolio of this size
In short, the client had a real estate accounting function that couldn’t keep pace with the portfolio — and lacked the financial infrastructure to support the capital conversations the business was ready to have.
Impact
|
49 Accounts Reconciled |
1,278 Units Covered |
8
Properties Unified |
3–5 Dedicated Resources |
These numbers represent the operational scope GATP Solutions manages on a monthly basis — a level of real estate accounting execution that no single in-house bookkeeper could sustain at this portfolio size.
Requirements & Expectations
Before GATP designed a solution, we mapped the client’s non-negotiables:
- Clean, reconciled books — historical backlog resolved before any ongoing engagement began
- Per-property financials — P&L and Balance Sheet at the individual property level, not just consolidated
- Lender-grade reporting — DSCR tracking, audit-ready workpapers, and covenant compliance visibility
- Investor reporting infrastructure — distribution support and investor packages that build stakeholder confidence
- Real-time cash visibility — weekly cash position reporting and a rolling 13-week forecast
- Systematic AP and card processing — AvidXchange and Ramp managed on a consistent cadence
- 1099-NEC compliance — all contractor payments tracked and filed on time across the portfolio
These requirements defined the standard for what real estate accounting at this portfolio scale actually demands — and shaped the two-track engagement structure GATP built in response.
Strategic Approach
GATP Solutions structured the engagement as two connected but independently scoped tracks. This meant the client could prioritize backlog resolution without delaying the build-out of ongoing real estate accounting operations — and could evaluate each track on its own merits.
Track 1 — Historical Backlog Cleanup (One-Time, Fixed Fee)
A full diagnostic of the QuickBooks Online file across all 8 properties preceded any cleanup work. The phased remediation covered:
- Chart of Accounts rebuild — standardized across the entire portfolio for consistent real estate accounting at the property level
- Balance sheet reconstruction — opening balances matched, prior-period corrections executed
- Bank and credit card reconciliation for all 49 accounts
- AP aging review — outstanding payables identified and aged items resolved
- AR-Other cleanup — non-tenant receivables reconciled and cleared
- Security deposit tie-out — balances reconciled against property-level records
- Intercompany balances matched and cleared across all 8 properties
- Prior-year tax coordination — workpapers prepared and handed off
Track 2 — Full Monthly Close Takeover (Ongoing, Recurring)
With the books stabilized, GATP assigned a dedicated full-time team of 3–5 resources to run the complete month-end close across all 8 properties. This is real estate accounting at operating scale — not reactive catch-up, but proactive infrastructure management month over month.
Comprehensive Solution
GATP’s ongoing monthly workflow delivers the full spectrum of real estate accounting operations:
| Service Area | What GATP Delivers |
| Daily Transactional Accounting | ResMan daily entry — rental income, move-ins, move-outs, and adjustments recorded in real time |
| Accounts Payable | AvidXchange AP processing — invoices reviewed, coded, and payments executed on behalf of the client |
| Corporate Card Management | Ramp credit card coding — all transactions categorized and reconciled monthly |
| Bank Reconciliation | All 49 accounts across all 8 properties tied out before close, every month |
| Per-Property Reporting | P&L and Balance Sheet at the individual property level — clean and delivered on time |
| Cash Management | Weekly cash position reporting and a 13-week rolling cash flow forecast |
| Lender Reporting | DSCR tracking, covenant compliance visibility, and audit-ready workpapers |
| Investor Relations | Investor distribution support and quarterly investor reporting packages |
| Budget vs. Actual | Monthly variance commentary — performance vs. plan with narrative context |
| Year-End & Tax | 1099-NEC filing for all contractor payments; clean year-end book file for external review |
Measurable Results
- All 49 bank and credit card accounts reconciled every month across all 8 properties — no exceptions
- Per-property P&L and Balance Sheet delivered on time, every month — full real estate accounting visibility across the portfolio
- DSCR tracking and lender reporting in place — client can respond to any capital request without scrambling
- Investor distribution support and quarterly investor packages delivered on schedule
- 13-week cash flow forecast and weekly cash position reporting replace backward-looking snapshots
- AvidXchange AP processing managed by GATP — vendors paid on time, zero payment delays
- 1099-NEC compliance handled for all contractor payments across the full portfolio
- Audit-ready book file maintained year-round — clean, tied-out, and ready for any external review
Key Takeaway
Multi-property operators don’t just need reconciled bank accounts. They need real estate accounting infrastructure that operates at portfolio scale — with property-level financials, lender-ready books, and investor reporting that gives stakeholders genuine confidence.
At scale, real estate accounting isn’t bookkeeping. It’s investor relations, lender compliance, operational cash management, and strategic planning — all running in parallel, every month. The right accounting partner builds the infrastructure that makes everything else possible.
A dedicated real estate accounting team that knows your tools — ResMan, AvidXchange, Ramp, QuickBooks Online — and understands how a multi-property portfolio operates doesn’t just reduce your admin burden. It becomes a competitive advantage.
Client Impact
| Impact Area | Outcome |
| From Fragmented to Unified | Eight properties previously running on disconnected books now produce consistent, comparable monthly financials — delivered on time, every month. |
| Lender-Ready at Any Time | DSCR tracking, lender reporting, and audit-ready workpapers mean the client responds to capital requests without scrambling or delay. |
| Investor Confidence | Distribution support and quarterly reporting give stakeholders the real estate accounting visibility they expect from a professionally managed portfolio. |
| AP Under Control | AvidXchange processing managed by GATP means vendors are paid on time — protecting vendor relationships and eliminating payment friction. |
| Cash Visibility | The 13-week rolling forecast and weekly cash position reporting deliver real operational clarity, not just historical data. |
| Scalable Infrastructure | The real estate accounting structure is built to grow — adding properties doesn’t add accounting complexity for the client’s team. |
Let’s Talk
If you’re managing a growing real estate portfolio and your real estate accounting infrastructure hasn’t kept pace, you already know the pain: unreconciled accounts, delayed reporting, and financials that aren’t ready when lenders or investors need them.
GATP Solutions builds the real estate accounting infrastructure that scales with you — from one-time backlog cleanup to full monthly close to investor-grade reporting. Whether you operate 2 properties or 20, the right financial infrastructure is what separates operators who can raise capital from those who can’t.
