Trust Accounting 101
The Foundation Every PM Needs
The property manager’s accounting resource
Your books
should be as
solid as
your units.
TrustKeeping is the free accounting encyclopedia, training hub, and live webinar series built exclusively for property managers. Stop guessing. Start knowing.
- 200+
- Free resources
- 12
- Webinars / year
- 4,800+
- PM members
Next live webinarTrust Accounting 101May 14, 2026: 12:00 PM EST · Free
01 / Encyclopedia
The PM
accounting
encyclopedia
Over 200 free articles, guides, and checklists written specifically for property managers: covering trust accounting, owner reporting, tax compliance, software setup, and audit readiness. No jargon. No paywalls.
Every property managed. Every dollar accounted for.
02 / Webinar series
12 months.
12 sessions.
All free.
Every month, TrustKeeping hosts a live 60–90 minute webinar on a core accounting topic for property managers. Recordings stay free forever. No certification required.
60 min412 registeredWatch
3-Way Reconciliation Mastery
Never Fail an Audit Again
Owner Statements That Build Trust
Reporting That Retains Clients
Security Deposit Deep Dive
Compliance Across Every State
1099s & Vendor Tax Reporting
File Right. Avoid Penalties.
Chart of Accounts for PMs
Build a Bookkeeping Foundation
PM Software Accounting Setup
AppFolio, Buildium & Beyond
Late Fees, Rent & Revenue Recognition
When Does Money Become Income?
Maintenance Reserves & CapEx
Planning for the Long-Term
State Licensing & PM Fee Tax
Are You Collecting Sales Tax?
Year-End Accounting Checklist
Close Your Books Like a Pro
Audit-Ready Property Management
Survive & Thrive Under Review
03 / Case studies
Real problems.
Real fixes.
These are the accounting situations property managers actually face. See how firms used TrustKeeping resources to identify, correct, and prevent costly bookkeeping mistakes.
2025 · Ridgeline Property Management$47K
Commingling penalty avoided
Single-Family Portfolio: 180 Units
A mid-sized PM firm discovered their property management software had been depositing maintenance refunds into their operating account instead of the trust account for 14 months. Using TrustKeeping’s 3-Way Reconciliation guide and audit checklist, they self-identified the error, corrected the records, and avoided a state licensing board complaint.
Download: Trust account error correction checklist ↗2025 · Pacific Coast PM Group0
Audit findings after DRE review
Multi-Family Portfolio: 620 Units
After receiving notice of a Department of Real Estate trust account audit, the operations manager spent two weeks working through TrustKeeping’s audit prep series. The firm passed with zero findings: the first clean audit in their 12-year history.
Download: DRE audit prep checklist ↗2024 · Cornerstone Residential6 Hrs
Month-end time saved per property
Scattered-Site Portfolio: 340 Units
After completing TrustKeeping’s Chart of Accounts webinar and implementing the recommended account structure in Buildium, Cornerstone cut monthly owner statement preparation time by over 60%: freeing their bookkeeper to manage 40% more units.
Download: PM chart of accounts template ↗04 / Free training
Learn at your
own pace
Three structured learning tracks for every experience level. All content is free, built by CPAs who specialize in property management accounting, and updated annually for regulatory changes.
Beginner track
Start here. Learn the vocabulary, the core concepts, and the compliance basics every property manager must know before managing a single dollar.
- What is a Trust Account?
- PM Accounting Vocabulary
- Setting Up Your Chart of Accounts
- Your First Bank Reconciliation
Intermediate track
Go deeper. Master 3-way reconciliation, owner statement reporting, 1099 compliance, and common software configurations.
- 3-Way Reconciliation Mastery
- Owner Statements That Retain Clients
- 1099 Filing for PMs
- AppFolio & Buildium Setup
Advanced track
Protect the firm. Build internal controls, prepare for state audits, manage multi-entity accounting, and scale your bookkeeping infrastructure.
- Internal Controls for PMs
- State Audit Preparation
- Multi-Entity & Multi-State Accounting
- Year-End Close Process
Free downloads
Trust Account Reconciliation ChecklistMost DownloadedPDFPM Chart of Accounts TemplateXLSXSecurity Deposit Compliance Guide by StatePDFOwner Statement TemplateDOCX1099 Filing Checklist for Property ManagersPDFDRE Audit Prep ChecklistPDFYear-End Accounting ChecklistPDFVendor Invoice Workflow TemplateXLSXFree access with TrustKeeping membership.Who built this?
TrustKeeping is developed by CPAs and property management consultants with combined decades of experience in PM accounting, state licensing compliance, and real estate bookkeeping systems. All content is reviewed annually.
05 / Join free
Get free
access
Create your free TrustKeeping account and instantly unlock the full encyclopedia, all webinar recordings, every training track, and all downloadable templates.
- 200+ accounting articles & guides
- 12-month live webinar series (all recordings free)
- Beginner, Intermediate & Advanced learning tracks
- 8+ downloadable checklists & templates
- Monthly newsletter with regulatory updates
Questions?hello@trustkeeping.ai