Frequently Asked Questions

You may come across outsourced accounting also described as Client Accounting Services (CAS). As explained by Accounting Today, CAS simply means that a client hands over most—or even all—of their accounting responsibilities to an outside accounting firm. CAS typically falls into three main categories:

• Bookkeeping services
• Controller services
• CFO services

Outsourced accounting closely resembles CAS. At Raises.com Accounting, we provide outsourced accounting specifically for real estate investors. Our team manages the accounting needs of thousands of investors through our real estate advisory, tax preparation, and outsourced accounting services.

When partnering with an outsourced accounting firm, you typically transfer part or all of your daily accounting tasks to that CPA firm. Your new partner will establish a digital-first accounting system designed to effectively monitor your company’s performance. Ongoing maintenance of this system will be handled by your outsourced accountant.

Depending on which service level you choose, outsourced accounting often includes monthly financial reports and bank reconciliations. Many firms also offer on-demand advisory services to help you make sound financial decisions that maximize your returns.

Delegating your accounting tasks to a qualified professional offers numerous benefits, such as:

• Saving time and money
• Eliminating the need to recruit an internal team
• Gaining access to industry best practices
• Receiving solid financial guidance from trusted experts

Our monthly accounting services are geared toward individuals or companies that are already established or seeking growth.

Expert Advice: If you’re looking for help making smart choices to expand and refine your operations, our services can offer valuable expertise and direction.

Real estate specialization: Our staff comprises real estate specialists who can efficiently convey relevant insights to our in-house tax preparation and strategy teams. This ensures your accounting procedures are aligned with the specific requirements of real estate.

By outsourcing your real estate accounting to us, you can channel your energy into higher-priority areas instead of spending time and resources training and overseeing in-house accounting personnel. You also gain access to a team of professionals committed to driving your business forward and helping you make strategic financial decisions.

During scheduled calls, our controllers concentrate on ensuring your financial records are accurate, reviewing your business activities, and going over monthly outcomes. These sessions enable you to ask questions, address any concerns, and obtain valuable perspectives on your financial state.

By selecting CFO services, discussions can focus more on upcoming initiatives—such as expansion strategies, financing approaches, or investor-related matters. Our aim is to deliver individualized support and strategic counsel that guides you toward well-informed financial decisions.

In broad terms, CFO services are more forward-looking, while Controller services emphasize examining previous results.

Bill payment and payroll setup are both optional add-ons for our Controller and CFO packages.

If you require assistance with bill payment, we can configure your system, provide training, and offer ongoing guidance to your team, ensuring accurate and timely payments. Similarly, if you need payroll processing support, we can handle setup, training, and ongoing assistance to keep your employees paid correctly and remain compliant with all tax and legal requirements.

These services can be adjusted to match your unique needs and easily added to your overall plan.

For our Controller plan, your financial statements will be finalized by the 20th of the month after the month being reconciled. For instance, if we’re reconciling January’s accounts, you can expect your statements by February 20th.

With our CFO plan, your financial statements will be finished sooner—by the 15th of the month following the reconciled month. Using the same example, your January statements would be ready by February 15th.

Keep in mind, timely statement delivery depends on factors like cooperation from property management or other external parties. We rely on receiving necessary documentation by the 10th of each month to ensure we can complete and deliver your financial reports promptly. Delays in obtaining these documents may push back your financial statement timeline.

We offer more than standard bookkeeping. Our team supplies structure, insights, and smoother tax preparation processes. When you bring us on board, you’re not just hiring bookkeepers—you’re getting a holistic financial solution designed around your needs.

Beyond accurate financial statements, we compile detailed reports that provide a transparent view of your company’s performance, covering aspects like KPI monitoring, cash flow analyses, profit and loss by property, and balance sheets.

When you opt for a premium firm like Raises.com Accounting, you gain top-tier professionals, a committed group of experts, and the comfort of knowing your finances are managed with exceptional precision and care.

It’s never too early to contemplate outsourcing this area of your operation. In our experience, property owners often consider outsourcing around the point of having three or four properties, as using spreadsheets becomes overly cumbersome and inefficient by that stage.

For other real estate ventures, the timeline may vary, but if you aim to scale quickly, it’s usually wise to get your finances in order from the start so you can focus on business growth and leave the accounting to the pros.

While this might sound self-serving, it’s common for successful entrepreneurs to hire bookkeepers and assistants as one of their first additions to the team.

For those engaging us for monthly Full-Cycle services, we will typically step in for your existing bookkeeper or accountant. However, if you prefer maintaining an in-house bookkeeper or accountant, we can also assist with Accounting System Implementation and Advisory services.

A large number of outsourced bookkeeping firms serve a wide range of businesses and frequently lack specialized expertise in real estate.

At Raises.com Accounting, all of our clients are real estate investors or operators, allowing us to hone real estate-specific expertise that delivers tailored solutions most providers cannot.

In addition, our real estate focus not only lets us help you handle specialized real estate bookkeeping and accounting but also offers unique financial and operational insights specific to your industry.

In many situations, yes, we can.

Generally, yes.

Some clients simply ask us to set up their accounting system, then take over monthly accounting themselves but keep our Accounting Advisors on hand if any questions arise.

Others prefer that we handle both system setup and monthly accounting, freeing them from dealing with day-to-day accounting tasks or supervising an internal bookkeeper or accountant.

Some already have the system and in-house staff in place but need targeted assistance from real estate accounting specialists.

Whatever your needs, we’re here to help.

Our monthly bookkeeping is structured to be largely hands-off for you.

Typically, we’ll connect with you once per month for transaction context that can’t be categorized without your input. Over time, we learn from these inquiries to further minimize any effort required on your part.

In many cases, clients delegate these inquiries to an assistant, office manager, or similar staff, reducing their own involvement further.

Of course, you can always reach our Accounting Advisors via email or request a phone/Zoom meeting whenever needed.

• Setup: The primary goal here is to establish a fully operational accounting system suited to your specific business.
• Short-Term Rental Bookkeeping: Currently provided for STR-only portfolios, perfect for those seeking dependable and timely bookkeeping.
• Controller: Ideal for clients looking for straightforward financial reporting and supervision with streamlined delivery.
• CFO: A flexible option offering deeper insights into your accounting details.

Fees depend on your business’s scale and how long you’ve been operating without a structured accounting system.

Typical ranges include:

Accounting System Implementation begins at $1,500 for newer investors or owners just getting started and can climb to $10,000 or more for businesses or portfolios requiring significant catch-up work.

Monthly Full-Cycle Services start at $1,500/month, varying with the size of your portfolio or operation.

Presently, we use QuickBooks Online (QBO) in the systems we build or manage for clients. QBO offers all necessary capabilities for real estate accounting and is our platform of choice.

Yes, QuickBooks Online (QBO) is our current preferred software.

At this time, no, we don’t. QuickBooks Online (QBO) meets all the requirements for real estate accounting and remains our go-to software. While this might change down the road, we currently have no plans to offer Xero support.

• Buildium
• Appfolio
• Yardi

Absolutely. We can help you analyze your financials to better comprehend how your portfolio or business is doing, enabling you to make more effective decisions. Feel free to ask us about financial dashboards.

Yes, we can guide you through your financial statements so you can better gauge your company’s performance and make informed decisions. Again, ask us about financial dashboards.

Yes, our payroll services are delivered through QuickBooks Online (QBO) and Gusto.

Yes, we can handle your 1099 filing requirements.

Absolutely. We provide tax preparation services for all types of real estate investors and businesses. Click here to learn more.

Certainly. We provide tax planning and advisory for various real estate investors and enterprises. Click here to learn more.

Simply head over to our “Become a Client” webpage. If you fit the profile of clients we typically work with, fill out the form and share as many details about your tax and financial circumstances as possible.

Generally, an initial consultation is a meeting with potential clients to learn about their situation, discover if we can help, and see if working together makes sense for both parties.

A Kick-Off Call, on the other hand, occurs after we’ve decided to move forward together and have a signed agreement. It’s where we set expectations, gather any additional documents needed, and officially launch our working relationship.