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Xovion Books

Free · Xovion Books

The worksheet kit. Print it, fill it in.

The playbook’s checks as sheets your team can work by hand, one per page. Print the whole kit, or take the blank spreadsheet versions. No form, no catch.

Outstanding items log (CSV) Deposit proof, property by property (CSV) 1099 vendor checklist (CSV)

01 · Every account, every statement

Statement tie sheet

The difference must be zero. Never plug it. The bank check fills in the lists for you →

AccountStatement datePrepared by / dateReviewed by / date
Statement ending balance
+ Deposits in transit (in the books, not at the bank yet; list below)
− Outstanding checks and payments (list below)
= Adjusted bank balance
Book balance on the statement date
Difference (adjusted bank − books)
Explained by items at the bank not yet recorded (fees, interest, returned payments, autopays; list below)
Unexplained. Must be 0.00

Items in transit, outstanding and unrecorded

DateIn transit / outstanding / to recordReferenceDescriptionAmount

Off and can’t see why? Divisible by 9 often means two digits swapped. Twice an item’s amount means it went in with the wrong sign. Equal to one item means it’s missing or in twice. If last month didn’t tie, tie it first.

02 · Carried month to month

Outstanding items log

Everything in the books that hasn’t reached the bank. Chase anything over 30 days: call the payee, then void and reissue, or find the deposit.

DateTypeRefPayee / payerAmountDays outAction takenCleared

03 · Monthly, for the deposit account

Deposit account proof

Owed to tenants = deposit liability in the books = deposit bank balance, on the same date. A matching total isn’t proof on its own: check property by property.

Deposit accountAs ofPrepared by / dateReviewed by / date
1. Owed to tenants (total of every tenant’s deposit held)
2. Deposit liability in the books
3. Deposit bank statement balance
   + deposits in transit   − refunds not yet cleared
= Adjusted deposit bank balance
1 − 2, and 2 − adjusted bank. Both must be 0.00

Property by property

PropertyOwed to tenantsBooks liabilityDifferenceTenant / transaction causing it

Usual causes: a refund or deduction posted on one side only, a deposit received into operating, interest never moved or recorded, a transfer between properties on one side only. Quick deposit check →

04 · Every month

Month-end close checklist

A month is closed only when every account tied, nothing has changed since, and every line is done. No forced close.

CompanyMonthClosed by / dateReviewed by / date
  1. Every bank account is reconciled for the month, and the Bank Reconciliation report shows zero difference.Initials
  2. No unexplained items are left through month-end. Review uncleared deposits and payments, and chase anything older than 30 days.Initials
  3. The deposit account proves out on the 3-Way Reconciliation report, and Diagnostics is clear.Initials
  4. Every bill for the month is in. Check Unpaid Bills and anything you bill back to owners (work orders and recurring charges).Initials
  5. Post management fees, then run Owner Statements. Fees first, statements after.Initials
  6. Review the Income Statement and General Ledger for anything coded to the wrong property or account, then send statements.Initials

Accounts reconciled this month

AccountStatement dateDifferenceOutstanding over 30 daysDone

05 · January, one folder per company

Year-end folder

One package per company, never a mix. Every balance sheet bank number should match a reconciled December statement.

CompanyYearSent to accountant onBy

Before you build it

  1. Confirm all twelve months are closed and tied.Initials
  2. For each company, export the Balance Sheet, Income Statement and General Ledger for the year.Initials
  3. Run the 1099 Report and check every vendor you’ll file for has a W-9 on file. Ask for missing W-9s through the year, not in January.Initials
  4. Prove the deposit account one last time as of December 31.Initials
  5. Put it together for your accountant, one folder per company, with each year-end bank statement next to its reconciliation.Initials

What goes in the folder

  1. Balance Sheet as of December 31Initials
  2. Income Statement for the yearInitials
  3. General Ledger for the yearInitials
  4. December bank statement for every account, each next to its reconciliationInitials
  5. Deposit account proof as of December 31 (3-Way Reconciliation)Initials
  6. 1099 Report, with the vendor checklistInitials
  7. Loan statements showing the year-end balance and interest paidInitials
  8. A note of anything still open or unusualInitials

06 · Through the year, not in January

1099 checklist and W-9 request

Ask for a W-9 when you set up a vendor, before the first payment. Which vendors get a 1099, and the reporting threshold for the year, are your accountant’s call.

VendorPaid this yearW-9 on fileReceivedName matchesFiles 1099Requested

W-9 request letter

Subject: W-9 request from [Company]

Hello [Vendor contact],

We’re updating our vendor records and need a current IRS Form W-9 for [Vendor legal name]. The blank form is at irs.gov/w9.

Please complete and sign it and send it back by [date]. A reply to this email with the form attached is fine.

We use it only for tax reporting. If your bank or payment details have also changed, please call us at the number we have on file; we don’t change payment details from email.

Thank you,

[Name]

[Company] · [Phone]

Rather not do it by hand?

Xovion Books fills these in every night.

It ties every account, keeps the outstanding list, proves the deposit account and holds the close until it’s proven.

See Xovion Books in action The playbook behind these sheets

General practice, not accounting, tax or legal advice. Deposit and 1099 rules vary by state and year, so confirm with your accountant. Xovion Books is not affiliated with AppFolio.