LaPorte’s outsourced accounting services may be just the thing your business needs to thrive.
The real estate industry is complex for a handful of reasons:
• It’s heavily regulated at the federal, state, and local levels.
• It requires long-term investment, which means financial stakes are high.
• The tax and accounting requirements are complex.
Fortunately, outsourced accounting professionals can help ease some of that burden.
What is outsourced accounting for real estate?
When you outsource accounting services, you can delegate various financial, accounting, and strategic tasks to a team of professionals. This arrangement allows you to focus on your core operations, like property acquisitions, management, and development, while your financial records and processes are maintained by professionals with experience in accounting practices.
What outsourced accounting services does LaPorte offer to the real estate sector?
Our Client Accounting Services Group is a well-rounded team with decades of experience. We take the knowledge that we’ve gained working with industry leaders to help you streamline operations, reduce costs, and perform adequate due diligence for your investment.
LaPorte can assist all types of real estate professionals — developers, owners, investors, management companies, title companies, etc. — through each phase of the real estate cycle. We provide the following services:
• Transaction advisory services
• Business valuation and net asset value analysis
• Attest and assurance services (audits, reviews, and compilations)
• Process reviews
• Workflow setup and management
• Outsourced operational accounting, including outsourced controller and CFO roles
• Forecasting and planning
• Software consultations and help with implementation
• Entity and transaction structuring
• Tax credit consultations and certifications
• Capital gain strategic planning
Why might outsourcing be the right move for your real estate business?
When you’re deciding whether to outsource work or perform tasks internally, there are a few things to think about. Outsourcing can help in some of the following ways.
Save time.
If you’re an active owner, property management can take up most of your energy, leaving little time for tax or accounting compliance, and even less time for strategic planning. Delegating your accounting to us can free you up to work on your business instead of in your business. We can help with:
• Bookkeeping and general ledger maintenance.
• Tenant and lease ledger maintenance.
• Preparing statements and processing payments from tenants.
• Accounts payable management.
• Preparing financial reports.
• Preparing analyses, budgets, and forecasts.
• Filing compliance documents like tax returns and legal forms.
• Monitoring cash.
Establish best practices.
With our extensive experience in the industry, we know what works and what doesn’t. We can offer suggestions for how to improve your current procedures and help make your existing processes more efficient.
Improve internal controls.
Our team can provide advice on how to strengthen internal controls so that your investment is better protected from both fraud and negligence.
Save money.
We are flexible on meeting clients’ pain points. We won’t spend time on areas that you don’t need help with. Plus, you won’t be paying benefits for us as you would an employee.
Flexibility.
Our solutions can be scaled up or down to meet your needs. If you need near full-time help with daily tasks, we can step in; if you want our support as you navigate a difficult purchase, we can step in; if you simply want to talk about your strategic goals, we can be that sounding board for you. Let us support you, whatever that looks like.
In the fast-paced world of real estate, having a reliable accounting partner can make all the difference in achieving your business goals. At LaPorte, we understand the unique challenges of the industry and are here to provide tailored solutions that save you time, improve your operations, and give you peace of mind. Whether you’re looking for day-to-day accounting support or strategic financial guidance, our team is ready to step in and help you succeed. Contact us today to learn how we can assist you in navigating the complexities of real estate accounting and take your business to the next level.