Need help with bookkeeping too? Propra offers an Enterprise plan where our in-house bookkeeping team can manage your monthly accounting tasks, including reconciliations, payouts, financial statements, and GST remittances.

Reach out to Customer Success -> [email protected]

This guide explains how to complete accounting tasks in Propra. Propra Support can help you use the software, but Propra is not your accountant or bookkeeper. Always review your accounting processes, classifications, adjustments, and compliance requirements with your internal controller, bookkeeper, or accountant to ensure they are appropriate for your business and jurisdiction.

The task lists below are intended as general guidance only. Your business may require additional tasks, approvals, controls, or reporting based on your portfolio, ownership structure, province/state, tax setup, or internal procedures.

Use this section if you manage long-term residential rentals, single-family homes, or multifamily residential properties where rent is collected on behalf of owners and monthly owner payouts are processed.

Complete monthly owner payouts accurately and on time while ensuring trust accounting, payables, receivables, and reconciliations are correct.

Enter opening balances, accounts payable, accounts receivable, security deposits, and supporting journal entries for newly onboarded properties. Ensure properties have been added to recurring tasks and bank groups.

Have managers send bills and e-transfers emails to [email protected] as you get them to ensure everything is up to date. Alternatively, they can be uploaded from scans or from the manager app.
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Review and approve the pending bill and deposit scans. Confirm dates, properties, suppliers, bank accounts, payment details, GL accounts, and descriptions before approving.

Apply tenant credits and prepayments to outstanding invoices. Rent prepayments should only be applied to rent charges.

Verify security deposits were deposited into the correct security deposit bank account rather than the rent trust account.

Post interest earned on security deposit bank accounts using the Deposit Interest Adjustment task.

Complete reconciliations for rent trust accounts, security deposit accounts, and credit cards from the previous month. Review uncleared transactions, deposits in transit, and outstanding cheques.

Run the Deposits Balances Report and confirm balances match between trust liabilities, refundable deposits listed on leases and bank balances.

Check for negative balances, incorrect security deposit amounts, or operating overdrafts.

If using Autopay, those deposits will be automatically created but any tenants paying by cheque or other manual methods will need to be recorded manually. Always ensure your deposit bank and date matches your actual bank transactions.

Generate and post management fee payables based on collected revenue or configured fee structures.

Generate withholding tax payables for non-resident owners when required.

Confirm all outstanding invoices, bills and inter-company entries are accurate and balanced.

Post (to pay manually) or process (to pay via autopay) management fees and supplier bills.

Investigate significant payout changes month-over-month and identify the cause of variances. Ensure you select the appropriate dates: the day after the last payout period to the current payout date.

Create bundled owner statements and review reports before posting payouts. Use the same dates as the review step to ensure consistency.

Generate the owner payout batch for the payout period. Use the same dates as the review step to ensure consistency.

Process owner payments through Autopay or export CPA files for bank upload.

Share the reports with your owner's from the Bundled Reports page. A copy of the pdf is also save under's that owner's document tab to maintain an exact record of what was shared.

Use this section for commercial properties where GST/HST is tracked separately and remitted monthly. Most of the same tasks follow residential workflow. Below are the extra steps for Commercial properties.

Manage commercial accounting workflows with proper GST/HST handling and owner remittance reporting.

Commercial accounting follows the same overall process as residential accounting, including:

Review and approve the pending bill and deposit scans. Confirm dates, properties, suppliers, bank accounts, payment details, GL accounts, and descriptions before approving. When approving bills GST/HST must always be split into separate tax line items.

Generate GST remittance payables for owners who self-file GST/HST

Ensure GST/HST payable balances are reflected correctly on reports and owner statements.

Use this section for condominium corporations or strata properties where monthly financial statement packages are delivered to boards or treasurers instead of owner payouts.

Produce accurate monthly financial reporting packages and maintain reserve fund accounting.

Enter opening balances, accounts payable, accounts receivable, security deposits, and supporting journal entries for newly onboarded properties. Ensure properties have been added to recurring tasks and bank groups.

Have managers send bills and e-transfers emails to [email protected] as you get them to ensure everything is up to date. Alternatively, they can be uploaded from scans or from the manager app.
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Review and approve the pending bill and deposit scans. Confirm dates, properties, suppliers, bank accounts, payment details, GL accounts, and descriptions before approving.

Apply owner prepayments and credits to condo fee invoices only.

Reconcile operating accounts, reserve accounts, investment accounts and credit cards from the prior month.

Review outstanding balances and inter-company transactions.

Ensure reserve assets and liabilities match. Investigate reserve expenses posted to the wrong bank accounts.

If using Autopay, those deposits will be automatically created but any owners paying by cheque or other manual methods will need to be recorded manually. Always ensure your deposit bank and date matches your actual bank transactions.

Generate and post management fee payables based on revenue charged

Post (to pay manually) or process (to pay via autopay) management fees and supplier bills.

Review the balance sheet, income statement, statement of account, and reserve ledger for abnormal balances or discrepancies.

Prepare board packages and treasurer reports, including budget comparisons when applicable.

Share finalized financial packages with boards and stakeholders.

Post auditor adjustment journal entries and reversing entries when required.

Use this section if your management company tracks its own administrative or corporate accounting directly inside Propra. Administrative accounting for a property management company is the reflection of the property's accounting and so they use opposing accounts for all entries.

Maintain proper financial reporting for your management company alongside your property portfolios.

Approve admin bills and deposits with GST/HST split out appropriately.

Apply only admin-related credits and prepayments to corresponding invoices.

Reconcile operating accounts and credit cards for the management company.

Generate GST remittance payable for the filing frequency of your company.

Confirm all management company receivables and payables are balanced correctly

Post (to pay manually) or process (to pay via autopay) supplier bills.

Review admin balance sheets, income statements, and statements of account.

Prepare monthly financial reporting packages.

Share finalized reports internally or with ownership.

Set filing frequency and Receiver General configuration correctly.

Ensure GST is properly split on bills, invoices, ITCs and manual journal entries. Review any transactions that doesn't have a GST/HST line and edit if required.

Review GST reports, confirm balances, generate remittance entries, and file with CRA.

Track management fee revenue automatically by generating both:

Automatically generate receivables for placement fees tied to leases.

Automatically charge NSF fees to tenants and generate admin receivables when payments are returned.

Use clearing accounts only temporarily when correcting bank transfer errors. These accounts should return to zero each month.

The undeposited funds account is used only for Autopay processing while transactions clear the bank.

Create separate teams for rentals and condos to prevent incorrect batching and reporting.

Create separate admin properties for additional bank groups when needed for trust accounting, bank fees, or interest tracking.