McKee Commercial | The Herbert Group provides commercial property Accounts Payable and Year End Accounting services for property owners throughout California.

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Our accounting team manages vendor invoices, expense coding, payment processing, bank reconciliations, general ledger review, year end financial reporting, and coordination with ownership tax professionals.

 

The objective is to maintain accurate property records throughout the year so ownership has reliable financial information, organized documentation, and an efficient year end accounting process.

 

Commercial Property Accounts Payable Services

 

Accounts Payable is a critical component of commercial property accounting. Every invoice, utility bill, vendor payment, property tax payment, insurance premium, and operating expense needs to be accurately recorded, classified, and tracked.

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Our Accounts Payable services include:

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• Vendor invoice processing

• Invoice review

• Expense coding

• Vendor payment processing

• Utility payments

• Property tax payments

• Property insurance payments

• Landscaping invoices

• Janitorial invoices

• Repair and maintenance invoices

• HVAC service invoices

• Security expenses

• Trash and recycling expenses

• Professional service invoices

• Property management expenses

• Property accounting expenses

• Administrative expenses

• Capital expenditure tracking

• Payment documentation

• General ledger posting

• Bank reconciliation support

• Owner reporting

 

This provides property ownership with an organized and consistent process for managing property expenses and maintaining accurate financial records.

 

Vendor Invoice Processing and Expense Coding

 

Accurate financial reporting begins with accurate expense classification.

 

Our accounting team reviews property invoices and assigns expenses to the appropriate accounting categories so ownership receives consistent and reliable financial reporting.

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Proper expense coding supports:

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• Accurate Income Statements

• Operating expense reporting

• Annual property budgeting

• Budget versus actual reporting

• CAM and OPEX Reconciliations

• Capital expenditure tracking

• Year end financial reporting

• Historical property analysis

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Consistent expense classification also provides ownership with a clearer understanding of where property funds are being spent.

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Property Expense Payment Management

Commercial properties generate both recurring and nonrecurring expenses throughout the year.

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Our accounting team maintains an organized process for recording and managing property expenses, including:

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• Property taxes

• Property insurance

• Utilities

• Landscaping

• Janitorial services

• HVAC maintenance

• Plumbing services

• Electrical services

• Security services

• Waste removal

• Parking lot maintenance

• Elevator service

• Fire protection services

• Pest control

• Repairs and maintenance

• Professional services

• Property management expenses

• Property accounting expenses

• Administrative expenses

 

Payments are recorded within the property accounting system so ownership receives consistent expense reporting and a complete accounting history.

 

Accounts Payable and CAM and OPEX Reconciliation

 

Accounts Payable is directly connected to annual CAM and OPEX Reconciliation.

 

Many commercial property operating expenses are recoverable from tenants according to their lease provisions. Accurate invoice processing and expense classification throughout the year establish the accounting foundation for calculating those recoveries.

 

Typical operating expenses tracked include:

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• Common Area Maintenance

• Property taxes

• Property insurance

• Utilities

• Landscaping

• Janitorial services

• Repairs and maintenance

• HVAC expenses

• Property management expenses

• Property accounting expenses

• Administrative expenses

• Security services

• Trash and recycling

• Other recoverable operating expenses

 

Proper accounting throughout the year creates a more accurate and organized annual CAM and OPEX Reconciliation process.

 

Bank Reconciliations and Financial Controls

Commercial property bank accounts require regular reconciliation to maintain accurate financial records.

 

Our accounting process includes:

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• Comparing accounting records with bank activity

• Reviewing deposits

• Reviewing cleared payments

• Identifying outstanding transactions

• Reviewing unapplied activity

• Maintaining accurate cash balances

• Supporting monthly financial reporting

• Maintaining organized supporting records

 

Consistent bank reconciliation helps ensure property financial statements accurately reflect actual cash activity.

 

Year End Commercial Property Accounting

Year end accounting brings together the financial activity recorded throughout the year.

 

Our team reviews property accounting records and prepares organized financial information for ownership and their tax professionals.

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Year end accounting services include:

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• General ledger review

• Bank reconciliation review

• Accounts Receivable review

• Accounts Payable review

• Tenant ledger review

• Income and expense review

• Balance Sheet review

• Cash account review

• Year end financial statements

• Supporting accounting schedules

• CAM and OPEX accounting coordination

• 1099 preparation support

• Vendor reporting

• Property accounting record organization

• Coordination with ownership CPAs and tax professionals

 

Maintaining accurate accounting records throughout the year creates a more organized and efficient year end accounting process.

 

Year End Financial Reporting

Property owners receive organized year end records showing the financial activity and financial position of the property.

 

Year end reporting includes:

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• Income Statements

• Balance Sheets

• Cash Flow Statements

• General Ledger Reports

• Rent Rolls

• Accounts Receivable Reports

• Accounts Payable Reports

• Tenant Ledger Information

• Bank Reconciliation Records

• Operating Expense Reports

• Supporting Accounting Schedules

 

These reports also provide important financial information for ownership tax professionals, lenders, investors, and other financial advisors.

 

1099 Reporting Support

Commercial property owners frequently make payments to vendors and service providers that require year end reporting.

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Our accounting team maintains vendor payment records throughout the year and supports the annual 1099 reporting process.

 

This includes:

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• Vendor information tracking

• Payment history review

• Vendor reporting

• Year end payment summaries

• 1099 preparation support

• Accounting record organization

 

Maintaining organized vendor information throughout the year creates a more efficient year end reporting process.

 

Coordination With Ownership Tax Professionals

Our focus is commercial property accounting.

 

McKee Commercial | The Herbert Group maintains organized financial records and provides accounting information to ownership CPAs and tax professionals.

 

Information provided includes:

 

• Year end financial statements

• General ledger reports

• Income and expense detail

• Balance Sheet information

• Accounts Receivable information

• Accounts Payable information

• Bank reconciliation records

• Vendor payment information

• Supporting schedules

• Additional accounting documentation requested by ownership

 

This provides ownership and their tax professionals with organized property accounting information for the year end tax preparation process.

 

Professional Commercial Property Accounting Staff

Commercial property accounting requires consistency, accuracy, and professional financial oversight.

 

McKee Commercial | The Herbert Group is supported by an experienced commercial property accounting team with CPA oversight.

 

Our accounting services include:

 

• Accounts Payable

• Accounts Receivable

• Rent Collection

• General Ledger Accounting

• Bank Reconciliations

• Monthly Financial Reporting

• Annual Budgeting

• CAM and OPEX Accounting

• Year End Accounting Support

• Coordination with ownership tax professionals

 

Property owners receive comprehensive commercial real estate accounting support without the need to establish and manage an internal property accounting department.

 

Accounts Payable for Self Managed Commercial Properties

Property owners do not need full Commercial Property Management services to utilize our accounting services.

 

Our Accounts Payable and Year End Accounting services are available to:

 

• Self managed commercial property owners

• Family ownership groups

• Partnerships

• LLCs

• Trusts

• Private real estate investors

• Owners with internal property staff

• Owners of multiple commercial properties

• Commercial real estate portfolios

 

Ownership maintains responsibility for property operations while our accounting team manages the financial accounting functions.

 

Integration With Financial Reporting and Budgeting

Accounts Payable directly affects monthly property financial reporting and annual budgeting.

 

Every property expense recorded throughout the year flows into the property's financial statements and budget analysis.

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Our integrated accounting process connects:

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• Vendor invoices

• Expense coding

• Accounts Payable

• General Ledger Accounting

• Monthly Financial Reporting

• Budget Versus Actual Reporting

• Operating Expense Forecasting

• Annual Property Budgeting

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This provides ownership with a consistent financial picture throughout the year.

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Integration With Rent Collection and Accounts Receivable

Commercial property accounting requires accurate management of both incoming and outgoing funds.

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Rent Collection and Accounts Receivable track property income while Accounts Payable tracks property expenses.

 

Together, these functions provide ownership with a more complete understanding of property cash flow.

 

Our accounting system connects:

 

• Tenant billing

• Rent collection

• Accounts Receivable

• Vendor invoices

• Accounts Payable

• Operating expenses

• Cash flow

• Monthly financial reporting

• Owner distributions

 

This integrated approach provides greater visibility into overall property financial performance.

 

Why Property Owners Outsource Accounts Payable and Year End Accounting

Outsourcing commercial property accounting provides ownership with professional financial administration and consistent accounting procedures.

 

Benefits include:

 

• Organized vendor invoice processing

• Accurate expense classification

• Consistent payment records

• Professional accounting oversight

• Accurate general ledger records

• Reliable bank reconciliations

• Better monthly financial reporting

• Improved operating expense tracking

• Better preparation for CAM and OPEX Reconciliations

• Organized year end financial records

• Improved coordination with tax professionals

• Reduced internal accounting administration

• Consistent accounting across multiple properties

 

The result is a more organized commercial property accounting process and better financial visibility for ownership.

 

Commercial Properties We Serve

 

Our Accounts Payable and Year End Accounting Services support owners of:

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• Office Buildings

• Retail Centers

• Shopping Centers

• Medical Office Buildings

• Industrial Properties

• Flex Properties

• Mixed Use Properties

• Professional Office Parks

• Multi Tenant Commercial Properties

• Commercial Real Estate Portfolios

 

Commercial Property Accounting Services Throughout California

 

McKee Commercial | The Herbert Group provides Commercial Property Accounting, Accounts Payable, Year End Accounting, Rent Collection, Accounts Receivable, Financial Reporting, Budgeting, and CAM and OPEX Reconciliation services for commercial property owners throughout California.

 

Our accounting platform provides consistent commercial real estate accounting, organized reporting, professional financial oversight, and online access to property financial information.

 

Frequently Asked Questions About Commercial Property Accounts Payable

 

What is commercial property Accounts Payable?

 

Commercial property Accounts Payable is the process of reviewing, recording, classifying, and paying expenses associated with operating a commercial property.

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Typical expenses include utilities, property taxes, insurance, repairs, maintenance, landscaping, janitorial services, vendor invoices, management expenses, and other operating costs.

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What does an Accounts Payable service include?

 

Accounts Payable services include vendor invoice processing, expense coding, payment processing, general ledger posting, payment record maintenance, bank reconciliation support, and financial reporting.

 

Why is expense coding important in commercial real estate accounting?

 

Expense coding determines how property costs appear within financial statements and operating expense reports.

 

Accurate coding supports financial reporting, annual budgeting, CAM and OPEX Reconciliations, year end accounting, and historical property analysis.

 

How does Accounts Payable relate to CAM and OPEX Reconciliation?

 

Recoverable property expenses originate within the Accounts Payable process.

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Accurate expense classification throughout the year provides the financial records required to calculate tenant operating expense recoveries during the annual CAM and OPEX Reconciliation.

 

What is included in year end commercial property accounting?

 

Year end accounting includes general ledger review, account reconciliations, financial statement preparation, Accounts Receivable review, Accounts Payable review, vendor reporting, 1099 support, and coordination with ownership tax professionals.

 

Does McKee Commercial prepare property tax returns?

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McKee Commercial | The Herbert Group provides commercial property accounting records and year end financial information for ownership tax professionals who prepare applicable tax returns and provide tax advice.

 

Does McKee Commercial provide Accounts Payable for self managed commercial properties?

 

Yes. McKee Commercial | The Herbert Group provides Accounts Payable and Year End Accounting services for self managed commercial properties as well as properties under our Commercial Property Management program.

 

Does McKee Commercial have professional accounting staff?

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Yes. McKee Commercial | The Herbert Group has an experienced commercial property accounting team with CPA oversight providing Accounts Payable, Accounts Receivable, financial reporting, budgeting, reconciliations, and year end accounting support.

 

Professional Accounts Payable and Year End Accounting

Accurate expense management is an essential component of commercial property financial performance.

 

McKee Commercial | The Herbert Group provides the accounting staff, systems, financial controls, and reporting required to manage property expenses and maintain organized year end financial records.

 

Our team:​

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• Processes vendor invoices

• Codes property expenses

• Manages Accounts Payable

• Records property payments

• Maintains general ledger records

• Performs bank reconciliations

• Supports CAM and OPEX Reconciliations

• Prepares monthly financial reporting

• Organizes year end accounting records

• Coordinates with ownership tax professionals

• Provides professional accounting oversight

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Contact McKee Commercial | The Herbert Group to discuss Accounts Payable and Year End Accounting Services for your California commercial real estate portfolio.