Trust Accounting for BC Property Managers Under BCFSA
The BC trust account rules for rental property managers: deposits in, fees out, interest, negative balances, monthly reconciliations and the annual accountant's report.
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The BC trust account rules for rental property managers: deposits in, fees out, interest, negative balances, monthly reconciliations and the annual accountant's report.
Real estate is the CRA's single biggest audit focus, and rental returns get looked at more than most. The good news: rental audits are predictable. They start from a short list of red flags — under-reported income, repeated losses, outsized repairs, mis-split mortgage interest, and over-claimed personal use — and almos