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Sample Real Estate Agent's Chart of Accounts

Accounting Guidance for New Real Estate Agents

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As a real estate agent, you will find that you are an independent contractor and are responsible for maintaining your own books and records because your broker will not usually do that for you. Below you will find a sample chart of accounts for your profit and loss (or income) statement. The profit and loss accounts are summarized by revenues and expense types. This sample real estate agent chart of accounts is just and example of how you can set up your accounts to track your revenues and expenses for the year in whatever accounting software you are using. Ultimately, you will customize your own chart of accounts to suite your needs as a real estate agent.

Real Estate Agent - Chart of Accounts 

The first key to your chart of accounts is to separate your revenues from your expenses. You will also want to be sure to keep similarly related items within a grouping or numerical sequence. For example, you will notice that accounts 41000-41999 are all reserved for residential revenue sources. By grouping like accounts, it will make it easier to remember where to code certain items, and to do certain types of business analysis. 

Revenues

41000 – ​ 41999

Residential Revenue

41100

Sales Revenue – Residential

41200

Listing Revenue – Residential

41300

Leasing Revenue – Residential

41400

Property Management Revenue - Residential

42000 – 42999

Commercial Revenue

42100

Sales Revenue – Commercial

42200

Listing Revenue – Commercial

42300

Leasing Revenue – Commercial

42400

Property Management Revenue – Commercial

43000 – 43999

Other Real Estate Revenue

44000

Interest Revenue

45000

Other Revenue

 

Expense

Cost of Sales Expenses

51000-52999

Cost of Sales Expense

51100

Commissions Expense

51200

Royalty Expense

51300

Listing Cost of Sales Expense

51400

Buyer Cost of Sales Expense

51500

Other Commissions Expense

52000

Other Cost of Sales Expense

 

Salaries and Wages Expenses

61000 – 63999

Salaries and Wages Expense

61100

Salaries and Wages – Officers Expense

61200

Payroll Taxes – Officers Expense

61300

Insurance – Officers Expense

61400

Other Employee Benefits – Officers Expense

62100

Salaries and Wages – Management Expense

62200

Payroll Taxes – Management Expense

62300

Insurance – Management Expense

62400

Other Employee Benefits – Management Expense

63100

Salaries – Staff Expense

63200

Payroll Taxes – Staff Expense

63300

Insurance – Staff Expense

63400

Other Employee Benefits – Staff Expense

 

Advertising Expenses

64000 – 64999

Lead Generation Expense

64100

Advertising Expense

64200

Print and Direct Mail Expense

64300

Internet Lead Generation Expense

 

Occupancy Expenses

65000 - 65999

Occupancy Expense

65100

Rent/Desk Fees Expense

65200

Utilities Expense

65300

Repairs and Maintenance Expense

65400

Depreciation Expense

65500

Insurance Expense

65600

Other Occupancy Expenses

 

Communication and Technology Expense

66000 - 66999

Communication and Technology Expense

66100

Telephone Expense

66200

Internet Expense

66300

Website Expense

66400

Other Communications and Technology Expenses

 

Education and Dues Expenses

67000 – 67999

Education and Dues Expense

67100

Education and Training Expense

67200

Dues and Subscriptions

67300

Other Education and Dues Expense

 

Insurance Expenses

68000 – 68999

Insurance Expense

68100

Automobile Insurance

68200

Errors and Omissions Expense

68300

Property and Liability Insurance Expense

 

Professional Services Expenses

69000 – 69999

Professional Services Expenses

69100

Accounting and Tax Preparation Fees

69200

Legal Fees

69300

Other Professional Fees

 

Other Expenses

70000 – 79999

Other Expenses

71000

Meals and Entertainment Expense

72000

Travel Expense

73000

Lodging Expense

74000

Charitable Donations

75000

Other Expenses

 

As a Realtor or Real Estate Agent, you can use this chart of accounts as a template to help you set up a way to track the revenues and expenses of your real estate activities. This sample real estate agent chart of accounts is meant only as a guide; you should customize the accounts to better meet your needs. For example, you may have other expenses that are not listed here that you need or would like to track. 

 

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