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How Are Rental Income and Expenses Tracked and Reported?

North Carolina’s trust account laws are among the strictest in the country, so our processes are built to ensure full compliance and transparency.

Audience: rental property owners who want a clear understanding of how MoveZen tracks, records, and reports all financial activity associated with their rental property, including rent payments, expenses, fees, and trust accounting.

MoveZen uses a combination of strict trust accounting procedures, professional software, and detailed reporting to ensure every dollar is accurately tracked and documented.

Here’s how your rental income and expenses are tracked, recorded, and reported.

FAQs ❓

How do I know rent was received?
It immediately posts to the tenant ledger and appears in your upcoming monthly statement.

Where can I see expenses and vendor invoices?
In your monthly statements and within your Owner Portal.

Are trust accounts audited?
Yes both internally each month and by the NC Real Estate Commission.

Do I receive documentation for all repairs?
Yes invoices are attached to your statement whenever they’re provided by vendors.

How Rental Income Is Tracked ✔️

1. Tenant Pays Rent

Rent can be paid online or through approved payment methods.

Payments are:

  • Timestamped

  • Recorded on the tenant ledger

  • Verified when funds clear the bank

  • Posted to the trust account

2. MoveZen Verifies Funds

To comply with trust accounting laws, rent must:

✔ Fully clear the bank
✔ Be reconciled
✔ Match tenant ledger entries

Before it can be disbursed or included in statements.

3. Income Appears in Your Monthly Statement

Your Owner Statement will show:

  • Rent collected

  • Date received

  • Any late fees

  • Any partial payments

  • Any outstanding tenant balance

You can also view real-time ledger updates in your Owner Portal.

How Expenses Are Tracked ✔️

Expenses include:

  • Maintenance and repair invoices

  • Utility charges (if owner-paid)

  • Management fees

  • Leasing fees

  • HOA or special charges (in select cases)

Each expense is:

✔ Recorded on the property ledger

✔ Categorized (repairs, capital, fees, etc.)

✔ Attached with invoices when available

✔ Matched to trust account withdrawals

Expenses only occur when:

  • Funds are available, or

  • The owner provides a contribution

Deficit spending is illegal under NC law, so expenses are tightly controlled.

How Trust Accounting Ensures Accuracy 🛡️

MoveZen follows NC’s strict trust account requirements, including:

✔ Monthly bank reconciliation

✔ Tenant ledger reconciliation

✔ Trust liability reconciliation

✔ Documentation for every transaction

✔ No negative balances EVER

Because of these safeguards, your financial reporting is both accurate and audit-ready.

How Reporting Works Each Month 📄

1. All income and expenses are entered and reconciled

This ensures statements reflect accurate, cleared funds.

2. Owner disbursements are prepared

Usually around the 10th of each month, depending on banking schedules.

3. Your monthly Owner Statement is generated

It includes:

  • Income

  • Expenses

  • Tenant charges

  • Management fees

  • Ledger summary

  • Year-to-date totals

4. You receive your statement and can review all transactions

Your portal stores statements permanently for reference.

Real-Time Tracking via the Owner Portal 🔐

Your Owner Portal allows you to see:

✔ Property balance

✔ Pending charges

✔ Tenant payment history

✔ Work orders

✔ Invoices (attached when available)

✔ Contribution requests

✔ Cash flow summaries

This gives owners visibility without needing to wait for monthly statements.

How Vendor Invoices Are Handled 🧾

When vendors complete repairs:

  1. Vendor uploads or emails invoice

  2. MoveZen reviews for accuracy

  3. Invoice is posted to your ledger

  4. Payment is issued once funds are available

  5. Invoice is attached to your upcoming statement

This ensures transparency for every expense.

Year-End Reporting & Tax Support 📊

MoveZen provides:

  • 1099-MISC forms

  • Year-end income summaries

  • Comprehensive expense reports

These documents simplify tax filing and are accepted by most accountants.

Year-end reports are typically issued by January 31st.

How Owners Can Use These Reports

✔ Track monthly profitability

✔ Identify large or recurring expenses

✔ Budget for future maintenance

✔ Monitor tenant payment behavior

✔ Prepare for tax season

✔ Validate rent increases at renewal

✔ Review long-term investment performance

Good reporting empowers better financial decisions.