RECO Inspection & Records Readiness
Trust-account bookkeeping, monthly reconciliation preparation, financial-record organization, and catch-up support for brokerages preparing for an inspection or financial filing.
Last updated: August 2026
Inspection readiness starts with the records your brokerage should already be maintaining.
Taxxel supports Ontario real estate brokerages with trust-account bookkeeping, reconciliation preparation, financial-record organization, and catch-up work when the accounting file is behind or incomplete.
Taxxel is not RECO, does not conduct RECO inspections, and does not certify regulatory compliance. Our role is bookkeeping and financial-record preparation support for the brokerage and its broker of record.
Trust account → reconciliation → trade record → supporting document → brokerage books.
Financial-record support for brokerages
The exact records depend on your brokerage activity and any RECO request. These are the areas where bookkeeping organization matters most.
Monthly trust reconciliations
Prepare the real estate trust account reconciliation, investigate differences, and maintain the working records used to support the monthly review.
Trust-money records
Organize deposits, withdrawals, authorization support, trust ledgers, bank statements, and records that explain how client money moved.
Trade and transaction records
Keep the financial and bookkeeping documents that connect trade activity, deposits, commission flows, and brokerage accounting records.
Annual financial filing readiness
Beginning October 1, 2026, Ontario brokerages are required to submit an annual financial filing to RECO. We can help organize the bookkeeping records that support the filing.
Two recurring financial controls deserve special attention
Monthly trust reconciliation review
RECO guidance states the broker of record must review, sign and date the monthly real estate trust account reconciliation within 30 days after month-end. The brokerage remains responsible even when a qualified professional prepares the reconciliation.
Annual financial filing begins in 2026
RECO says all Ontario brokerages will be required to submit an annual financial filing beginning October 1, 2026. This is separate from the brokerage’s continuing trust-account and inspection obligations.
Regulatory requirements can change. Brokerage leadership should confirm current requirements directly with RECO and applicable Ontario regulations.
From inspection notice to organized financial file
Assess
Review the inspection notice, records requested, trust-account status, and periods involved.
Organize
Gather bank statements, reconciliations, transaction records, ledgers, and supporting documents.
Reconcile
Bring the relevant books current and document outstanding reconciling items or missing support.
Prepare
Assemble a clear financial-record file for the brokerage and its broker of record to review.
Preparing for a RECO inspection or financial filing?
Tell us which records are current, which months still need reconciliation, and whether the brokerage has an inspection notice or upcoming filing requirement.
Connect inspection readiness to the brokerage records behind it
Inspection preparation is strongest when trust-account records, monthly reconciliations, operating books, and any catch-up work are organized as one continuous record trail.
Commission, corporate, operating, and brokerage bookkeeping support for agents, PRECs, and brokerages.
Review a practical checklist for brokerage trust and financial records.
Address delayed or incomplete records before an inspection or financial filing.
Maintain recurring reconciliations and supporting records after the immediate readiness work.
Work with Taxxel from your community
Taxxel supports businesses, professionals and individuals across Ontario. Most bookkeeping, tax and CRA records-support engagements can be coordinated securely without repeated office visits.
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