Build a rental schedule from agent statements

The client sends an annual agent statement and a folder of council and strata bills. Some of those bills have already been paid by the agent. Adding both sets of amounts is the easy way to overstate the rental loss.

Start with receipts and the agent's totals

For the 2025–26 income year, get the agent's annual statement, bank evidence for rent paid outside the agency, loan statements, depreciation or capital-works schedule, and invoices the owner paid directly. List rent when received; do not divide the final payment around 30 June because its tenancy period crosses year end.

Use the agent statement's own rent and expense totals. Match a forwarded rates bill to the statement before putting it in a separate paid-personally column. A bill already included in agent disbursements is evidence for that statement amount, not another expense. The statement covers the period the agent managed; do not apply a second letting-period fraction to its own figures.

Check the direct-paid side

Add only costs the owner paid on top of the agent statement. For a cost covering private or unavailable periods, document the period and the basis of any apportionment. Loan interest follows the use of the borrowed funds; the property offered as security does not establish that use. Borrowing expenses and capital works have their own schedules, so keep the source documents instead of dropping their full invoice amounts into other expenses.

Check the delivered schedule

Upload the sources to an individual Workpapers case. The 2025–26 workbook has a sheet per rental property and a summary feeding item 21. Compare its agent-statement and personally-paid columns with your source list. Open any disputed cell's document and resolve the review point before accepting the net figure.