Real estate agent bookkeeping: commission deposits against what it costs to get them
An agent's income arrives in a few large title-company deposits; the costs are many small subscriptions and fees. The bank statement is where both sit, so the month's profit starts there.
Worked example: one August
The tool ships a synthetic statement for an agent (fixtures/realtor-checking.csv): two commission deposits and seven costs. Every line gets a suggested account with no rules taught.
| August 2026 | Amount |
|---|---|
| Commission deposits (two closings) | $10,115.00 |
| Sales | $10,115.00 |
| MLS access fee (taxes and licenses) | −$189.00 |
| Follow Up Boss (software) | −$69.00 |
| Zillow Premier Agent, Realtor.com leads (advertising) | −$570.00 |
| NAR dues (education and dues) | −$185.00 |
| Supra lockbox keys (office) | −$54.00 |
| E&O insurance (insurance) | −$96.00 |
| Profit | $8,952.00 |
Mileage to showings, the brokerage's desk fee and any commission split taken before the deposit are not on this statement. Add trips in the mileage log; the profit here is before them.
What the tool does for an agent
- Imports the bank CSV and suggests Sales for commission deposits.
- Files the recurring costs: MLS and association dues, lockbox keys, lead sources, CRM subscriptions and E&O insurance.
- Reports a P&L and a Schedule C worksheet, with a mileage log and quarterly estimated-tax dates in the tax calendar.
Rules are written from company names; no real agent's statement has been tried.
Questions
Are commission deposits all income I owe tax on?
The deposit is your share after the brokerage split and any transaction fee, so it is already net of the brokerage's cut. Book it as sales here. An agent paid as an independent contractor owes self-employment tax on the profit; the Schedule C worksheet in this tool shows the figure, and your accountant decides what applies to you.
Where do MLS, association dues and lockbox keys go?
The importer files MLS fees under taxes and licenses, NAR and board dues under education and dues, Supra lockbox keys under office, Zillow and Realtor.com leads under advertising, and E&O insurance under insurance. Move any line your accountant files differently.
Is it free?
Yes. It is open source (MIT), runs in your browser and nothing is uploaded.
Open AI Bookkeeper and import your bank statement.