Real estate owners and partnerships
Typical situations
- K-1 deadlines are approaching and the books are not ready
- A lender or buyer requires reliable financial statements
- Partners disagree on capital contributions
Clients
Lastro serves three types of clients. Each profile lists the services most relevant to it.
Business owners and founders
Typical situations
- The books are a year or more behind
- A financing or capital raise is under way
- A new company requires a sound accounting foundation
CPA firms
Typical situations
- A client has arrived with no accounting records
- The books do not agree with the prior-year return
- Workpapers must be supported by source documents
Lastro does not prepare or sign tax returns. The client relationship remains with your firm.
Lastro also serves owners based outside Florida and outside the United States.
Services
Select a service to view its scope and deliverables.
Full reconstruction
For entities with no accounting records, or records that cannot be relied upon.
Full reconstruction
For entities with no accounting records, or records that cannot be relied upon.
Scope
- Establish opening balances from the closing statement or formation documents
- Record every receipt and disbursement from bank, card and escrow statements
- Prepare a trial balance for each year
Deliverables
- Annual trial balances in Excel
- A document index tracing each balance to its source
- An open items schedule with assigned responsibility
- A summary memorandum for the CPA of record
Typical timeline is one to three weeks per entity once all records are received.
Reconciliation and correction
For existing books that do not agree with bank, lender or prior-year tax records.
Reconciliation and correction
For existing books that do not agree with bank, lender or prior-year tax records.
Scope
- Reconcile cash, debt, credit cards and escrow to third-party statements
- Compare the books to the prior-year tax return
- Identify and correct misstatements
Deliverables
- Account-level reconciliations
- Adjusting journal entries, each with support
- A revised trial balance
Capital accounts and ownership records
For partnerships and LLCs that must establish each owner's contributions and distributions.
Capital accounts and ownership records
For partnerships and LLCs that must establish each owner's contributions and distributions.
Scope
- Trace each contribution and distribution to the wire and the operating agreement
- Distinguish member loans from capital contributions
- Prepare the ownership schedule as of any date
Deliverables
- A capitalization table
- A capital account rollforward for each owner
- Support for the preparation of Schedules K-1
Entity setup
For new entities that require sound accounting from inception.
Entity setup
For new entities that require sound accounting from inception.
Scope
- Form the LLC and obtain the EIN
- Configure the accounting system, chart of accounts and bank feeds
- Establish each owner's capital account
Deliverables
- A configured accounting file
- A monthly close checklist
- A handover meeting with management or the bookkeeper
Interactive dashboard Optional add-on
For owners who prefer to review financial results visually rather than in spreadsheets.
Interactive dashboard Optional add-on
For owners who prefer to review financial results visually rather than in spreadsheets.
Scope
- Build a dashboard from the completed books covering cash, balances, ownership and trends
- Tie every figure to the underlying books
- Refresh monthly, if engaged
Deliverables
- A private, interactive dashboard accessible on any device
- A guided walkthrough
- Monthly updates, if engaged
Available with any engagement above.
Approach
A single entity is typically completed in one to three weeks once source documents are received.
Initial review
Available records are reviewed at no cost. Scope and a fixed fee are confirmed within two business days.
Reconstruction
Each transaction is matched to a source document and balances are rebuilt month by month.
Verification
Results are agreed to bank, lender and escrow balances, and any difference is explained.
Delivery
The client and the CPA of record receive the complete file and a walkthrough meeting.
Fees
Indicative starting fees are shown below. Following the initial review, a fixed fee is agreed in writing and changes only if the scope changes.
Entity setup
LLC formation, EIN, accounting system and bank feeds. The $125 Florida filing fee is billed at cost.
from$750
Reconciliation and correction
Per entity. Based on the number of accounts and the extent of the differences.
from$1,500
Full reconstruction, operating company
Per year of records. Based on transaction volume and available records.
from$2,500
Full reconstruction, real estate partnership
Per entity, per year. Additional investors, 1031 exchanges or missing records increase the fee.
from$4,000
Capital accounts and ownership records
Based on the number of owners and years. Reduced when combined with a reconstruction.
from$2,500
Interactive dashboard, add-on
Built from the completed books. Optional monthly refresh from $250 per month.
from$1,000
Payment terms
50% upon engagement, with the balance due on delivery.
Expedited engagements
Engagements due in under two weeks carry a 25% expedite fee.
Efficiency
Technology performs the repetitive matching, so fees reflect review and professional judgment.
Founder
Daniela Pierre-Toussaint began her career in 2016 at Ernst & Young, in the wealth and asset management practice. She has since led accounting and finance for real estate portfolios and investment managers, including building a finance function from inception.
Her work centers on complex reconstructions through a forensic lens, tracing closings, 1031 exchanges, capital contributions and distributions to source documents until every balance is supported. She founded Lastro to bring that discipline to partnerships, sponsors and the CPAs who serve them.
She graduated cum laude from Babson College in 2015 with a B.S. in Business Administration, concentrating in accounting and economics, and is a licensed CPA in Massachusetts. She is based in Miami and serves clients in English and Portuguese.
Since 2016in accounting and finance, beginning at EY
$2Basset manager, Finance Director
15,000apartment units across her career
2languages, English and Portuguese
Why "Lastro"In Portuguese, lastro is what backs a value, as gold backs a currency. Every balance Lastro delivers is backed by a document.
Frequently asked questions
Does Lastro prepare tax returns?
No. Lastro prepares the books and supporting schedules, and the CPA of record prepares and files the return. Referrals to CPA firms are available on request.
What if records are missing?
This is common. Work begins with the records available and, with the client's authorization, the remainder is requested from banks, lenders and escrow agents. Any balance that cannot be supported is listed as an open item rather than estimated.
How are fees determined?
Indicative fees are listed under Fees. A fixed fee is agreed in writing after the initial review and before any work begins.
Does Lastro serve clients outside Florida?
Yes. Engagements are performed remotely for clients across the United States and abroad.
Are services available in Portuguese?
Yes. All services are available in English and Portuguese.
Does Lastro perform audits?
No. Lastro does not perform audits, reviews or other attest engagements. Reconstructed books do, however, give an audit firm a reliable starting point.