Real Estate Accounting Software for Property Managers and Developers

Property managers and developers, can find themselves doing the job of real estate agents so why not invest in software that can take on both of these roles. Real estate accounting software allows real estate agents, brokers, managers and investors who buy, sell or rent property keep track of their business finances. This article will looks at a broad range of options and will help find the best real estate accounting software solution for you.

Key Features of real estate accounting software

• Accounts: Various features are on offer in any software package. This includes an accounting module from Bookkeeping tools, accounts receivable and payable reports, reconciliation features and general financial reports.
• Contract Tools: Automatically generate and customise templates for invoices, bills, memos and contracts that you use to communicate with buyers, sellers, other agents, banks and more.
• Property Management: Keep an eye over all residential and commercial properties, new developments as well as renovation work with real estate project management software. This can easily display for you when projects will be finished and when leases are due to run out, helping you stay one step ahead and make the most of the important events coming up.
• Work Order scheduling: You can use the system to monitor the status of repairs and upgrades, track time and materials so that you can gauge costs and profits in each different job.

Benefits of using real estate management accounting software

Software systems offer better insight to where your money comes from and where it is going to. The transparency that software solutions provided in accounting packages around your costs and expenses leads you to make more informed financially responsible decisions.

Automatically generated reports that show the exact data that is required for meetings or end of month reporting, displayed in an easily understood format will cut down the time it takes to compile the information meaning you can work on other, more important jobs.

Many systems that have accounting packages offer sales dashboards or comprehensive reports that display everything from inventory to cash status all at your fingertips in seconds.

Scalability is another big benefit of using software to manage your real estate agency. Weather you start small or not, the intention is usually to grow. You will need a system that can streamline most of the essential day to day tasks which will free up extra time to spend with current or new home clients.