When getting into property management, most of us turn to Excel spreadsheets to track our income and expenses, our property's financials and our overdue accounts. While that's fine for a couple of properties, it's not exactly a system that expands easily with your business. So now that you have a few (or a lot) of properties, you've found the need to expand to a more sophisticated accounting system that can handle multiple properties, multiple bank accounts, multiple currencies and can be accessed by multiple people...phew!
But if accounting isn't your niche, you may not understand the lingo, the reports and most importantly, you may be making mistakes that could cause problems for your business down the road. So what's the answer?
Why, @Assist of course! Introducing our newest feature: Property Management Accounting. And because it's included with our cloud-based system, you can access it from as many devices as you want from anywhere in the world.
You're able to:
- Reconcile bank accounts
- Add service request expenses
- Add debits (expenses) and credits (incomes)
- View resident statements
- Receive a full list of all residents with overdue accounts
- Add categories, bank accounts and starting balances
Plus, what would an anti-accounting accounting system be without reports! With @Assist, you can create reports by category, by bank account, for just incoming transactions or just outgoing transactions! Additionally, get a list of overdue accounts by property and bank statements with a running balance. These reports can be exported and printed for use in your own accounting software, to give to your accountant at year end and to take to a meeting.
Learn more about our anti-accounting accounting feature here.
Happy Managing:)
