Accounting Software for Real Estate & Property Managers
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Accounting Software for Real Estate and Property Managers – QuickBooks Premier For Property Brokerage Business & Developers In Nigeria Kenya Ghana
Real Estate, Property development, and management cover the processes involved in buying, flipping and selling a property on behalf of a client.
In places like Nigeria, Kenya, and Ghana, we see real estate companies managing properties at several locations and as well ensure that all tenants occupying them are accurately tracked financially.
The big question now is how do you keep your books with the right accounting software to ensure proper reporting and accountability?
This roundup focuses on what an accounting solution customized for real estate industry should deliver before selecting one.
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- The software should track different properties under your custody.
- You should able to assign a location to each property under your custody.
- The software should also track tenants in each of this location with their transaction details like amount payable as rent, the amount paid, outstanding balances, generate invoice and tenants statements.
- The software should track all expenses incurred on a particular property and overall company’s property-related expenses like legal fee, advert cost, and maintenance.
- The software should also calculate all commission earned as income on every property transaction after calculating property cost, landlord’s share and related transaction expenses.
- The software should also track bank balances, capture all cash inflow and outflow from your bank and reconcile any difference at the end of the month.
- A report that captures all income earned from property transactions is very vital for management decision and trend analysis.
- The software should generate all financial report of a company.
- VAT on property sold and Withholding Tax is vital deductions, the software should track and report accurately.
While these are some of the basic deliverables of accounting software customized for real estate and property managers, you can connect with our support center for more questions and implementation services.