In my last guide, I shared tips on how real estate agent and property manager can choose the right accounting solution for their business.
Recommended Guide: Real Estate Management Business & Home Builder & Development
In addition to that, some property managers asked if I could also share detailed tips on how accounting software can work for property or estate rental business.
Request For Our Accounting Software ServiceFor over 5 years, I have implemented QuickBooks for more than 152 companies under Retail, Manufacturing, Oil & Gas, Real Estate & Construction, Travels, Hospitality, Corperatives, NGOs, Financial & Service Sectors.
- Mbaire Services Nigeria Ltd(Construction)
- Future Assured(NGO)
- Doheney HR Services(HR)
- Biddel Oil & Gas Limited (Oil & Gas)
- System Intelligenz Limited(Contractor)
- MagTech Information Security (IT)
- Infusion Cakes Nigeria (Bakery)
- Landmark Centre (Event Centre)
- Mountain Ice Travel & Tour (Travels)
- BTS System (Service)
- Logos Travel Support & Solutions Ltd (Travels)
- Germaine Auto Centre (Autos)
- BD Consult (PR)
- Starlight Nigeria (Retail)
- Temple Private School (Education)
- C. Charles Resources Limited (IT consulting)
- Adeniyi Coker Consultants Limited (Real estate and construction)
- The Nigerian Economic Summit Group (NGO)
- Value Mart Supermarket (Retail)
- Transweb Bureau De Change (Financial Service)
- Wakanow Travels (Travels)
- Vektro Food Limited (Manufacturing & Retails)
- Orient Petroleum PLC (Oil & Gas)
- Plus More
The roundup presents some of the features of a well-customized solution for rental properties:
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- The software tracks all properties owned and cost of acquisition or construction which normally is classified as a non-current asset in your financial report.
- The software manages tenant’s details, the amount owed, payment received for a specified period and generate a statement of account.
- The software tracks all maintenance expenses incurred on a particular property.
- All service charge income received as also accounted for as well as a historical summary of transactions for each tenant.
- The software generates financial reports that are specific to a property like income and expenses on a property for a specified period.
- It also generates reports that specify amount paid to the landlord from rental income if you manage the property on behalf of the landlord.
- The system generates property report based on location for easy comparison.
While these are some of the key deliverables of accounting software customized for your property management business, you can connect with our support centre for more inquiries and implementation service.
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