Property Management and QuickBooks
Achieve permanent improvements in annual earnings
As a commercial or residential property manager, you need access to day-to-day information and results for each of your properties, rental units, and renters. Without it, you're constantly at risk for:
- Vacancies due to seasonal, market, or demographic shifts
- Delinquent rent
- Property damage
- Legal fees
- Expensive upkeep and property improvements
- Employee time and cost over-runs
- Interest rate fluctuations
Managing properties for yourself... or for others —
Use financial information to increase profits
If you manage your own properties, you’ll need to accurately record rents, security deposits, expenses by building and/or unit, property purchases and sales, short and long-term loans payable, apply loan and interest payments, and track property assets and depreciation.
If you manage properties for others, you'll also need to provide the owners with clear, reliable information such as gross profit per unit, receivables and payables detail, charges for your managment services, and monthly, quarterly, and year-end reports.
Rather than scrambling at tax time, and potentially discovering unwanted surprises, you can establish a cost-effective system to minimize costs and maximize profits by monitoring your financials on a monthly, weekly and/or daily basis.
As Info Plus helps you create an effective, tailored Quickbooks structure, you'll be amazed at how fast and easily you can:
- Track receivables such as rent and security deposits for each unit and tenant.
- Manage security deposits and prepaid rent, including a reconciliation of incoming funds and outgoing costs or payments to individual tenants.
- Monitor vacancies.
- Assign employees' time and labor costs to specific properties or units.
- Assign subcontractor, materials or fixed asset costs to individual properties or units.
- Create reports to verify you're invoicing for property management fees and reimbursable costs.
- Track property purchases, loan and interest payments, property assets and depreciation.
Make a lasting change...
Working smarter, not harder, is the way to make a permanent and lasting change in your bottom line. You've got a lot of work to do at your properties — don't spend needless hours on accounting tasks, and don't lose money because you aren't tracking financials the way you should!
From: Cindy Kogelschatz of Heartland Builders
Cindy Kogelschatz of Heartland Builders explains how Diane Gilson
and Info Plus Accounting helped her save time and money
by transitioning from an unreliable Property management accounting program to QuickBooks…
Info Plus offers industry-specific, one-to-one support and consulting services and online training seminars to clients throughout the U.S.