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Finding the Right Property Management Software
With the rapid growth of technology, software makes lots of things easier for property managers. Property managers currently have a lot occurring making use of their associations. The last thing they must bother about is searching through their computer to locate any particular one spreadsheet or possibly a file folder to get any particular one vendor contract that can not seem to locate.
While generic accounting programs have their own place, they may be very burdensome for managers. Searching through files and spreadsheets to get information wastes valuable time. Today, there are software solutions in place to help you managers streamline their way of life and accounting operations. Having a software system like is a MUST for any company as a way to keep up using their competition. There are several items to consider when looking for software.
Accounting - it is a vital piece of the puzzle. The ideal accounting system will comply with GAAP (Generally Accepted Accounting Principles) along with the practice of accrual accounting. The software must manage to produce financial statements with ease. Although many programs offer alternatives for cash basis accounting, you need to remember that accrual may be the only GAAP preferred method. Accrual accounting also offers many perks to cash basis and allows homeowners associations to see the "bigger picture" in relation to their financial health.
Bank integration - Modern banking lets people to take good thing about ACH / Direct Debit and Lockbox services. recommended you read will also support these functions to assist your small business automate the accounts receivable process. Does your accounting software stick to NACHA standards and provide ACH files that may be uploaded directly to your bank? Can your software support lockbox and download lockbox posting files from your bank?
Management Activities - It's easy to get overwhelmed when attempting to trace violations, maintenance issues, delinquent accounts, architectural requests. These are all basic day-to-day tasks within the management industry, however it becomes very difficult when doing this info is spread across various spreadsheets and software packages. Your property management software solution must be able to support many of these functions easily whilst your information organized in a user-friendly manner.
User Friendliness - This is very very important to management companies. While you'll find many different programs available today, many possess a steep learning curve which could result in higher support costs and longer implementation times. Some software companies require their "specialists" to fly out for training and installation, all with the expense of the new client. Is your new system easy to setup? Is it easy to learn and an easy task to use? Talk to your software company about these questions and request for a demo trial with the software. If the demo seems complicated, the "real" version will not any different.
There are numerous factors which are into determing the best software solution. It's important to take a look at needs as being a management company to look for the best fit. However, some points above are important items to consider in your review process.
Website: http://www.masonre.com.au/