Common Area Maintenance (CAM) refers to the shared costs incurred in commercial real estate for maintaining and operating common areas within a property. While tenants view CAM as an expense for accessing shared amenities, these operational costs allow landlords to […]
Budgeting and forecasting are twin jewels that form the backbone of good real estate management. Be it a residential, commercial, or mixed-use property, proper budgeting and forecasting ensure the financial stability of each business, strategic planning, and proper decision-making. In […]
A budget is the heart of successful property management for multifamily property owners. Balancing numerous expenses, tenant needs, and revenue streams defines the strength of a well-structured budget. Proper budgeting not only enhances profitability but also ensures efficient property maintenance […]
The real estate industry is dynamic and multi-faceted, often compelling professionals to deal with tasks such as difficult financial operations, regulatory compliance, and stakeholder expectations. Accounting is a critical backbone of real estate operations, but accounting presents some unique challenges […]
In today’s business world, environmental, social, and governance (ESG) matters are key for all companies. As more focus on sustainability grows, managing ESG data well is essential. This article will look at why ESG data management is important, the hurdles it faces, […]
Did you know the real estate sector is responsible for nearly 40% of global energy-related greenhouse gas emissions? This shows how urgent it is for the real estate industry to adopt sustainable practices. In the United States, a big change […]
Real estate accounting is a specialty area that plays a serious role in the success of any real estate business, especially for businesses specialized in property management, real estate development, and investments. Accounting for real estate transactions, income, and expense […]
Real estate fund accounting manages diverse financial transactions, different types of assets, and relationships with the investors. Being an area of accounting different from the traditional kind, it involves handling capital calls, tracking multiple assets, returns’ distribution, and compliance with […]
Yardi is a prominent real estate management software company that’s revolutionizing the industry through its robust, scalable, and user-friendly platforms. Its products offer solutions for everything that professionals and business owners need to know about managing real estate—from property operations […]
In the current corporate environment, the significance of Environmental, Social, and Governance (ESG) factors cannot be overstated. Businesses are under growing scrutiny regarding their societal and environmental impacts. To navigate this landscape successfully, organizations must prioritize effective ESG data management. […]
It is in real estate that the valuation process forms the most important procedure for making decisions in investments, purchases, and loans. Correct valuation aids not only in the acquisition and sale of a property but also gives importance to […]
Buying commercial real estate might be an intimidating prospect for a first-time buyer, but it is one of the most accessible and lucrative asset classes out there for a beginner. Commercial properties, unlike residential real estate, generally require much less […]
The management of a good senior housing facility involves the relationships maintained with vendors. Vendors maintain the facilities in terms of repairs and maintenance, medicine and other drugs, food services, and maintenance of the landscape design of the property. A […]
Student housing is one of the emerging, niche sectors in real estate. From a single student housing property to a large portfolio, tracking your financial performance is extremely crucial. “Thorough accounting” supports profitability, compliance, and operational efficiency. This gives you […]
In the competitive landscape of property management, technology has become a vital tool for success. Property management software platforms like AppFolio and RealPage have emerged as leaders in the industry, providing comprehensive solutions for managing properties efficiently. While both offer […]
The month-end closing process is a series of procedures carried out by the accounting team to ensure that all transactions for the month are recorded, reconciled, and reported. It involves closing the books for the month, preparing financial statements, and […]
ESG reporting has become a vital aspect of business strategy in recent years. As sustainability and corporate responsibility take center stage, businesses must adapt to these evolving expectations. With new regulatory frameworks emerging and stakeholders demanding more transparency, ESG reporting […]
Financial underwriting plays a critical role in the financial analysis of a property to determine its investment potential. It involves reviewing income, expenses, risks, and returns to assess whether the purchase aligns with an investor’s objectives. While lenders rely on […]
In recent years, the significance of Environmental, Social, and Governance (ESG) factors has become undeniable for businesses. Stakeholders, including investors and customers, are increasingly demanding transparency and accountability regarding a company’s impact on society and the environment. As a result, […]
Property management is a complex field that requires a deep understanding of various financial and operational aspects. One crucial element that underpins effective property management is adherence to solid real estate accounting principles. These principles are essential for tracking financial […]
Accounts payable specialist play a critical role in managing an organization’s finances. While their primary responsibility involves handling invoices, ensuring timely payments, and maintaining vendor relationships, their contributions extend significantly into the realms of budgeting and forecasting. Effective AP management […]
In an era where corporate responsibility is under the microscope, Environmental, Social, and Governance (ESG) data collection and analysis have become essential for organizations aiming to thrive. Stakeholders—ranging from investors to consumers—are increasingly demanding transparency about how companies impact the […]
Replacement reserve planning is a crucial aspect of property management that ensures funds are available for future repairs, replacements, and upgrades of property components. However, several common issues can arise in this process, potentially jeopardizing the financial stability of a […]
Real estate data analytics is transforming the way the industry operates, providing stakeholders with the tools and insights necessary to make informed decisions. This comprehensive exploration delves into the nuances of real estate data analytics, its methodologies, applications, and the […]
Asset managers play a crucial role in real estate portfolio diversification, a strategy essential for maximizing returns and mitigating risk in real estate investments. Diversification involves spreading investments across various property types, locations, and markets to reduce exposure to any […]
Financial management analysis is a cornerstone of effective risk management. In today’s complex and dynamic business environment, organizations face a multitude of financial risks that can impact their stability, profitability, and long-term success. Understanding and analyzing financial data provides insights […]
In the realm of property and asset management, maintaining the value and functionality of assets over time is crucial. One essential component of this process is the effective management of replacement reserves. Replacement reserve services play a significant role in […]
Environmental, Social, and Governance (ESG) factors are no longer buzzwords in the commercial real estate sector. They are essential considerations that are shaping investment decisions, tenant preferences, and regulatory frameworks. ESG compliance is not merely a trend; it’s a strategic […]
Construction accounting is a specialized field that presents unique challenges, particularly in terms of compliance and regulatory issues. The complex nature of construction projects, combined with stringent regulatory requirements, necessitates a thorough understanding of the applicable laws and standards. This […]
Economic uncertainty poses significant challenges for real estate firms, from fluctuating market conditions to unforeseen financial pressures. In such volatile times, maintaining accurate and efficient accounting practices is crucial for survival and growth. Outsourced accounting services have emerged as a […]
Real estate portfolio management is a complex and dynamic field that requires a specialized skill set to ensure successful financial oversight and strategic decision-making. Among the key players in this arena is the real estate accounting specialist, whose expertise is […]
Logistics accounting is a complex field that involves tracking and managing the financial aspects of logistics and supply chain operations. Effective cost management is a critical component of logistics accounting services, as it directly impacts the profitability and efficiency of […]
In the landscape of the real estate industry, the utilization of business intelligence (BI) has emerged as a game-changer. Real estate business intelligence encompasses the collection, analysis, and interpretation of data to drive informed decision-making and strategic planning. As the […]
In recent years, the landscape of condo association accounting has been significantly influenced by new legislation aimed at increasing transparency, accountability, and financial health. For condo associations, staying compliant with these laws is not only crucial for legal reasons but […]
Ecommerce accounting is a specialized field that deals with the financial management and reporting requirements of online businesses.
In today’s digitally driven world, communities of all sizes are turning to technology to enhance the quality of life for residents and streamline administrative tasks. Village Management Software (VMS) is a powerful tool designed to help village administrations manage their […]
As a small business owner in the retail industry, you understand the importance of effective financial management. From tracking inventory and sales to managing payroll and taxes, the financial aspects of running a business can quickly become overwhelming. This is […]
Strongroom software is a specialized tool designed to help property managers and community associations manage their accounts payable (AP) processes efficiently. If you are part of an HOA, condominium association, or any property management company, you know how challenging it […]
In the realm of community association management, the need for efficient, robust, and user-friendly software is paramount. Vantaca software stands out as a premier solution designed to streamline operations, enhance communication, and improve financial management for community associations, including homeowner […]
In the ever-evolving real estate market, property managers and owners need robust accounting software to streamline their operations, manage finances efficiently, and ensure regulatory compliance. Feature-rich property accounting software can significantly enhance productivity, accuracy, and decision-making. This blog compares the […]
Acquiring real estate is a significant strategy for growth and expansion in the property industry. Whether an investor seeks to enter new markets, gain competitive advantages, or acquire underperforming assets for renovation, real estate acquisitions offer a viable path to […]
In today’s interconnected business environment, more and more companies are opting accounting outsourcing to external service providers. This strategy can offer numerous benefits, including cost savings, access to expert knowledge, and increased efficiency. However, this shift also presents significant risks, […]
In an era where data is the new oil, the real estate industry is undergoing a significant transformation, driven by advancements in business intelligence (BI).
In today’s corporate landscape, ESG (Environmental, Social, and Governance) data management plays a pivotal role in shaping sustainable business practices. As companies transition from shareholder capitalism to stakeholder capitalism, the demand for transparency, accountability, and ethical decision-making has intensified. Let’s delve into […]
In today’s fast-paced business environment, companies are continually seeking ways to enhance efficiency, reduce costs, and focus on core competencies. One strategy that has proven to be highly effective is outsourcing. Outsourcing involves delegating certain business functions to external service […]
In today’s highly digitalized world, the security of data is paramount, especially for accounting outsourcing companies which deal with sensitive and confidential financial information. Establishing a strong culture of data security is critical; it’s about ensuring that every employee, from […]
In today’s globalized and highly competitive business environment, maintaining ethical standards is more important than ever. Companies that prioritize integrity not only foster trust among consumers and partners but also pave the way for long-term success and sustainability. One effective […]
In the fast-paced world of logistics, transportation accounting plays a pivotal role in ensuring financial health and operational efficiency.
Outsourcing has become a popular strategy for businesses looking to improve efficiency and reduce costs. By delegating tasks or services to external companies, organizations can focus on their core activities while benefiting from the expertise and capabilities of specialized service […]
In the ever-evolving landscape of construction, efficiency serves as the cornerstone of success. Whether it’s managing resources, adhering to tight deadlines, or maintaining profitability, efficiency is a fundamental requirement for thriving in this competitive industry. Amidst the myriad factors influencing […]
In today’s fast-paced business environment, streamlining operations is crucial for maintaining competitive advantage and fostering sustainable growth. Among the various strategies that companies adopt, outsourcing accounting functions has emerged as a particularly effective approach for enhancing operational efficiency. This strategy […]
In today’s digital age, cyber threats have become an ever-increasing concern for businesses across all industries, especially those handling sensitive financial data. As an accounting outsourcing company providing offshore accounting services, we understand the paramount importance of robust cybersecurity measures […]
In today’s rapidly evolving and fiercely competitive business environment, trust reigns supreme in every interaction, particularly within the realm of accounting outsourcing services, where clients rely on firms to safeguard their confidential financial data. Given the high stakes involved, establishing […]
Introduction In the fast-paced business world, financial clarity and efficiency are crucial for success, and nowhere is this more evident than in the management of accounts payable (AP). AP, encompassing everything from invoice processing to managing debts owed to suppliers, […]
Introduction In the rapidly evolving commercial real estate (CRE) sector, staying ahead of the competition is crucial. One effective strategy for real estate companies to achieve this is by outsourcing commercial lease abstraction. This process, which involves the meticulous extraction […]
In the fast-paced world of business intelligence and data visualization, Power BI has emerged as a powerful tool for organizations to gain valuable insights from their data. With its interactive and visually appealing dashboards, Power BI provides a comprehensive view […]
Introduction CAM (Common Area Maintenance) reconciliation serves as a cornerstone in the realm of commercial real estate management, facilitating equitable distribution of maintenance expenses among tenants. This fundamental process ensures transparency and fairness, playing a pivotal role in fostering harmonious […]
In recent years, Environmental, Social, and Governance (ESG) factors have gained significant prominence in the corporate world. Companies are increasingly recognizing that sustainable practices and responsible business conduct are not only good for the planet and society but also essential for long-term […]
In the realm of data visualization and business intelligence (BI), Microsoft Power BI stands out as a pioneering platform. It offers comprehensive tools that empower organizations to collect, manage, and analyze data from various sources, turning it into actionable insights. […]
Introduction In the realm of commercial real estate, successful asset management is the cornerstone of long-term success and profitability. Commercial property accounting, as an integral component of asset management, plays a pivotal role in ensuring the efficient operation and financial […]
Introduction Liquidity management is all about making sure there’s enough money or things that can quickly be turned into money to pay for stuff when we need it. It’s like having enough coins in your piggy bank to buy candy […]
Introduction: In today’s fast-paced business environment, where data is ubiquitous and the landscape of financial management is more complex than ever, the need for advanced tools to decipher this abundance of information has become critical. The fields of data visualization […]
In recent years, a significant shift has occurred in the world of investing. Environmental, Social, and Governance (ESG) criteria are rapidly emerging as critical factors in investment decision-making. This surge in ESG integration reflects a growing understanding that companies committed […]
Introduction When diving into the world of real estate fund accounting, two big names you often hear are IFRS and GAAP. These might sound like complicated financial terms, but they’re actually just sets of guidelines that help companies, including those […]
In today’s rapidly shifting real estate landscape, having the right data to guide informed decisions is critical. Real estate dashboards powered by business intelligence (BI) have become indispensable tools for real estate professionals seeking an edge in dynamic markets. The […]
Introduction In the dynamic landscape of commercial real estate accounting, sustainability and Environmental, Social, and Governance (ESG) reporting have become increasingly prominent topics. As businesses across various sectors embrace the principles of sustainability and social responsibility, commercial real estate firms […]
Introduction Accounting serves as the backbone of financial management across various industries, offering insights into revenue, expenses, and overall profitability. However, when it comes to the construction sector, accounting takes on a unique dimension, marked by specialized practices tailored to […]
INTRODUCTION The real estate industry is a multifaceted and dynamic sector that offers immense potential for financial growth and investment opportunities. Whether you are a real estate professional, property owner, or investor, you are well aware of the complexities involved […]
Introduction: Real estate investment can be a lucrative and rewarding endeavor. However, it also comes with a host of financial complexities that require careful management and accounting. As a real estate investor or property owner, you face a pivotal decision: […]
Let’s talk about a really important part of how businesses handle their money, known as “accounts payable.” Things are changing a lot in this area, and we’re going to explore the big trends that are happening now and in the […]
The world of accounting services is in a constant state of evolution, shaped by technological advancements, regulatory changes, and shifting business landscapes. As we step into 2024, it’s crucial for professionals in the accounting services field to stay informed about […]
In an era characterized by unprecedented business challenges and global volatility, the effectiveness of asset management practices has become a key determinant of organizational success or failure. The realm of real estate and property is no exception. Real estate asset […]
Introduction: Construction is a multifaceted and often intricate industry that demands meticulous financial management to ensure projects are completed successfully, on time, and within budget. Effective construction accounting is the linchpin of this financial oversight, providing construction companies and contractors […]
Introduction Effective management of accounts receivable is crucial for the financial stability and growth of any business. However, the complexities of invoicing, payment tracking, and debt collection can overwhelm internal resources and detract from core operations. This is where accounts […]
Introduction Real estate investing is a promising avenue for building wealth and financial security, but it can also be a demanding and complex endeavor, especially for small investors with limited resources and time constraints. The responsibilities of property management, tenant […]
Introduction In today’s fast-paced business landscape, companies are constantly seeking innovative ways to streamline their operations, reduce costs, and enhance efficiency. One such solution that has gained tremendous traction in recent years is accounting outsourcing services. By entrusting their financial […]
Introduction: Construction is a multifaceted and often intricate industry that demands meticulous financial management to ensure projects are completed successfully, on time, and within budget. Effective construction accounting is the linchpin of this financial oversight, providing construction companies and contractors […]
IntroductionIn the ever-evolving landscape of the real estate industry, where properties are bought and sold, investments flourish, and financial decisions drive success, the role of efficient and adaptable accounting cannot be overemphasized. Traditional accounting systems have played their part in […]
IntroductionIn the world of real estate investment and management, rent roll analysis is a critical practice that provides valuable insights into the financial performance and potential of properties within a portfolio. While rent roll analysis is important for single properties, […]
Hey there! Ever wondered how the world of property management has transformed over the years? Let’s take a fascinating journey through the evolution of property management software, and I promise, it’s more intriguing than it sounds! The Early Days: Manual […]
Introduction: Navigating Real Estate ComplianceWelcome to the intricate world of real estate accounting, where meticulous attention to detail meets stringent regulatory standards. Today, we embark on an explorative journey into the vital role of compliance audits in this dynamic field. […]
Investing in real estate has long been considered a sound strategy for building wealth and diversifying investment portfolios. When it comes to real estate investment, two primary options are available: investing through Real Estate Investment Trusts (REITs) or direct ownership […]
Introduction: FASB’s Central Role in Real Estate AccountingIn the complex world of real estate accounting, the Financial Accounting Standards Board (FASB) stands as a pivotal institution. This independent body is responsible for setting the standards that govern how real estate […]
Real estate finance is a complex and dynamic field that plays a pivotal role in the global economy. Among the various tools and techniques available in this domain, loan abstraction stands out as a powerful tool that can significantly impact […]
Property management has evolved significantly in recent years, thanks to advancements in technology and changes in work dynamics. One of the most notable developments is the rise of remote property management services. These services offer property owners and managers a […]
Accounting is the financial backbone of any real estate business. Proper management of finances, compliance with tax regulations, and accurate reporting are crucial for success in the industry. When it comes to handling accounting functions, real estate businesses have two […]
Construction projects are marvels of human ingenuity, transforming visions into concrete structures that shape our cities and landscapes. Behind the scenes, construction accounting plays a critical role in ensuring that these projects are financially sound and efficiently managed. However, construction […]
In the world of real estate, short-term rentals and vacation properties have become increasingly popular investments. However, managing the financial aspects of these properties can be complex and challenging. In this comprehensive guide, we will delve into the intricacies of […]
The real estate sector, with its vast potential for growth and profitability, often witnesses a flurry of mergers and acquisitions (M&A). These strategic moves can reshape the landscape of the industry, offering firms a chance to expand their footprint, diversify […]
In the bustling realm of real estate, property management firms stand as the backbone, ensuring smooth operations, tenant satisfaction, and optimal financial management. Central to their success is an efficient accounting system. Without it, the vast financial intricacies these firms […]
Real estate investments often represent one of the most significant financial commitments individuals make in their lifetime. Whether you’re a first-time homebuyer stepping into the world of property ownership or a seasoned real estate investor, a comprehensive understanding of mortgage […]
Let’s imagine you have a car. Sometimes, you buy big things for it, like new tires. Other times, you just get oil changes or wash it. In the world of business, these two types of spending have special names: “Capital […]
When you rent a place, like a store or an office, you often want to make it feel more “you”. This might mean adding a fresh coat of paint, putting up new shelves, or even changing the lighting. These changes […]
In the multifaceted realm of real estate accounting, ethical considerations stand at the forefront. Real estate accountants, often seen as the financial sentinels, bear the weighty responsibility of ensuring that financial statements and records are not only accurate but also […]
Foreclosures, a term often associated with financial distress, are a significant aspect of the real estate and banking sectors. Properly accounting for and reporting these properties is crucial for transparency and accuracy in financial statements. This article delves deep into […]
The realm of commercial real estate is vast, multifaceted, and brimming with potential. Ensuring that a commercial property realizes this potential largely falls upon the shoulders of commercial property managers. Their strategic efforts and administrative acumen significantly influence the asset […]
In the vast tapestry of the real estate sector, numerous threads weave together to form its intricate design. One such vital thread is the evolution of residential property management companies. By delving deep into this evolution from a financial and […]
The expansive universe of real estate, abundant in opportunities and equally rife with complexities, has continued to evolve and grow in scale and sophistication. As we navigate through an era that upholds the highest standards of transparency, diligence, and precision […]
Real estate accounting plays a crucial role in managing and analyzing the financial aspects of property investments. However, accounting practices can significantly vary between commercial and residential properties due to the distinct nature of their operations and revenue generation. In […]
Real estate is a lucrative investment option that attracts many individuals and businesses due to its potential for generating income and building wealth. However, to succeed in the real estate industry, it’s essential to understand the financial aspects involved. One […]
In the world of commercial real estate, property owners are often faced with common area maintenance (CAM) expenses. These expenses, including common area maintenance expenses accounting, are related to the operation and upkeep of shared areas in a property and […]
Efficient accounting for rental property is crucial for property owners to effectively manage their investments, optimize financial performance, and ensure compliance with tax regulations. By streamlining successful real estate accounting processes, property owners can save time, minimize errors, and gain […]
In the dynamic field of real estate, asset management plays an increasingly pivotal role. As the industry continues to evolve and adapt to the changing times, the roles and responsibilities of real estate asset managers become even more vital. Real […]
Real estate investment is an attractive avenue for generating wealth and building a diversified portfolio. However, successful real estate investing requires a deep understanding of various metrics and indicators that can help investors make informed decisions. In this blog post, […]
Financial reporting is a crucial aspect of multifamily real estate investing. It provides investors, property owners, and stakeholders with valuable insights into the financial performance and health of multifamily properties. By understanding and analyzing key reports and statements, investors can […]
Real estate asset management is a complex and multifaceted field that involves the management and optimization of various types of properties. Whether it’s residential, commercial, or industrial real estate, effective asset management is crucial for maximizing returns and ensuring long-term […]
Homeowners’ Associations (HOAs) play a crucial role in managing and maintaining communities, ensuring that common areas and amenities are well-maintained and property values are preserved. Central to the effective operation of an HOA is proper accounting and financial management. In […]
In the competitive world of real estate, companies are constantly seeking ways to optimize their operations and focus on their core competencies. One increasingly popular solution is outsourcing real estate accounting services. By entrusting their accounting functions to specialized service […]
Real estate accounting software makes life easier for real estate professionals. They help manage multiple properties, handle complex lease agreements, and deal with a range of financial and compliance requirements. However, finding the best real estate accounting software for your […]
The role of asset management in the real estate sector is to oversee the entire property end-to-end. Driving revenues and profitability is an important aspect of function. This is where establishing clear Key Performance Indicators (KPI), or key metrics, can […]
A multifamily budget variance occurs when there is a difference between the actual expenses, revenue of a property, and the budgeted amounts. Analyzing multifamily budget variances helps the leadership and management understand what transpired, why it happened, and what could […]
As a business owner, you have many things to think about. You must ensure that your employees are well-trained and productive, customers are happy with your service, and your finances are in order. Outsourcing accounting needs is one of the […]
Every entrepreneur wants to see their business grow. However, rapid growth also brings along significant operational & accounting challenges for small business. If you’re not prepared, it can quickly strain your staff and resources. Below we’ve outlined the top accounting challenges of […]
Real Estate Investment Trusts (REITs) are companies that own, operate, or finance income-producing real estate. They offer a way for individual investors to earn a share of the income produced through commercial real estate ownership without having to buy, manage, […]
Business accounting is largely considered the foundation on which the success or failure of an organization depends. Not only does it help companies classify, understand, record, and interpret their basic financial data, but it also equips them to find a […]
Accounts receivable are a company’s future revenue stream. While many top accounts receivable outsourcing companies exist, bringing order to accounts receivable is still a strategic imperative. This is where automation in accounts receivable comes in. Automation helps you improve efficiency, […]
An essential financial tool that helps accountants and business owners evaluate their organization’s finances is the accounts receivable aging report. It divides outstanding bills into age-based categories to provide a clearer picture of the company’s cash flow and detect any possible […]
Nowadays, we’re witnessing rapid innovation in the realm of real estate technology. Innovations are constantly moving and enhancing how we function, making this a fantastic time to be a part of this industry. In the last few years, the real […]
Keeping tabs on rental income and expenses is a crucial element of being a successful real estate investor and entrepreneur. Unfortunately, this practice is also among the things real estate professionals dislike the most. However, staying clear of IRS trouble […]
Investing in Real Estate Investment Trusts (REITs) offers several advantages, such as diversification, liquidity, and access to professional management. However, one of the critical aspects that investors must understand before investing in REITs is the tax implications. The taxation of […]
Real estate investment trusts (REITs) own, manage and finance income-generating real estate across a broad spectrum of property sectors. To be classified as REITs, these real estate firms must satisfy several criteria and regulations. Most REITs are listed on prominent […]
As an owner of commercial real estate, have you ever wondered what your net worth is? The quickest way to determine your net worth is by looking at your balance sheet. You can determine the value of each property and […]
As a provider of property management services, you have a lot of challenges to deal with. Your primary responsibilities include managing leads, listing properties, document management, planned preventive maintenance, and billing and payment collection. While these are your core business […]
An escalating number of transactions, adherence to a plethora of state regulations, etc., are now part of the real estate industry’s standard operating procedures. Most of all, real estate businesses must maintain accurate books because accounting is a crucial and […]
The real estate accounting requirements of HOA communities can be complicated. Budgets, financial objectives, and compliance with state rules and regulations regarding HOA finances are all the responsibility of the board. However, not all board members come with extensive accounting […]
To be successful in your real estate business, you need to retain your existing clients and scale your business by getting new clients. All of this requires an investment of a lot of time and effort. If you focus on […]
As an essential alternative asset class, real estate is considered among the least risky investments that offer diversification and excellent yields for all sorts of investors. Although not everybody is cut out for the rigours of discovering, purchasing, and maintaining a single […]
Do you want to invest in real estate but don’t know where to start? Are you interested in learning the pros and cons of real estate investing? Most importantly, are you aware of the tax benefits of real estate investing? […]
As the financial year draws to a close, it might seem too early to review your accounting system as a business owner. Should you start checking your books of accounts at the end of the financial year? The answer is […]
Like the majority of industry players, you might frequently feel rushed, with insufficient time available during the day to manage your business and set up your company for expansion. If you had a choice, undoubtedly, you would prefer to devote […]
Lease abstraction refers to the process of condensing and deriving key clauses or provisions in leases and related lease documents to make it easier for tenants to comprehend the terms and conditions of leasing space from the landowner’s property. Lease abstracting could be a […]
Lease administration is instrumental in the effective management of risks, lease terms execution, recoveries, and accounting, which opens up huge cost-saving opportunities and provides you immense control and authority over lease portfolios. People frequently find themselves in a precarious situation […]
Closing the fiscal year is one of the most essential duties in a firm’s processes. It ensures books are accurate, complete, and ready for compliance and reporting purposes. Proper year-end accounting helps identify discrepancies, ensures tax compliance, and builds the […]
Having a successful real estate business is half the job done; the other half depends on how well you manage your business’s finances. Not managing your finances means paying higher taxes, negative cash flows, or federal penalties. In this blog, […]
In modern times, technology is advancing rapidly, making it crucial for every business to automate its processes. It is no different for the accounting domain, and to survive in this competitive world, companies must automate their accounting procedures. This is […]
Accounting is an important support function for any business. Traditionally, businesses have always had an accounting department, which ensures that the books are updated every month and that the company is in great fiscal shape. Technology is shifting this reality. […]
When renting out a property, it is normal to renew the lease with an existing tenant. Lease renewal helps continue your relationship with a tenant who has been regular with rent payments and has taken good care of your property. After […]
Buying, selling, and managing any piece of real estate is a long-term investment game. It comes with several challenges as well as rewards, provided it is handled with the right expertise. A growing practice in the real estate sector is […]
Real estate has always been a prominent business industry. Similar to every other business, accounting plays a considerable part in this domain. Accounting is usually an integral part of business as it assists in optimising and managing financial resources. Nevertheless, […]
Business process outsourcing is back in vogue today. Whether large scale or not, all companies alike are actively seeking to improve their operational efficiencies and turnaround times by hiring outsourcing partners for various business processes. In fact, in a research […]
Accounting services are important for any company since failure to adhere to government regulations can attract severe penalties. However, if accounting is not your core business, you should avail of finance and accounting outsourcing companies. These firms are specialists and […]
Real estate has always been an outstanding business field, and like every other industry, accounting plays a considerable role here. Accounting is usually considered the backbone of a business as it aids in managing and optimising its monetary resources. However, […]
Real estate is a business with long sales cycles and a complex accounting mechanism. It is important to understand the nitty-gritty of accounting for real estate investors to increase productivity. With a view to achieving favourable cash flows and healthy […]
As real estate agents, there are two essential things you need to remember to stay in business. First, ensure that your existing clients are happy and refer new clients to grow your business. Second, maintain your books of accounts as […]
With the sheer number of property management companies in the country, you will be left spoilt for choice. One way to select the best property management services is to assess your needs to reduce expenses and develop a long-term relationship. […]
Accountants are important in businesses large and small. Whether you use an accounting outsourcing service or hire an in-house accountant will depend on your business needs. But choosing the right accountant for your firm should be done with utmost care. […]
What is Real Estate Accounting? Real estate involves a large number of financial processes and complications, numerous regulations and laws to follow, multiple transactions for the same property, and many other complexities that need to be organised and managed meticulously. […]
For those of you who are property owners or landlords, there is always one troublesome unanswered question – how do you make sure that you get your rent on time? The reason for this is very simple. The rent could […]
Real estate companies have to deal with hefty transactions and bills. As a result, accountants of real estate companies are always under pressure. Accounting errors can be quite costly for real estate organisations in the long run. This is why accountants […]
If you’d ask any real-estate executive of a company, “how do you manage the lease portfolio of your organization?”, they are likely to offer you spreadsheets or other similar software as the answer. However, the increasing complexity of the lease […]
Real estate comprises land, buildings, and natural resources. Commercial properties for sale include hotels, offices, stores, and more. Research centres, warehouses, and factories are considered industrial property. The real estate business has evolved beyond just the purchase and sale of […]
In any business transaction, the seller wants to ensure that the buyer has sufficient funds to pay for a purchase. The seller needs an assurance or guarantee, known as proof of funds. Let us understand the POF’s meaning. POF is […]
Real estate agencies have to complete several internal processes besides selling and renting properties. One such process is accounting, which needs to be performed regularly by a real estate firm. Many real estate agencies hire in-house accountants to complete the […]
Accounting forms the backbone of business health. While many accountants work diligently to ensure that errors or blunders do not happen, many businesses still believe that their accountants work reactively rather than proactively. In fact, in a study conducted by […]
Financial statements should always provide the true value of financial and operational information. The definition of true up is to level, align, and balance something. When two or more accounts are matched or reconciled, the true up process is in […]
Investing in rental property is usually considered to be the most preferable investment strategy for multifamily investors. Not only does it provide them with an additional source of regular income but it also results in a steady appreciation of their […]
Investing is called the game of numbers and luck. With luck being out of one’s hand, knowing one’s numbers becomes the only possible factor that separates the good from the great. The numbers of any business lie in its balance […]
Buying a real estate property and putting it up for rent is a great source of income these days. The property owners either put their assets on rent for residential or commercial purposes. Obviously, the target is to get rent […]
Investing in real estate is highly recommended by financial experts, given the underlying value it possesses. However, finding the right real estate to invest in can be quite challenging. It is one of the key factors used to monitor the […]
When it comes to running a business, Small and Medium Enterprises (SMEs) have to deal with a number of activities such as executing their core functions, dealing with clients, managing accounts, etc. However, all these can get taxing on the […]
Rental homes can come with many costs, from maintenance and upkeep to interest on the mortgage. However, having a rental property can assist you in building wealth over the long run and diversifying your income streams. Specifically, having a steady […]
Property owners expect a property maintenance report to keep track of their assets. The property management company gives the owner a clear understanding of their asset using financial reports. Property management software is used for this purpose. Property management reports […]
A business premise plays a vital role in an organization’s market survival, making its maintenance and management a pivotal practice. No matter your business scale, a business owner is always burdened with an abundance of responsibilities. From monitoring business funds, […]
The real estate business is a highly lucrative asset for investors all across the globe. It entails having multiple properties that can be rented out. In order to do it successfully, you need to maintain a property portfolio as this […]
Welcome to the arena of virtual reality (VR), a technology that immerses the user into a virtual world and thereby has significant implications for real estate companies. Harnessing technology, virtual reality has helped bridge the gap for buyers in the […]
Though quite lucrative, real estate investments require prior planning and a thorough understanding of the real estate financial ratios. The ratios are used to analyze investments and determine their rate of return, cash flow, and profitability. Since real estate is […]
What is a Lease Abstract? Lease abstract is a commonly used word in the real estate world. You must have heard of the term several times but in case you don’t know what is a lease abstract, we are here […]
What is a Financial Dashboard? Financial dashboards are comprehensive management tools that help organizations to keep track of relevant financial KPIs and take quick actions on the pressing financial issues. Financial management dashboards help with providing an efficient cash management […]
Outsourcing has been steadily becoming main-stream even in mid-size companies over last five years driven by the successful case studies in large organization, greater awareness, the explosion of cloud computing and falling costs of communication. This article aims to be […]
We understand that a real estate investor is burdened with loads of work which includes managing one or more properties, their maintenance, finding reliable tenants, and ensuring the overall profitability of the business. With all these responsibilities real estate accounting […]
Recently, technical improvements in the accounting sector have resulted in the introduction of the concept of CAS, or Client Accounting Services, which is quickly gaining popularity among consumers and is becoming increasingly popular. As a company flourishes and its growth […]
These days, technological advancements have seeped into the core of operations across all industries alike—and accountancy is no exception. The advent of new methodologies to carry out the functions of accounting as a service without being confined to traditional techniques […]
As a real estate business owner, you should be spending time interacting with property buyers and sellers to close more sales. If you spend time on routine accounting tasks, you may lose a customer. Keeping a track of the accounting […]
Accounting procedures and practices differ according to the type of business and practices adopted by organizations across sectors. In the construction industry, firms and contractors face unique challenges when it comes to accounting, as accounting for the construction sector is […]
If accurate projections about future business growth based on your current performance are vital, creating a backup of your financial accounting data is even more critical. You might need the data to check financial transactions between your company and customers, […]
Accounting is a compulsory process for realtors around the world. The primary focus of realtors is to sell properties. However, they need to find some time for managing their books. Accounting books are required for many tasks, from tax filing […]
Outsourcing is a ‘one size fits all’ remedy that seems to help with cost-cutting initiatives in major corporations to small enterprises. It was the Fortune 500 Companies that first demonstrated that organizations could focus on customer service if they outsource […]
The contemporary digital world is powered by data. The importance and applications of data have grown exponentially over the last decade. Businesses rely on big data for obtaining valuable insights related to their target market, industry and future growth prospects. […]
Real estate is one sector that is full of high risks. Its owners need to keep their property records very carefully. With a slew of funds and plenty of projects picking up momentum in the past quarters, the real estate […]
Technology has revolutionized the outsourced accounting industry in so many ways that it is becoming increasingly difficult for accounting firms to stay up with all of the most recent trends and developments. A new set of skills must be created […]
Cryptocurrency and blockchain technology have taken the world by a storm recently, with being extremely lucrative and safe for use at the same time. However, it is decentralized finance, or DeFi, that has been at the forefront in the crypto-umbrella. […]
To know how well your business is doing, you need a proper accounting system in place. Cash flows, profits, and losses are vital signs for the health of your business and help you take long-term strategic decisions to improve your […]
The contemporary business landscape is very dynamic. To keep a check on unfair business practices, governments worldwide have numerous compliance measures in place. The compliance rules and regulations vary depending on the industry and type of business. There is a […]
Almost every major industry uses some form of artificial intelligence (AI). AI algorithms are streamlining processes in a variety of industries, including healthcare and transportation. Artificial intelligence (AI) is now being used in almost every sector where data is being […]
Finances are a good standard to measure how well your business is doing – they tell you how much capital your business stands on as of now. While the current financial situation does reflect the status of your business, it […]
The COVID-19 pandemic had a widespread impact on the global economy due to the lower volume of transactions leading to losses. In the real estate sector, the impact has been even more significant since the ticket size of each real […]
Accounting for small business owners, with just a few employees on the payroll, select products, and a limited number of transactions is often seen as a herculean administrative task. Especially for businesses operating in the construction arena, accounting can […]
The long-term tangible pieces of property are termed fixed assets. Every company/business type requires certain fixed assets to carry out their operations smoothly and generate income through them. These may include plant, property, equipment, etc. These capital asset types play […]
COVID-19 has hit businesses globally, and the commercial rentalproperty market has not been spared. There are significant disruptions likely in the short and medium term. The work-from-home concept has become a norm and is just one of the few trends […]
Accounting for Common Area Maintenance, or Reconciliation, better as CAM, contributes majorly in achieving accuracy in accounting and cash flow. It is one of the most critical processes in the commercial leasing process in real estate that needs to be handled extremely […]
Business revenues have been hit badly due to the pandemic, and businesses are still trying to adapt to the new normal. Not only have revenues come down, but the collection of revenues from customers has also been affected. Every business […]
Transportation and logistics companies play a major role in everyday commerce by moving goods from one place to another. From procurement of raw materials to the final delivery of packaged goods to the end consumer, it acts as an important […]
Asset management refers to the collection and storage of all data relating to your business assets. The definition of asset management comprises both tangible and intangible assets. You can find all the information you need in a centralized dashboard. Asset […]
Lease agreements can be very lengthy. Based on the timeframe of the lease, along with different terms and conditions, the length of the lease agreement varies. Short-term lease agreements may be about 12 pages long, whereas long-term ones may exceed the 50-page mark as well. Going […]
Budget – The Key to Business Profitability is one of the essential parts of planning a business. Without budgeting, there is no control over the cash flow, and it cannot be known in which direction the business is moving. A […]
Did you know that 94% of the accountants have adopted cloud accounting? With the technological capabilities of industries advancing rapidly, the day is not far when virtual accounting services will overtake the traditional mode of doing this job. The surprising […]
Today’s business owners face great challenges in maintaining financial transparency and complying with government norms. Under such complex scenarios, it is advisable to switch to outsourcing services like auditing and accounting. By outsourcing your accounting services to professionals in the […]
Every eCommerce business, whether it’s run through Amazon, BigCommerce, Etsy, or Shopify, needs a robust accounting system in place to handle the financial aspects. Ecommerce accounting is a business’s foundation, and a solid foundation is necessary to keep a business […]
In the ever-evolving landscape of business, organizations worldwide are confronting unprecedented challenges that have the potential to create profound impacts. The onset of the Covid-19 pandemic has been a testament to this, reshaping the very fabric of professional environments. For […]
Accounting is an indispensable part of any business, even real estate. Real estate finds several uses for accounting services, which has led to an increased demand for real estate accounting services. To find an accountant is a lot of work […]
The construction industry has been a growing enterprise for the past few years. By determining the efficiency of the projects and the time taken to develop them, we can determine the growth. In recent years, we have seen some technologically […]
Technological advancement is the way to the future. The coronavirus event has proven this point by accelerating technology adoption into industries worldwide. Although the COVID-19 pandemic seems to have set things back at first glance, the Real Estate sector has […]
“I want to invest in real estate, so I started looking for a property 2 months back. While I initially started searching both single-family and multifamily rentals, I believe a dedicated choice would help me make a quick decision. Which […]
In simple terms, Best Commercial Property Management Software is designed to assist landowners and real estate businesses in managing their various properties. These software can perform multiple tasks such as keeping tabs on rent, scheduling maintenance and repair tasks, managing […]
Closing of books at the conclusion of each year is a traditional task, and an effective bookkeeping procedure simplifies the entire process. The closing process encompasses the year’s transactions and ensures an appropriate categorization. Newly established businesses often encounter considerable […]
The global Coronavirus pandemic has adversely impacted businesses across multiple domains. It has changed the definition of normal, and a new normal has taken over, forcing people and businesses to sustain accordingly. The nationwide shutdowns impacted a majority of industries […]
Managing cash flow (Cash Flow Management) is the key to manage a business efficiently, and it’s the same for the real estate business. It is cash that helps you pay your bills for your real estate business to survive. But […]
As a real estate agent, your goal is to help connect as many buyers and sellers of properties as you can to maximize your revenues. If you thought closing a sale was where your job ended, you are on the […]
![Top Accounting Mistakes in Real Estate Industry [Infographic]](https://www.outsourcinghubindia.com/wp-content/uploads/2020/10/real-estate-industry.jpg)
Real estate accounting is the backbone of the real estate industry. Real estate entities need to fully understand their current financial accounting, regulatory and compliance reporting requirements. This level of awareness helps in reducing the inherent risks of various transactions […]
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Small business owners face daily challenges on many fronts, from generating customer happiness, to managing inventory, to promoting their products/services and to fighting competition. One of the most crucial ones is running an efficient accounting department. A business owner often […]
If you‘re a landlord, you must be wondering what would be your best option when it comes to leases in order to optimize returns. It should have the least hassles when it comes to expenses and long-term steady flow of […]
Buildium Property Management Software is a cloud-based tool that helps in managing and streamlining business activities, including vacancy management, rents & payments, maintenance cycle management, and accounting. This software can be utilized for daily activities, such as sending reminders and […]
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Information technology has undeniably changed the way in which firms simplify their processes and expand their business vision. The outsourcing companies are continually expanding their horizons to give the best of the service efficiently to their customers. For example, in […]
As a real estate manager, you are already aware of the altering aspects of the industry, which makes accounting a tedious task. Especially in this sector, you need to keep track of the myriad of state and national regulations and […]
Outsourcing accounts payable process is where accounts payable of a company is managed by some third party accounts payable companies. This means, as a business, you handover your accounts payable process to a company that specializes in it. Through account […]
If you want to be a successful business owner, then you need to take care of more than just your market share. You must have details of all the accounting transactions in your business depending on the industry you belong […]
Renting a commercial zone is a monumental duty as the chances of triumph or failure of your firm depends on the specified terms of the lease agreed upon by the corporate tenant. i.e. commercial lease terms. Before approaching a property […]
The global pandemic, COVID-19, has impacted companies of every size as they are trying their level best to contend with economic and health challenges. Companies across the globe are operating as remote firms, working virtually from their homes, in an […]
Reconciliation of your business bank account implies that you are comparing your internal financial records against the records supplied to you by your bank. A monthly bank reconciliation enables you to identify any suspicious transactions that could potentially be fraud […]
You are focusing on your business and providing the best service possible to your clients and expanding your business, but are you successful? Your answer might be ‘yes’, of course, you are! But wait, having a great marketing strategy to […]
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Accounting itself seems a bit complex situation to handle for many businessmen. And when it comes to property management accounting, the property managers have to take care of land, rents, invoices etc. in a meticulous manner which makes it quite […]
To say that real estate outsourcing accounting is complicated would be an understatement. The large sums of money moving in and out while selling and investing in properties can be daunting. These numbers need to be handled efficiently and accurately […]
Property management, in simple terms, involves the administration, supervision, and maintenance of various residential and commercial properties with the primary aim to generate income and enhance value. Be it premium apartments, condominium units, shopping centers, or rental houses – property […]
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Outsourcing Finance & Accounting (F&A) role has been a popular trend today. The main benefits of accounting outsourcing include cost reduction, efficient processes and accurate reporting. Aside from this, it has helps the business owners to focus on core competencies. […]
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Real Estate Outsourcing is soon catching business trends. Small and medium real estate businesses exclusively stand to benefit from the inherent advantages of outsourcing. One of the most inherent advantages of this practice is that a business tends to incur […]
The global pandemic, COVID-19, has impacted every sphere of human dwelling. Under such challenging situations, where every state, country, or region is following its own set of regulations to fight and cope with the present scenario, even landlords and property […]
The recent Covid-19 pandemic has set forth a new trend for corporates and enterprises – working from home. With lockdown and social distancing rules being practiced everywhere, adopting cloud accounting solutions for your business is the wisest move you can […]
If you manage a homeowners association and intend to cut costs, you should consider outsourcing accounting to a professional financial services firm. Outsource HOA accounting is an economical solution that can save your association a large sum of money in […]
The Coronavirus pandemic has taken a heavy toll on the regular operation of almost every sector. Businesses have been adversely hit, leading to a shortage of staff and equipment, disrupted cash flow, and other anomalies. It is getting laborious for […]
Getting lease abstract services helps you to get relevant data from a lease document. This is usually signed by both the tenant as well as the landlord. Furthermore, these services have gotten enough recognition during the present time. The better […]
The COVID 19 or Coronavirus crisis has affected the entire world quite drastically. It has been classified as a ‘pandemic’ by the World Health Organization (WHO). Currently, the pandemic has made a significant impact on both human civilization and the […]
QuickBooks is a best-selling suite of programs by Intuit, designed exclusively to rationalize complex financial operations that include budgeting, expense tracking, payroll, inventory, and sales. The software caters to all the financial needs of a small business firm. Some of […]
To be a successful business person, you can’t just focus on providing quality products and services to your existing customers, you also need to keep an eye on your finances. There has to be proper checks on all financial transactions […]
Small business accounting is an organized process which helps in keeping track of the financial activities of a company. Bookkeeping, on the other hand, is a systematic process of keeping a record of every single company transaction. Both the processes […]
The COVID 19 pandemic has hit the world just at the advent of a new financial year. The economy, on the whole, has been majorly affected due to this global mishap. However, our spirits are high, and humanity will bounce […]
Efficient lease administration process in any company aids the organization to achieve a scalable, streamlined and convenient processing of commercial real estate operations. It further helps in eliminating cost redundancy and unnecessary legal exposure. Unlike administration that merely deals with […]
Yardi Voyager is a software that assists in the management of commercial and residential properties. It offers a vast array of benefits to the real estate industry and assists in the management of both commercial and residential properties. Yardi Voyager […]
Lease abstraction process refers to the way in which the important or crucial points covered in a real estate lease agreement are summarized. A lease abstract summarizes the key aspects of a lease agreement from a legal, business, and financial […]
Outsourcing has been rapidly gaining popularity in recent times and has contributed to the reshaping of many industries, both within the country and outside. With the current changes in the world market, industries and organizations are using a lot of […]
Introduction Most managers these days put their customers above everything, going out of their way to provide services, and bailing them out from unfortunate situations and crisis. However, while these acts of generosity help them build goodwill and reputation, they […]
When you’re starting out as a property investor, the plethora of real estate investing terms might sound like nothing more than a lot of incomprehensible jargon. These hard-to-pronounce terms can initially seem somewhat intimidating. However, it is essential for investors […]
When you speak to a real estate broker before buying an apartment, you come across a lot of jargon which might sound confusing. Do the words Condo Strata HOA and Co-op associations sound familiar to you? If they are, then […]
Introduction Despite being a huge industry, property management is highly fragmented, with major property management firms having only a handful of employees. Initially, getting into the business might be easy, but keeping up and achieving success in the property management […]
The fundamental ideology of commercial property management is no longer the maintenance of a building in today’s mercurial and ever-advancing market. The meaning has broadened to include maintaining and effectively handling of business as-well. The building must offer an intellectual […]
Do you want to make the most out of your property investment? If your answer is yes, then here is a guide to help you out. Getting a tenant, regular rentals and ensuring lower vacancies are only part of your […]
Introduction With over 23 million landlords and over 113 million renters in the U.S. alone, the number keeps increasing every day. Not everyone has hundreds of thousands of dollars to invest in real estate and rent it out. However, there […]
As the owner of a property, you must be aware of how important it is to ensure that your investment is managed well. If you don’t keep track of your cash flows or guarantee that you are legally protected as […]
As the owner of a rental property, there are a lot of issues that need to be taken care of relating to the property. Starting from screening the tenant to maintaining the property, you have to look into every aspect […]
Are you on the lookout to purchase a residential rental property? Such a decision needs to be executed being extremely scrupulous of honey potting deals that break bad once you have invested your hard-earned money into them. There are some […]
Against what most math-allergic people might prefer, real estate investment requires a level of math. Thankfully, most of the calculations involved in a typical real estate investment are simple. Moreover, there are also a wide number of advanced tools available […]
Are you losing your key suppliers due to an inadequate tracking system of recording the due dates for payments? Do you find that you are not able to avail the benefits offered by suppliers in terms of discounts offered for […]
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A bank reconciliation process is whereby you compare your business sales and expenses records against your bank’s records. The process verifies your accounting numbers, ensuring the balance on your books reflects those shown on your bank statement. Businesses ought to […]
The amount owed by the business for the credit purchase of any goods or services is termed accounts payable. Accounts payable is vital for any business and a blunder in the accounts payable process can incur huge losses for the […]
Liquid Cash is the backbone of every business enterprise. It is imperative to have a proper rolling of finances to keep a business stable and flourishing at all times. A good accounts receivable system contributes majorly towards business growth as […]
Wouldn’t it be a lot convenient to have a system that simplifies all your transactions? Imagine a rental property accounting system that helps you keep track of all your transactions all throughout the financial year. The system we will consider […]
According to a report by Sage released recently, 67% of the accountants believe that their profession is now more competitive when compared to past years. 83% say that their clientele today has higher expectations from them if we compare to […]
The article focuses on the four aspects of bank reconciliations to help understand the best practices that should be adopted in all organizations. It is imperative that bank reconciliations be a part of your accounting practices. Businesses can follow these […]
We are just a few days away from 2020, and naturally, everyone is curious to understand how the real estate market in the US will turn up in the coming year. With the real estate industry taking up a considerable […]
Commercial leasing of space can be a complicated business. However, every business needs to lease at least one, or usually more kinds of commercial spaces, be it office, retail or warehousing. In spite of being an inseverable part of any […]
How’s my property doing? That the most important question that every property owner needs answers to. From day-to-day issues, financial performance, occupancy rates, marketing strategies to regular maintenance – you need information on every aspect. Sounds scary? Well, you don’t […]
With real estate prices escalating day by day, affordable housing and quality housing is hard to come by. The U.S. Department of Housing and Urban Development or HUD launched the multifamily subsidized housing to ensure that the low to middle […]
Yardi Breeze is a modern age property accounting and management software. Managing real estate portfolios can be a rather tedious and complicated task, but thanks to the IT geniuses at Yardi Breeze, we have managed to integrate an amazing piece […]
One aspect of your business that you can’t afford to neglect is accounting. Fortunately, with the advent of technology and the rise of virtual accounting services, you now have a way to streamline your financial operations and enjoy several benefits. […]
For nearly ten years now, technology has been developing at a rapid speed. New devices, apps, and games have been developed, and social media is now used by the world’s businesses and or brands to promote products and to target […]
Congratulations on starting your startup! Not all great ideas see the light of day, but your dream has turned into a reality. You have the product, the human resources and the marketing skills to ensure that your company takes the […]
With increasing globalization, the real estate industry is rapidly crossing borders and has thus become a global industry. The real estate agents and property managers of today handle much larger portfolios than they used to. This has created a demand […]
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Real estate accounting or real estate property accounting requires strong acumen to process, track, and record the day to day transactions due to revenue recognition being more complex when compared to any other business. Hence, it requires a duly qualified […]
The U.S. Bureau of Labor Statistics (BLS) foresaw projections for Lease Administrators to grow at a faster than average rate of 10% from 2016-2026. Interestingly, Real Estate Sales Agents were projected to experience a 6% rise in jobs in the […]
Using an entity management practices for your business can help you maintain efficiency and seamlessly run your day-to-day business workings. And you can focus more on other important business consideration when you don’t have to worry over minor everyday details. […]
Benefits of outsourcing Accounts Receivables or AR can be explained as the dues from the credit customers or the clients. If you are not receiving your payments on time, then what you need is an efficient system that will help […]
With the tremendous growth of the business structures, the management of these different businesses effectively has also become very complicated. Many corporations create separate entities. In order to achieve business goals, risk management of assets and regular regulatory compliance. The […]
To achieve success in business, we have to not only ensure that our existing customers are retained but also make concerted efforts to expand our horizons to acquire new customers. The bottom line for every business is profits, and we […]
For almost all entities barring a few like financial institutions, revenue is the largest single figure in the financial statements. The figure ascertains an entity’s financial performance and position. While it might be accepted that profit is generally considered the […]
Accounting is a requirement for all companies across industries. Therefore, hiring a in-house accounts personnel is a common practice. However, there is another alternative that most companies fail to consider due to misconceptions and other priorities. Outsourcing accounting tasks is […]
If you are a restaurant owner, or a prospective accountant exploring various career avenues, you may have wondered how restaurant accounting might be different from other forms of accounting. It’s all relative and similarly structured in the full verse of […]
Every business needs to have a revenue target which they need to fulfill within a given time frame. There may be deviations from the path to achieving the objective, but eventually, we can attain the goal if we have a […]
Before you step into the real estate domain and want to find out if you’re getting the best bang for your buck, you need to understand where the market is headed in 2019. According to the US Housing market forecast […]
Understanding lease words and terms help you fully comprehend your lease agreement. Below are some commonly used words and terms in lease agreements and their definitions: Common Lease Terms Base Rent The minimum rent payable by a tenant excluding all […]
Construction industry has a high transaction rate and the transaction amounts are pretty high as well. So it is safe to assume that frauds in construction accounting can lead to big losses. While these losses are not unheard of, it […]
Managing a restaurant business is definitely not the easiest of tasks. There are many things that you need to take care of including managing the kitchen, keeping a track of delivery orders, greeting your customers and the list goes on. […]
Most entrepreneurs start their business with a passion to sell their product or service. Everything else involved in a business comes afterwards. When the firm is in its nascent stage, a company can afford to spend time on its core […]
If you are a prospective or an existing investor in real estate, then you need to understand the evolving trends in the supply chain management as well as residential housing requirements. The age-old trends like homes with backyards as well […]
What Is Forecasting? Forecasting is the practice of using several statistical and accounting methods and techniques to predict the future of various aspects of the company like production, revenue generation, sales and selling price to name a few. This planning […]
Accounts Payable (AP) is the amount of money which a firm is supposed to give a person or a company that provides them with goods or services. Therefore, it is quite significant to manage these accounts smoothly and efficiently, which […]
Managing property especially when you have a rental asset can be quite daunting. It involves scheduling, strategizing and regular visits to the site to check on proper asset management. Rental properties if managed properly generate a steady income. However, just […]
Year-end is a time for reflection. It is the time to look back and redefine your companies vision and goals. But let’s be honest, this is a little difficult to do if your accounts are not in order. Keeping this […]
Owning a property and acquiring the title “landlord” can be quite satisfying as there are numerous financial benefits associated with a property. In fact, rental properties are some of the most significant investments. However, with profits come hurdles. Even the […]
In today’s fast-paced competitive world, businesses must focus on working to ensure that they maximize their revenue, translated as profits! While it is true that there will always be ancillary departments that will aid the revenue-making, growth and expansion of […]
Owners with numerous properties and rental units are often stumped with the burden of managing incomes from them. It becomes a time-consuming and a daunting task to handle the various aspects of property management like handling rental incomes, owner’s funds […]
A businesses accounting method certainly impacts its investment strategy. The right accounting strategy can benefit the business greatly by helping to depict the actual financial condition of the company. Which in turn aids in making insightful business decisions with clearly-devised […]
Leasing is important to businesses as it enables access to assets, aids in getting the requisite financing along with reduction of risks that go with the ownership of assets. The new commercial lease accounting rules have been formulated to create […]
Owning a property can be a great way to earn a regular monthly income. For a landlord, expanding property ownership to a number of locations can increase his monthly income manifold. However, landlords need to keep records of documents, bills, […]
Progress Billing is considered to be one of the most frequently used invoicing methods for long-term contracts. Normally speaking, while making contracts there are always some upfront payments involved, somewhere around 50% of the total project, and the rest paid […]
The process of accounting forms the thrust of every business functioning and is perhaps considered one of the most important finance-related administrative work that a management undertakes. Talking specifically about small and medium businesses, the accounting needs for such businesses […]
![Pros and Cons of Outsourcing Accounting [Infographic]](https://www.outsourcinghubindia.com/wp-content/uploads/2018/09/Pros-Cons-Outsourcing-Accounting.jpg)
According to recent statistics, 37% of businesses spend more than USD 5,000 for the administration of finances and 33% of these firms devote more than 81 hours on finances every year. Whether you run a real estate business, textile firm, […]
Section 8 or Housing Choice Vouchers Program arranges for affordable housing for low-income citizens of the U.S., including the disabled and the elderly. The assistance comes in the form of subsidized monthly rental fee in any apartment located in the […]
There are a number of property accounting software available in the market each with their own merits and demerits. Among all, we found that AppFolio Property Manager definitely has an edge when it comes to the following: – Functionality The […]
In recent years, multiple apartments have been built, holding millions of residents. As a result, there has been a marked escalation in the growth of units. The current growth of portfolios are already impacting the accounting systems, and the future will […]
Property management maintenance involves ensuring proper functionality of the equipment fitted across the property so as to be useful to the end-user for a longer period of time. The responsibility for this is delegated to the maintenance team. The maintenance […]
Being a small business owner isn’t easy. You have to manage everything on your own. From marketing to customer relationship and things such as accounting, management etc. A business depends a lot on its finances, and you can’t manage finances […]
How is the success or failure of a business judged? Profits. There are two main factors that affect the profits of a company the money that comes in and the money that goes out. Accounts Payable deals with the second […]
Accounting outsourcing is a trend that is on the verge of seeing a great transition. With available resources and advancement in technology, this sector will experience high demand in coming years. The outsourcing industry has seen a rise from 76.9 […]
The Financial Accounting Standards Board and the International Accounting Standards Board issued new accounting standards in 2016. The new standards that are set to take effect in January 2019 redefine how organizations will recognize lease liabilities and assets on balance […]
Cloud Computing has been revolutionizing every industry, and the real estate sector is no exception. Cloud services can be used for marketing, property management and customer relationship management. By storing all the customer data in the cloud, it can be […]
Handling and optimizing accounts payables (AP) is barely considered a core business function. Unfortunately, most real estate businesses focus more on marketing strategies and making sales than managing accounts payable properly. However, poor management of the process can ruin a […]
The business process outsourcing (BPO) industry came into existence by the end of the last century, but adoption picked up pace around a decade later with the explosion of the internet globally pushing its progress. The first generation of BPO’s […]
With an overall increase of 6.5 percent in U.S. housing stock in 2017 alone, the last couple of years have been robust for real estate market of USA. Keeping up with the trend, real estate developers and firms are leaving […]
Managing the accounting activities of your business seems a tiresome task but it is still an important one. You can’t turn a blind eye to your financial activities as these are required to run your business efficiently. However, we not […]
The U.S. Department of Housing and Urban Development (HUD) is a government agency, established in 1965 to support the development of communities and ownership of a home. Through its housing programs, HUD provides affordable opportunities for home ownership, increases rental […]
![Job Duties and Educational Requirements of a Property Accountant [Infographic]](https://www.outsourcinghubindia.com/wp-content/uploads/2018/05/Property-Accountant-Job-Duties-Skills-Educational-Requirements.jpg)
People find accounting to be a really stressful job. Guess what? It really is! Accounting has to be done carefully – be it property accounting or accounting for a business firm, even if it seems like a mundane task. A […]
What is a controller in real estate? An Assistant Controller is a position that is typically filled by a qualified accountant or auditor who assists the controller in carrying out their duties. Assistant Controller or property management controller is responsible […]
You need a property accountant in the finance department if you are working in real estate sector. When it comes to a senior property accountant, they need to have significant experience and formal education as they have to take care […]
Reducing the cost of operations and acquiring better talent at the same time is the aim of every company. Outsourcing has garnered fame precisely for this reason. It gives companies access to cheaper but more talented workforce. However, the accounting […]
Accounting is one of the most outsourced business functions, especially among start-ups. Businesses outsource accounting functions with the aim of getting accurate and well-formatted financial reporting at the least effort and cost possible. Outsourcing accounting processes entail hiring an independent […]
Many businesses, organizations and startups find it hard to manage their accounting such as preparing financial statements, analyzing data, preparing invoices and managing bank accounts. Even after hiring a dedicated professional, various factors come in the way of efficient execution. […]
Yardi Genesis 2 is a web-based property accounting software that has been designed for small and medium-sized properties. Yardi Genesis 2 is designed for all real estate management including residential, commercial, condos, homeowner associations, self-storage, offices, retail and other type […]
Accounting for real estate business is altogether different than accounting for any other business because it requires complicated entries in the accounting ledgers. It is simply not a convolution of credit and debit transactions but perhaps more than that. In […]
Real Estate Accounting embraces or covers the accounting rules for any kind of real estate transactions that can be used to structure real estate deals appropriately. Real estate firms need to fully understand their current financial accounting, regulatory and compliance […]
Handling real estate accounting across the spectrum is a demanding task, so it’s no surprise that real estate budgeting can also get quite complicated. Whether it’s asset management or corporate functions, the inner workings of a real estate company throw […]
Common Area Maintenance (CAM) reconciliations can prove to be nerve-straining for you as property owner or manager if done erratically. We know how real estate accounting can turn out to be a tricky task if not religiously done on time. To […]
An original Commercial lease is a legal document covering all the financial and non-financial details of a business or a property. And since it is a legal document and used for several purposes. Therefore, commercial leases have to capture every […]
The conventional approaches to using commercial financial reporting can be unreliable in terms of security. Multiple copies of the same file can be expensive to store and can interfere with backup systems. This is when people started looking for alternatives […]
Financial Reports /Real Estate Reports are also known as Financial Statements and can be defined as the formal record of the financial activities of a business entity or a firm. Financial statements are also the records of an individual involved […]
The base of your solid property accounting business depends mainly upon two major factors namely, your property management bookkeeping practices as well as the growth of your workforce. In a regular business routine, borrowing money and/or assets are a part […]
Xero has been awarded by Forbes twice as “World’s Most Innovative Growth Company” in 2014 and 2015. Currently, about 1 Million users choose Xero for their small business accounting. Xero is built on a double-entry framework, to let you track […]
Accounting outsourcing has emerged as one of the most rapidly growing outsourcing sectors with cost reduction as its main driver. However, finding an outsourcing partner who really understands the needs of your accounting firm and allows you to have a […]
Every real-estate project has a multitude of aspects and it can all get out of your hands quickly. For example, a real estate company can deploy a dashboard to display the daily progress of all of its under-construction projects. Any […]
A highly effective business dashboard keeps track of key performance indicators with business intelligence reporting features. Real estate dashboards are highly efficient and contribute to better business outcomes. These dashboards also deliver ease in work execution for internal employees as […]
Business intelligence dashboard is used to keep track of KPIs, key data points, and much more. Dashboard reporting offers a quick glance at the current performance of the particular task. Well defined dashboards are perfect to manage big data. Dashboards […]
Accounting practices can be defined as financial activities of organizations or companies recorded on a daily basis. In case of real estate firm, real estate accounting practices involve the implementation of accounting policies concerned with a real estate firm involving […]
Running a real estate is no cakewalk. There are a number of challenges that a real estate enterprise has to face from time to time whether in managing clients or handling rents, a real estate agent has to keep himself […]
Are you working in a property management service? It is certainly a tough job since it is your responsibility to solve all tenant complaints regarding the house. Handling tenant complaints in a right way are important since it helps you […]
Renting out a property is helpful in earning money on your property. It is also beneficial when it comes to the maintenance and safety of the place. It is only when you face legal issues, tenant problems, etc., that you […]
There are numerous pointers to take care of while moving out or into a new property. The sheer stress involved in the process might make you miss out on important checks. Hence, it is always advisable to get some external […]
Real Estate Accounting – Why Outsourcing In the present business scenario, cost-cutting is being given due emphasis by companies or firms globally. Real estate industry not an exception in this regard. Real estate accounting as such is a specialized task […]
If you’re a small business, and have not already, accounting software can make your life much easier, it’s much simpler to manage your books and accounts through the accounting software. In the past, accounting software was complicated and hard to […]
As an industry sector, the real estate is greatly exposed to market fluctuations. Therefore, it is vital for companies working within the industry to maintain a high level of productivity while also look for a better cost efficient solution. Outsourcing […]
Remote access software often called remote desktop software or remote control software, allows you to have access to a computer from another computer or mobile. There are multiple reasons why you may need remote PC access software. Deadlines are close […]
Given the current circumstances, a lot of emphasis is given to cost cutting in the business world. The real estate industry is no exception, given the competitiveness of the industry it is important for real estate businesses to cut cost […]
What is Work order Management? In a nutshell, work order management is all about keeping track of all the work orders received and people managing it, the processes and maintenance technicians working on it. The maintenance work order software increases […]
Every outsourcing arrangement should be equipped with technology that ensures data security to maintain confidentiality of client information and other details. Thorough standardized procedures that are enforced to regulate data security within the enterprise can transform any business. Securing the […]
Specialization has become the norm of the present times. These days when it comes to the challenging business environment, specialization not only leads to effective functioning of the business but also cuts down on costs. This is the reason why […]
The e-commerce industry has transformed the competition when it comes to growth. Today, more and more consumers are moving online as they are now gaining access to levels of ease and transparency far ahead of what long-established retail set-ups can […]
Accounting outsourcing is not new and over the years businesses have realized the importance of outsourcing. Outsourcing provides a cost-effective solution and saves time and resources – the major assets any property management company can have, whether you are a […]
Early days in a new business are difficult. In order to succeed and grow the business it is important that the primary as well as the supporting activities of business is taken good care of. There are numeral piece that […]
Bookkeeping is coined by two words ‘Book’ and ‘Keeping’ where ‘Book’ means the set of financial transaction and ‘Keeping’ means preservation. So bookkeeping means the process of maintaining financial transaction. Sales, purchase, earnings and payments are all carefully documented so […]
Managing a small business has the propensity to ensure responsibilities such as daily operations and customer satisfaction. Between these demands, keeping the financial records properly and maintaining tax compliance is two tasks that easily get overwhelmed. Accounting outsourcing can help […]
Outsourcing finance and accounting functions has become a reliable solution for businesses seeking to streamline operations, reduce costs, and access expert support. By delegating non-core financial tasks to specialized service providers, companies can focus on strategic growth while ensuring accuracy […]
Introduction to 1031 Exchanges Section 1031 of the IRS Code, commonly known as “1031 Exchanges,” forms the basis for tax-deferred exchanges. It allows taxpayers to defer paying income taxes on the sale of property if the proceeds are reinvested in […]
To effectively execute all jobs like lease administration and financial reporting in commercial property management, choosing the right software is crucial. This comparative study examines the functionalities, advantages, and disadvantages of four leading commercial property management software solutions: Yardi Voyager, […]
Month end close is an important process for any finance team because it marks the end of collecting and reconciling financial data in a manner that provides clear insight into a company’s financial health. For many businesses, though, this process […]
The high-paced nature of construction, with numerous projects, stakeholders, changing regulations, and continuous cash flow fluctuations, makes managing finances highly complex. Traditional accounting processes are not equipped to handle these challenges efficiently. Manual methods lead to inefficiencies, errors, and missed […]
The accounts payable department is always seen as a cost center because it primarily deals with money flowing out of the firm, paying for goods and services. That being said, your accounts payable can become a profit center that brings […]
