Archive | May, 2018

A Deep Dive into Outsourced Real Estate Accounting – Accounts Payable Process Snapshot

Client Type Multi-family Residential Accounting Software Yardi Voyager Accounting System AP is being performed in Yardi PAYscan environment with pre-set work-f-lows governing the movement of invoices across operations and accounting. The invoices are scanned into PAYscan manager by Yardi. Purchase orders are also created in Voyager by the site managers. Weekly Check-runs are being run […]

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A Deep Dive into Outsourced Real Estate Accounting – Accounts Receivable Process Snapshot

Client Type Multi-family Residential with Section 8 Rent Tenants Accounting Software Yardi (Genesis) Accounting System Leases maintained in Yardi, Move-Ins and Move-Outs happen through the month and Yardi CheckScan used for receiving tenant payments. Key Activities Done Move-Ins (Set-up of leases), Move-outs, Security Deposit Refunds, Monthly Rent Run, Late Fees, Rent Receipting across different payment […]

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What is a Rent Roll?

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 asset on rent for a residential or commercial purpose. Obviously, the target is to get rent at the end of the month. They often create and manage rent role that […]

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Accounting Tasks That Should be Done on a Weekly Basis

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 only ignore accounting activities but also delay some tasks because we think it is going […]

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An Introduction to HUD Programs for Multifamily Housing

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 options that are safe and affordable, reduces the homelessness, and ensures equal housing opportunity to […]

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Job Duties and Educational Requirements of a Property Accountant

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 person well-versed in accounting is well-off in handling this job. A Property Accountant is a […]

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Job Duties of an Assistant Controller in a Real Estate Firm

The main responsibility of an assistant controller appointed in the finance department of a real estate firm is helping the controller with various accounting tasks. They work under the supervision of a financial controller and should possess a set of strong analytical, technology, communication, and organizational skills. A relevant accounting or finance educational background is […]

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Job Duties and Educational Requirements of a Senior Property Accountant

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 of the financial aspects of commercial, industrial as well as residential properties. Job Duties of […]

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