Best Practices to Optimize your AP Process

Handling and managing 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 businesses’ relationship with vendors and limit its access to credit facilities. So, what are the […]

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Finance and Accounting Outsourcing: 5 Motivations Beyond Cost Cutting and Delivery

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 were focused on reducing costs and ensuring smooth delivery timelines for their off-shore business partners. […]

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Top 5 Outsourcing Risks and How to Avoid Them

Outsourcing is soon catching business trends. Small and medium 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 efficient gains from a healthy and long-lasting competitive advantage. Right from outsourcing accounting to marketing tasks, enterprises are making […]

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What Should a Good Real Estate Dashboard Cover?

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 no stone unturned to completely revamp their management systems either through ongoing tracking of portfolio […]

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Yardi Systems – An Overview

Yardi Systems is a leading provider of high-performance software solutions for real estate sector essentially in real estate accounting and property management accounting/property accounting. Yardi Products – Types Yardi’s Systems Inc has grown as a Multinational Corporation in the field of property management accounting software services with its flagship products that include – Voyager Genesis […]

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A Deep Dive into Outsourced Real Estate Accounting – Month End Closing Process Snapshot

Client Type Multi-family Residential/Student Housing Accounting Software Yardi (Genesis and Voyager), Appfolio, MRI Accounting System Accrual Based Accounting with PO based AP System. AP processed at site level with utilities being processed at OHI end. The same process with some minor changes would be valid if AP is also processed at OHI end. Move-Ins and […]

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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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