Property Management companies or Real Estate Investment Trusts (REITs) all face similar challenges. There are common needs in the industry for consolidating reports; integrating data from property management systems; generating recurring invoices; and apportioning central costs across the group. AccountsIQ’s consolidation module in our property management accounting software allows you to create a separate Chart of Accounts for each of your properties or Special Purpose Vehicles (SPVs) / Special Purpose Entities (SPEs). You can then create a continuous consolidation process which allows you to centrally view performance across the portfolio as well as drill down to look closely at the activity within one entity.
With AccountsIQ, you can also bring in the central costs from Group HQ. The software allows you to allocate and apportion those central costs across different properties using inter-company transactions. Whether your properties are apartment blocks, offices or shopping malls, AccountsIQ will make it easier for you to manage and report on multiple revenues from one property. The system will automatically generate recurring invoices and it has already been successfully integrated with property management systems such as Landmark, saving precious data entry time and reducing error.
We manage all our properties, debentures and flows as separate entities in AccountsIQ. The nightmare that once was consolidations is now a breeze with AccountsIQ. Our property portfolio and loan book is growing and the accounting infrastructure we have created allows me to focus on future business.