It gets tough and time-consuming to manage the finances of a property management firm. As the company grows, its portfolio expands. Keeping with it becomes troublesome, especially when you don’t have powerful software and a team to manage it.
When looking for streamlining financial management of a company, using a powerful tool like Rent Manager can benefit your business. So, what is Rent Manager? If you are using it, then you must know how this tool can help you streamline accounting for you. Rent Manager is basically a comprehensive property management software that helps landlords and property managers to proficiently manage their properties. Many struggle to understand how to use Rent Manager for bookkeeping efficiently:
It offers different features, including:
- Financial Management: When it comes to managing finances, optimizing Rent Manager bookkeeping can be a game-changer. It allows the user to track all types of income and expenses. This also helps in managing accounts payable and receivable. You can also generate a detailed financial report with the help of this software.
- Tenant Management: If you are dealing with multiple tenants, then this tool is useful for you. You can manage different information related to tenants, including payment, lease agreements, communication records, etc.
- Maintenance Management: With the help of this tool, users can create maintenance requests. You can track the work orders, connect with the team, and get the property maintained again.
- Online Payments: Rent Manager enables the tenant to pay their rent online. This way, delays in payment can be eradicated.
- Custom Reporting: The software offers customizable reporting options that provide the property managers with the latest insights, helping them to make informed decisions.
- Marketing and leasing tools: Rent Manager also features other tools that can help in managing finances and the company efficiently.
These were some of the common structures of the software. However, Rent Manager is not restricted to only these. There are many unique and interesting features that make this software one of the best. However, you need to have the top skills or the right team to use this software to its best. Partnering with companies like Outsourced Bookkeeping can help you connect with personnel who are savvy about this platform. With their help, you can make the best use of Rent Manager. Unique features of Rent Manager:
- Automated Bank Reconciliation: With features like Bank sync and smart bills, you can seamlessly sync and reconcile your bank accounts. You can also eliminate the hassle of making each and every entry manually, and also automate invoice entry in Rent Manager. This helps in saving time and reducing errors.
- Report writer: Every business is unique, and so are the reports. With features like this, you can produce flexible and feature-rich reports that are unique to your business. You can have complete control over your reports. From automated data entry to history tracking, from audit trail to tax forms, you can generate an accurate report every time.
- AP Automation: With Rent Manager, you can integrate AP automation. You can automate invoice entry and approval workflows easily. With AI-assisted technology, record-keeping becomes hassle-free.
- Recurring Transactions: Another great way to utilize this platform is to set up recurring journal entries. You can set up monthly management fees, depreciation entries, etc., so that you don’t have to remember them every time while entering in the record.
- Rent Manager Alerts and Audit Tools: Moreover, you can find some interesting tools to manage alerts and audits. This helps in managing everything and avoiding any delays. With financial diagnostics tools, it becomes relaxed to fix any irregularities.
If you struggle in using Rent Manager, then you can check out this link for requesting a free demo associated to onboarding. There are online training and certification courses to help you ace this software. However, if your in-house team is not Rent Manager savvy, then it is best to hire professionals who can handle it for you. You can make your work easy by utilizing Rent Manager in the best possible way. They can also offer different Rent Manager accounting tips.
Rent Manager, being a complex software with a wide range of features, can be difficult to use to its full potential. One needs to be knowledgeable with the software to use all its functionalities. The features like customizing settings, report generation, etc., are stimulating for users without any experience. Moreover, managing financial data accurately is important in such software. Professionals can help set up an accurate procedure, ensuring reliable record-keeping, and also provide Rent Manager AP automation guidelines.
Training staff to use Rent Manager can take a lot of time. By partnering with professionals, the property management companies can save you time and resources. Professional assistance can offer you training for employees, ensuring they comprehend how to navigate the software proficiently.
Final Thoughts
Adopting a new software system can be overwhelming. Professionals can simplify the transition and help manage a smoother adaptation. Partnering with the professionals from Outsourced Bookkeeping can help you systemize everything. They are already adept with the features and help you utilize Rent Manager bookkeeping best practices to the fullest.
