Accounts Payable for Real Estate
The real estate business is full of risk. Many investors investing money in real estate property do not really have depth knowledge about the real estate functions. The real estate owners are the busiest person on the planet. In order to make the customer know about the real estate business, the entrepreneur has to keep all the property record carefully.
Real Estate Industry has picked up the growth in the recent quarters. With a slew of funds and projects taking off, Real Estate is seeing a churn in transactions. Real Estate involves managing the scheduled payments, one-time payments, pass-through payments, payment adjustments, accounts payable, and accounts receivable. With lot of accounts in the portfolio, it makes sense to involve the aid of an outside parties to help with the accounts payable activities.
Why Account Payable Services?
- Bringing efficiency
- Plugging leaks in the form of frauds
- Auditing becomes easier
- Profitability is now easier
- Reducing the incurring expense
The core factor of the real estate industry is price fluctuation. There is much professional help like real estate brokers, who have all the knowledge to help you in purchasing and buying real estate properties. The real estate owners hire brokers for executing their estate trading deals. These brokers work for a consideration called commission.
Commissions paid to these brokers and agents are the overhead expenses for the estate business. Apart from that, he has to keep a separate account of individual parties. Thus it is very significant and tiresome task to keep all the records separately.
Maintaining all the individual customer records and managing the account payable takes much time. It needs the optimum level of accuracy which usually cannot be done by the business owner.
Now it is the great opportunity for the entire real estate owner. No need to keep the day to day accounting records and tedious bookkeeping job. We the Outsourced Bookkeeping is there to take your business responsibility. Recently we started serving real estate business sector operating in the US.
Let’s look at some of the key functions Outsourced Bookkeeping Account payable services undertake:
- Maintain working capital and cash flow
- develop and maintain strong vendor relationships
- Locate new zones of potential cost saving
- Affirmative organizational agility
- Compliance is undertaken with ease
Outsourced Bookkeeping works around the clock with big Real Estate firms to create and chart a new growth strategy.
People investigate much before investing in real estate. So the real estate owner has to give time and resource to convince the prospect clients. They need all the statistics and past records to make them understand about the deal. So keeping a proper record is very much essential. We are the right person who can help you in this respect.
Real Estate Industry is filled up with regulations and compliances and top of that the account transactions create more complications. Dealing with Account payable services is now an easy task with the help of Outsourced Bookkeeping. Account Payable Processes are the surest way to create a balance financial world for the Real estate.
That is the reason many Real Estate companies are now outsourcing account payable services.
The real question which is at the forefront of every real estate company is how to leverage more efficiency from the Account payable services.
Trends in the world of Account Payable Services:
- Improving processes
- Eliminating paper
- Increasing cloud adoption
Do not hesitate to take our best professional real estate bookkeeping help to enable your business to grow in a quick span of time. The business owner in the real estate business needs to maintain a good public relation and business reputation. This helps them to gain the business objective.
We the Outsourced Bookkeeping are very much customer oriented. The best part is that you will get the entire real estate account payable services under one umbrella.
Hiring us, you will get the best value for your money. Our professional service enables you to boost your customer relationship by maintaining your accounts and financial activities. Below are the Real estate Account Payable Services provided by Outsourced Bookkeeping team:
- Keeping records of all real estate trade transactions.
- Provide Accounts payable service and general ledger accounting services for an individual customer.
- Making of the real estate income statement to ascertain the profit earned.
- Preparation of balance sheet to know the financial position of the organization.
- Better management of Tenant Accounting activities
- Deals with late fees, renewal, expansion, and termination of the lease agreement.
- Generate property reports according to US GAAP.
- Meet the terms of the US trade regulation in regard to calculation of real estate insurance, taxes, and depreciation.
- Preparation of financial analysis and investor-related reporting,
- You will get a ready Cash flow statement for your account.
- We do your trade valuation as per USA & Canada real estate regulations.
We follow an optimum level of perfection and accuracy while dealing with your accounts. Our pool of accountants can handle your business finances and account payables in a better way. Hire us today without a second thought. Our expert service will definitely help you to get your business objective in a limited period of time.
We the Outsourced Bookkeeping can free you from the irritating record keeping task. Thus you can get a free time to think about the core of your business in the path of success. There a huge competition in the real estate market. So the businessman should concentrate on the other most important area of the business than to get involved in a routine business task.
So no matter whether you want to purchase or sell a property, the investors always go to a good Real estate agent. You need to be ready with all your evidence to convince the prospect. You should have depth knowledge of the real market value of your property. Along with that, you should have proper ideas about the marketing & advertising plans. Most importantly you should have knowledge about presenting your property for sale.
This entire task starting right from answering the query of the potential customer to the real sale takes lots of effort. The future investors prefer to meet the property agent personally to check his skills and understandings regarding the matter. Finally, they negotiate the best price for the property deal.
Investors keen on investing in different financial assets ask a lot of queries and it is obligatory in the part of the business owner to resolve all the queries and doubts. Proper knowledge about the financial instrument and the risk associated with that particular kind of asset class should be considered.
For a real estate property owner, the most important thing is to manage the portfolio risk so as to get the best benefit of the amount invested in the property.
If the real estate entrepreneur gets distracted by involving them in routine accounting and bookkeeping task the core business activity will get hampered. This is the main hindrance to any business. So it is more important to focus on the core of the business than to recording the accounting information and separate customer account. These are the tedious work which needs most accuracy, time and patience.
Take a quick look at the world of accounts payable services done by outsourced bookkeeping and understand the relevance in Real Estate world.
- Daily process of the transactions and bills
- Monitor payment done in lieu of outstanding bills
- Track and Monitor any cash flows
- Transaction processing through innovative, automated and customizable tools for invoice processing, online payment and receipt processing, and vendor maintenance.
Delegate the responsibility to us. We have a pool of smart professional to take care of all your worries. Thus you will get expert timely services which enable you in brand building activity. Real estate business highly depends on public contacts and good interpersonal relationship. We suggest you concentrate on managing the portfolio risk, market risk, influencing factors, price discrimination and expected return.
To grow on a larger scale, one needs to move in with times and adapt to the ever changing global financial world. Real Estate industry is bound to increase at a breakneck speed. Real estate developers, property managers and construction contractors need to cut costs in a business climate marked by moderate growth, increased financial risk and stringent regulations. Besides streamlining processes for higher efficiencies, they also face the need to implement new methodologies and accounts payable services.
We have worked on different software Propertyware , MAS90 (Sage) , Restaurant 365 (R365), Greatplains besides QuickBooks.