| Terry Barone | email | Oct 6 2014, 01:40 PM |
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I manage properties for investors. Some of these properties need rehab and the owners must add money to have the work done. Also some investors/property owners want to receive a check every month or quarter beyond the required balance I maintain for the account. How is this reflected? |
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| Stephane Grenier | email | Oct 6 2014, 03:09 PM |
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Hi Terry, The software offers a cash based accounting system, which means that all reports are generated based on the Accounting Entries data. In other words revenues minus expenses gives you your total. Therefore in your case what you'd need to do is generate the relevant accounting reports (for example Accounting Entries for a landlord) and whatever the total of the report is will be what they owe you or what you can pay them. The alternative to this would require what is called a ledger based accounting system which basically means that every landlord is assigned a ledger and balances are kept within the ledgers. That being said ledger based property management systems start at 5-20x the price of our Desktop Edition, and generally cost a lot more after you add the monthly/yearly subscription fees in addition to everything else. Also in most cases these will be a lot more complex to operate on a day to day basis. Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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