| moises | email | Feb 13 2015, 12:30 PM |
| can i manage all my properties and do my banking using this software? | |
| Stephane Grenier | email | Feb 16 2015, 01:08 PM |
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Hi , The software doesn't offer bank reconciliation (online banking is included as part of bank reconciliation). As far as we know, there is no professional property management software that will offer this in our price range. Any professional property management software solutions that offer bank reconciliation quickly escalates in price to the thousand dollar plus price range. Bank reconciliation is very expensive and complex to implement and build, therefore it quickly increases the price of the software solution. By not offering this we can keep the solution much much more affordable for you. In many cases bank reconciliation doesn't really offer you much of an advantage, if any at all! The problem is that all the data still needs to be edited and linked. So for example, although you may have a line from your bank for $20, you still need to tell the software for what building, tenant, etc. that line item is for. You also need to include a description of the line item, and all the remaining information. All you really save entering is the amount and the date, the rest still needs to be inputted. You actually get a much better benefit from using the Scheduled Entries than from bank reconciliation. That being said, there is only one single solution anywhere near our price range that will offer bank reconciliation but they are a personal finance software solution with some property management features added on rather than a dedication professional property management software solution (for example they can only handle one property owner, offer a lot less property management functionality, and so n). If you are considering this solution we also recommend you read their reviews on Amazon and so on before making your decision. Outside of that you're going to be looking at online/subscription/cloud based solutions, and these will cost dramatically more than the LandlordMax Desktop Edition, not to mention the potentially much higher risks: http://www.followsteph.com/2012/04/19/what-are-the-risks-of-cloud-services/ With all that in mind what we recommend is using a software to manage your properties and doing your online banking separately. In any case most solutions will only offer bank reconciliation, we don't know of any that actually offer online banking as well beyond the very most basic of options. Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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