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Real Estate Accounting Software


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Multiview logo
 
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
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For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
 
NetSuite logo
 
NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
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NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
 
Sage Live logo
 
Sage Live is a cloud-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a cloud-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
 
Sage Intacct logo
 
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
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Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
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Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More

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SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
 
Sage Fixed Assets logo
 
Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
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Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
 
FinancialForce Financial Management logo
 
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
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FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
 
SBS Financials logo
 
SBS Financials is cloud-based software designed for multi-entity accounting. The system is flexible and adapts to an organization’s existing workflows. SBS Payroll/HR and SBS Procurement can be added to create an integrated financial... Read More
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SBS Financials is cloud-based software designed for multi-entity accounting. The system is flexible and adapts to an organization’s existing workflows. SBS Payroll/HR and SBS Procurement can be added to create an integrated financial... Read More
 
Oracle JD Edwards logo
 
JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
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JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More

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Infor CloudSuite™ Financials & Supply Management logo
 
Infor CloudSuite Financials & Supply Management is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the... Read More
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Infor CloudSuite Financials & Supply Management is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the... Read More
 
EBizCharge logo
 
EBizCharge offers a full suite of payment processing, billing, and invoicing solutions including payment integrations to accounting/ERP/CRM/ and eCommerce platforms, mobile solutions, virtual terminal, POS solutions, and an online... Read More
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EBizCharge offers a full suite of payment processing, billing, and invoicing solutions including payment integrations to accounting/ERP/CRM/ and eCommerce platforms, mobile solutions, virtual terminal, POS solutions, and an online... Read More
 
Exact Globe Next logo
 
Exact Globe Next is an end-to-end business management solution. It offers accounting, inventory management, billing and invoicing, financial reporting, and more. This ERP system can be deployed either on-premise on a local server,... Read More
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Exact Globe Next is an end-to-end business management solution. It offers accounting, inventory management, billing and invoicing, financial reporting, and more. This ERP system can be deployed either on-premise on a local server,... Read More
 
Infor SunSystems logo
 
Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
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Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
 
Sage 300 Construction and Real Estate (formerly Sage Timberline Office) logo
 
Sage 300 Construction and Real Estate, formerly Sage Timberline Office, is part of Sage’s line of construction and real estate solutions. Sage 300 Construction and Real Estate is a construction management system that offers functionality... Read More
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Sage 300 Construction and Real Estate, formerly Sage Timberline Office, is part of Sage’s line of construction and real estate solutions. Sage 300 Construction and Real Estate is a construction management system that offers functionality... Read More

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Sage 300 ERP (formerly Sage ERP Accpac) logo
 
Sage 300 ERP (formerly Sage ERP Accpac) is an enterprise resource planning (ERP) software system that serves small and medium-size businesses in professional services, financial services, public sector, and other markets such as distribution... Read More
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Sage 300 ERP (formerly Sage ERP Accpac) is an enterprise resource planning (ERP) software system that serves small and medium-size businesses in professional services, financial services, public sector, and other markets such as distribution... Read More
 
Accounting Xpert logo
 
Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank reconciliation... Read More
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Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank reconciliation... Read More
 
Quickbooks Pro logo
 
QuickBooks Pro is a comprehensive accounting solution designed to cater small and midsize customers. The solution offers robust functionalities of a core accounting software application, including account payable & receivable, project... Read More
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QuickBooks Pro is a comprehensive accounting solution designed to cater small and midsize customers. The solution offers robust functionalities of a core accounting software application, including account payable & receivable, project... Read More
 
Zoho Books logo
 
Zoho Books is a Web-based accounting solution suitable for small organizations. It features contact management, invoices, expenses, sales and purchase orders, project time tracking and inventory management. Zoho Books also comes with... Read More
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Zoho Books is a Web-based accounting solution suitable for small organizations. It features contact management, invoices, expenses, sales and purchase orders, project time tracking and inventory management. Zoho Books also comes with... Read More
 
Wave logo
 
Wave is a web-based integrated accounting solution exclusively designed for small organizations. Collectively, the solution features accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts. With... Read More
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Wave is a web-based integrated accounting solution exclusively designed for small organizations. Collectively, the solution features accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts. With... Read More

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Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: August 9, 2017


The real estate industry is in many ways not very different from other sales/commission-based businesses. A real estate agent’s work and performance are highly-monitored to pinpoint efficiencies and potential inefficiencies that can be improved upon. Likewise, real estate agents are awarded commission for their success just like inside/outside sales associates.

Real estate accounting software is the driver that enables the performance monitoring, performance data analysis, and reporting and dashboards. In addition to traditional accounting software features, these systems offer new easy-to-use efficiencies for closing real estate sales, logging the sale info in a database for future analysis, and calculating and distributing commission.

We’ve put together this buyer’s view to highlight the features and trends you need to keep in mind when evaluating new accounting software for your real estate business.

Here's what we'll cover:

What Is Real Estate Accounting Software?
Common Features of Real Estate Accounting Software
Benefits and Potential Issues
Evaluating Real Estate Accounting Software

What Is Real Estate Accounting Software?

Specifics for the real estate industry aside, general accounting software offers various applications and features for monitoring and managing financial happenings within an organization. At its most basic offering, accounting software should typically include the following capabilities:

  • Bookkeeping/general ledger
  • Accounts receivable and payable
  • Payroll and commissions
  • Bank reconciliation
  • Reporting and analytics

These are common features found throughout most all accounting software. They enable users to more easily and accurately review, monitor, and predict costs and expenditures of the organization at large as well as individual business units and even employees.

Real estate accounting software offers these same capabilities, but it has more specific features and benefits tied to the housing industry. For example, with accounting software for realtors, it’s easy to securely share key business information with realtors, home owners, and other interested parties wanting information about their investments.

In addition to a robust set of features and functionality, real estate finance software helps you monitor the progress of ongoing development projects and property maintenance. Financial information can be grouped by property, development or unit. These back office capabilities are a key value-add for the various real estate accounting software vendors.

Common Features of Real Estate Accounting Software

In addition to core capabilities of traditional accounting software, these real estate-specific systems typically include the following features:

Communication and contract tools Automatically generate and customize templates for contracts and communications with buyers, sellers, other agents, investors, banks, brokers, title companies and other invested parties.
Real estate property development management Monitor on the progress of all new development projects, residential and commercial, as well as property renovations for individual homes. Enables real estate managers to project upcoming capital from sales for new developments.
Mobile access Ensures that you can get access from anywhere. Some real estate accounting systems include an accompanying app for iOS and Android while others are simply compatible with mobile browsers.
Commission calculation Helps you easily and automatically calculate agent commissions and fees. Can also monitor annual commission generated by individual agents for salary capping, extended pay outs etc.
Work order management Uses your system to monitor the status of property repairs and upgrades. Tracks time, materials, and other resources accordingly to gauge overall cost of each work order.

Benefits and Potential Issues

The primary benefits of adopting a financial management systems for your real estate business are crystal clear. These accounting systems offer better visibility around where your money comes from and where your money goes. This transparency into your costs and expenditures leads to more informed, financially responsible decision-making.

In addition, systems can generate a plethora of easily understood reports in a variety of ways to summarize this information cleanly for the right audience. Many systems also offer actionable dashboards that provide even greater ease for understanding the key takeaways from data analysis.

While the benefits of real estate accounting systems are widely apparent, there are a number of issues that should be considered as well. Many real estate accounting and financial software include most of the back office capabilities previously described, but not all systems do. Those that don’t will need to integrate with existing customer relationship management or other relevant software.

Another potential issue you’ll want to keep in mind when selecting your accounting software is scalability. Where do you see your real estate company in 2 years? 5 years? If you are projecting a lot of growth for your organization, you’ll want an accounting system that can scale with you. In other words, you’re accounting system should easily add information on properties and offer a quick way to look up existing and previously sold property data. The same is true for a database of employees/agents, contractors, home buyers, and other invested parties. You’ll want to easily access and draw references from these databases for future use.

Evaluating Real Estate Accounting Software

With all these features and benefits and potential issue associated with real estate accounting programs, it’s crucial that you all the right questions when evaluating your new system. Putting in the extra time is definitely worth it. Finding a great system can streamline many of the essential day-to-day tasks, which frees up extra time to spend with current or prospective home buyers or for other strategic work. Having more time to focus on customers will serve to help improve the quality of service and customer experience you provide home buyers. This goes a long way in retaining customers and gaining referral business from customers’ friends and family.

The system can automatically send email notifications to agents, calculate commissions, and generate listing forms and welcome letters. Well-organized solutions can also record and sort all transaction information for a given contract.

When evaluating these systems, buyers should consider the following:

  • Does it need to be able to support several different agent pay rates?
  • Does the user need a system that can handle a high variety of properties?
  • Should the program include online communication tools?
  • Does the user handle many different transactions on a regular basis?

Free Download:
Accounting Software Pricing Guide

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How to Assess Accounting Software Vendors' Viability

 

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