About Budgetrac Real Estate Development Accounting

Budgetrac is a cloud-based, comprehensive construction and real estate development solution specifically for real estate developers. Budgetrac is designed for small- to large-scale development projects and portfolios. Key features include project pro forma budgets, operational budgets, predevelopment costs, final funding, project control and financial reporting.

Budgetrac enables users to automate multiple budget iterations and commitments tracking. at any point in the project’s life cycle, users can generate real-time reports on budgets, commitments, costs and cost at completion.

Budgetrac’s loan draw feature enables users to control all aspects of the funding process, including loan draws, capital contributions and equity tracking. Users...


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Supported Operating System(s):

Windows 7, Windows Vista, Windows XP, Web browser (OS agnostic), Windows 2000

21 Reviews of Budgetrac Real Estate Development Accounting

Average User Ratings

Overall

3.95 / 5 stars

Ease-of-use

3.5

Value for money

4.0

Customer support

4.0

Functionality

4.0

Ratings Snapshot

5 stars

(8)

8

4 stars

(8)

8

3 stars

(3)

3

2 stars

(0)

0

1 stars

(2)

2

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 21 results

July 2017

Mindy from Fuqua Development

Company Size: 11-50 employees

Industry: Real Estate

Time Used: More than 2 years


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

July 2017

Mixed Use Real estate developer

Customer service is a big plus. I like that it is specifically geared towards our business. Existing reports are comprehensive and usually will cover any needs, but you also have the ability to create custom reports.

Pros

Very good for loan draws which is important as a developer. Very easy to separate development budgets into multiple phases, or consolidate, as preferred by lender, partner, owners, etc. Most software marketed to real estate is intended for builders and is overly complicated. This programs gives us what we need and is a great bargain. The customer service is great and they are very quick to solve any issues or questions that come up.

Cons

Property management module is probably the least flushed out; however, after using if a couple of years, it is adequate for our use. We tend to not hold onto properties for a long time so the shortcomings do not hurt us. Could use better documentation on this module and custom reports, but overall it works well for our purposes.

September 2019

Sara from The Furman Co.

Company Size: 11-50 employees

Industry: Real Estate

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

September 2019

Budgetrac Software for small to mid-size developer

Overall we are pleased with our transition to Budgetrac. The training and support provided by to us has been stellar and I cannot praise our trainer enough.

Pros

Budgetrac provided us the software to move away from spreadsheets for recording and tracking real estate development costs. We love how the entire general ledger accounting system, specifically accounts payable system, integrates with the loan draw system. Additionally, we utilize the commercial property management component since most of our completed development projects turn into managed entities. We like having all of these needs compartmentalized into one integrated software system.

Cons

A few of the screens do not have totals but we understand the developer is working on that for future roll out. It does not "do match" within a field like Quickbooks allows you too, which would be extremely helpful when required to split a cost among job codes, or other general ledger accounts like owner equity accounts.

Reasons for Choosing Budgetrac Real Estate Development Accounting

Bugetrac was financially feasible for the size of company and the size of the portfolio we are managing. It is also the only product we found in our price point that contains both Developer module and the Property Management module in one package.

Reasons for Switching to Budgetrac Real Estate Development Accounting

After watching a live demo of the software and analyzing the cost of the program annually, we felt that the switch would bring a positive ROI to our company.

February 2021

Alan from Kings Mountain Sky Boat Partners

Company Size: 2-10 employees

Industry: Commercial Real Estate

Time Used: Less than 6 months

Review Source


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

February 2021

Job Cost Reporting with Loan Draws

The implementation process went smooth and on schedule. I'm impressed with the customer service I receive and their knowledge of project accounting. I'm pleased with the decision to use Budgetrac and I'm happy with the reports and loan draw process.

Pros

Budgetrac has the job cost reporting I was looking for. I'm able to run job cost reports with cost at completion as well as run loan drawers for my lender.

Cons

I've encountered a few quirks that I had to reach out to customer service for guidance on. They responded quickly and resolved the issue.

September 2019

Anonymous

Verified Reviewer

Company Size: 11-50 employees

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

2.0

Value for money

3.0

Customer support

1.0

Functionality

2.0

September 2019

Budgetrac review

Pros

Cost - based on other platforms BT is a value. Web based - we did not want to manage a server. allows for access while traveling. Import functionality - import invoices and journal entries which saves time and improves accuracy. Reports - decent quality and ok export functionality. Project Budgets - as a homebuilder, we setup a budget for each home, this results in > 200 budgets for some entities. the system does a reasonable job handling this

Cons

There seems to be too many glitches and bugs - at first I thought it was user error, but happens to frequently. User manuals are very basic - not meant to help experienced users. When doing Search / Edit, the user must reset the search criteria everytime - very cumbersome if we need to modify several items. Performance can be very slow at times. Reports have issues, for example there is a AP report we use a lot, but it shows voided checks as positive amounts - makes it challenging to understand what occured without exporting, filtering and sorting. Bank Rec report inserts blank pages what are unncessary. The P&L changes formats if you add the Account Numbers. Some reports use whole numbers (vs two decimals) which creates odd rounding errors. Reports have data limitations which can be cumbersome. Sometimes if you run the report, it will work the 3rd or 4th time. Other times you have to create date ranges and run the report multiple times and than merge your results - cumbersome and time consuming.

Reasons for Choosing Budgetrac Real Estate Development Accounting

cost mostly.

Reasons for Switching to Budgetrac Real Estate Development Accounting

Quickbooks could not do AP or Job Cost at the level we needed

June 2017

MEHEDUL HASAN from Itskybd

Company Size: 11-50 employees

Industry: Architecture & Planning

Time Used: Less than 12 months


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

June 2017

Our Picks for the Best Property Management Software

So we interviewed property managers and landlords across the country on the tools they use and the tasks that keep them busy every day. We learned there are a handful of must-haves: the ability to easily collect rent, manage maintenance requests, and advertise to new tenants, as well as robust accounting, reporting, and document management. We found 15 that met our features requirements; from there we tested each one for ease of use and customer service.

Pros

From there our task was simple: Figure out what property management software had the right features, and then see which were the easiest to use.

Cons

We started with a pretty wide lens, looking at software tailored to residential and commercial properties; for managers of hundreds of units as well as part-time landlords. (We skipped over the niche software — vacation rentals require software that can manage new tenants every week, for example — and preferred SaaS systems to desktop-only options.)