A qualitative research study accomplished by HTF MI titled “Global Property Management and Real Estate Software Market covers detailed Product / Industry
What is the best accounting software for real estate investing?
When choosing for an accounting software for your real estate investing company, it is best that you choose platforms that offer business-specific functions. Among the best examples of this are Sage Intacct, QuickBooks Online, and NetSuite ERP. Of course, you shouldn’t limit yourself to these options. If you want to see what other accounting platforms are available on the market, you should try taking a look at this article on for medium businesses. It provides a more detailed explanation of some of products I’ve mentioned below.
Sage Intacct. Real estate companies not only have to monitor their income; they also need operational insights that will allow them to improve their performance. This is where Sage Intacct comes in. Suitable for small and midsized companies, this system brings together cloud computing and accounting to provide you with innovative solutions to your financial management needs. Equipped with powerful accounting management tools, depreciation tracking, project management options, and workflow automation solutions, this also has a clean interface that both novice and professional software users will surely appreciate.
The vendor also offers world-class customer support to help you make the most out of your investment and great security features to keep your company data away from prying eyes. Moreover, compared to on-premise software systems like Deltek, Oracle, or Microsoft Dynamics which charge thousands per month, Sage Intacct is cheaper as it is available at only $400 per month.
QuickBooks Online. If your real estate company is having trouble managing listings, tracking agents, and monitoring transactions, then, QuickBooks Online is the ideal choice for you. This integrated financial software offers a robust set of functionalities that will not only help you with your accounting tasks but also assist you in managing certain aspects of your operations. For one, it has a customer database that can help you track listings. It also keeps track of how you pay your agents as well as run reports on each property sale to check how profitable your transactions are. Moreover, this platform is completely web-based, making it easy for you to check your financial standing on-the-fly.
For pricing, the vendor offers three enterprise pricing plans depending on the number of features you will be needing for your operations. Just choose from their Simple Start Package which is available at €4.20/month, their Essentials Plan which costs €6.30/month, or their Plus Plan which you can get for €8.70/month.
NetSuite ERP. Accounting professionals in the real estate business often have to perform certain tasks that accountants in other industries won’t have to deal with. This is why NetSuite ERP offers business-specific functionalities. Other than the basic financial management capabilities, this system also offers real estate bookkeeping, audit trail visibility, cash flow statements, real estate accounts payables, and real estate accounts receivables. This way, you can create workflows that are tailored to the unique needs of your business.
Also, since this software is primarily an ERP platform, it can allow you to perform asset management, demand planning, and other tasks that a traditional accounting tool might not offer. As for pricing, NetSuite ERP offers quote-based packages. This means you get a customized quote based on the specific needs of your operations, making it cost-effective.