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Lisa Richards Nov 2016 0 Comments
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Property Management Tips: Reconciling Your Accounts

In a perfect world, when you reconcile your property management bank accounts, everything checks out with the bank. Your account statements align perfectly with what your accounting software states, and you can easily check that off your long list of things to do.

We all know that’s not how it works. Reconciling your accounts is hard enough to do on a monthly basis, but when you get behind, it can really be a problem. How often have you run into problems? Things like:

  • Transposed transactions that are throwing off your balance
  • Missing cash deposits that you or someone else forgot to enter
  • Interest that hasn’t been added into your system since the beginning of time
  • Small checks you wrote for bills, but that you forgot to record

Property management is a tough business, for sure. You’re constantly busy; either working on new projects, securing new tenants or keeping current tenants happy. Still, making sure your accounts are in order needs to be high on your list of priorities because it could end up setting you back and costing you a lot of money in the end.

PropertyBoss can help you with all kinds of great features that will make reconciling your bank accounts a breeze. We can integrate with different types of accounting software to provide you with a seamless experience that’s easy to read and easy to maintain. This is the best internal General Ledger accounting system you can find in property management software, and we offer support for QuickBooks accounting groups too. Everything you need to see and compare will be readily available for you, yet you can keep your information separate.

When it comes time for you to export your reports, PropertyBoss can assist you with that too. We interface with many different accounting packages to make sure you get the accurate reports you need.

At PropertyBoss, our goal is to find solutions that will work for you, and if you don’t find what you’re looking for, let us know! We love creating customized answers to our clients’ biggest challenges. Contact us to learn more!

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