SX Business Services
SX Business Services
We'll handle all your real estate accounting needs, so you can focus on your business.
Simplifying your Real Estate Management
We offer professional accounting services for real estate businesses in the United States.
Our financial services help give you the confidence to grow your real estate venture.
Our client accounting real estate specialists provide innovative technology solutions to streamline procedures and reduce your costs.
SX Business Services is more than an accounting outsourcing solution, we are a financial management partner that helps ensure your business grows quickly, efficiently, and profitably.
Nexus Systems
Real Estate's Choice for AP Automation & Payments
Yardi
Innovative Property Management Software
Featured Software Partners
Services for Landlords, Accredited Investors, Syndicates, and Real Estate Funds
| Why Choose Us? | |
|---|---|
| ✓ Trust | ✓ Expertise |
| ✓ Accuracy | ✓ Experience |
| ✓ Confidentiality | ✓ Professional |
What our Customers Say
The SX Business Team is very knowledgeable, responsive and meets all of my company accounting and client reporting needs. Since engaging SX I have been able to focus on growing my business knowing the SX team is handling the back office. I highly recommend their services.
K. David Meit
President & CEO, Oculus Realty
SX Business Services News
Choosing the best real estate accounting software for your business involves considering several factors to ensure it meets your specific needs. Here is a step-by-step guide to help you make the right choice:
In real estate, the accounts payable (AP) department functions similarly to AP departments in other industries but with some distinct differences due to the nature of real estate transactions and operations. Here are a few ways in which an accounts payable department in real estate might differ: Volume and Complexity of Invoices: Real estate companies often deal with a high volume of invoices from various vendors, including contractors, suppliers, utility companies, property management firms, and more. These invoices can vary significantly in terms of complexity, such as invoices for property maintenance, repairs, renovations, leasing expenses, property taxes, and utility bills. As such, the AP department in real estate needs to efficiently process a diverse range of invoices while ensuring accuracy and compliance. Property-specific Expenses: Real estate companies typically manage multiple properties, each with its own set of expenses. The AP department must track and manage property-specific expenses, such as maintenance and repair costs, property taxes, insurance premiums, and utilities. This requires robust accounting systems and processes to allocate expenses accurately to the appropriate properties and projects. Vendor Relationships: Building and maintaining strong relationships with vendors are crucial in real estate. The AP department may work closely with vendors to negotiate payment terms, resolve billing discrepancies, and ensure timely payments. Additionally, real estate companies often rely on long-term relationships with contractors, suppliers, and service providers, so the AP department plays a key role in fostering these relationships to ensure smooth operations. Compliance and Regulations: Real estate transactions and operations are subject to various regulatory requirements and compliance standards, which can vary by jurisdiction. The AP department must stay updated on relevant regulations related to taxation, leasing, property management, and other aspects of real estate finance. Compliance with regulations such as lease accounting standards (e.g., ASC 842) and tax laws is essential to avoid penalties and ensure accurate financial reporting. Budgeting and Forecasting: Real estate companies typically have extensive budgets and financial forecasts that the AP department contributes to by providing data on expenses and payables. This may involve analyzing historical spending patterns, projecting future expenses, and collaborating with other departments, such as finance and asset management, to develop accurate budgets and forecasts. Overall, while the core functions of an accounts payable department remain consistent across industries, the unique characteristics of the real estate sector necessitate specific skills, processes, and expertise to effectively manage payables and support the financial health of the organization. If you have any questions about how SX Business Services can assist you with your outsourced accounts payable needs, please reach out today!
Nicole Bui, Senior Treasury & Accounts Receivable Analyst
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(781) 352-2329
661 Pleasant St Norwood MA
02062
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Choosing the best real estate accounting software for your business involves considering several factors to ensure it meets your specific needs. Here is a step-by-step guide to help you make the right choice:
In real estate, the accounts payable (AP) department functions similarly to AP departments in other industries but with some distinct differences due to the nature of real estate transactions and operations. Here are a few ways in which an accounts payable department in real estate might differ: Volume and Complexity of Invoices: Real estate companies often deal with a high volume of invoices from various vendors, including contractors, suppliers, utility companies, property management firms, and more. These invoices can vary significantly in terms of complexity, such as invoices for property maintenance, repairs, renovations, leasing expenses, property taxes, and utility bills. As such, the AP department in real estate needs to efficiently process a diverse range of invoices while ensuring accuracy and compliance. Property-specific Expenses: Real estate companies typically manage multiple properties, each with its own set of expenses. The AP department must track and manage property-specific expenses, such as maintenance and repair costs, property taxes, insurance premiums, and utilities. This requires robust accounting systems and processes to allocate expenses accurately to the appropriate properties and projects. Vendor Relationships: Building and maintaining strong relationships with vendors are crucial in real estate. The AP department may work closely with vendors to negotiate payment terms, resolve billing discrepancies, and ensure timely payments. Additionally, real estate companies often rely on long-term relationships with contractors, suppliers, and service providers, so the AP department plays a key role in fostering these relationships to ensure smooth operations. Compliance and Regulations: Real estate transactions and operations are subject to various regulatory requirements and compliance standards, which can vary by jurisdiction. The AP department must stay updated on relevant regulations related to taxation, leasing, property management, and other aspects of real estate finance. Compliance with regulations such as lease accounting standards (e.g., ASC 842) and tax laws is essential to avoid penalties and ensure accurate financial reporting. Budgeting and Forecasting: Real estate companies typically have extensive budgets and financial forecasts that the AP department contributes to by providing data on expenses and payables. This may involve analyzing historical spending patterns, projecting future expenses, and collaborating with other departments, such as finance and asset management, to develop accurate budgets and forecasts. Overall, while the core functions of an accounts payable department remain consistent across industries, the unique characteristics of the real estate sector necessitate specific skills, processes, and expertise to effectively manage payables and support the financial health of the organization. If you have any questions about how SX Business Services can assist you with your outsourced accounts payable needs, please reach out today!