What factors to consider when choosing a real estate accounting software for your business
May 30, 2024

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:

1. Identify Your Needs: Understand your business requirements and the specific accounting tasks you need the software to handle. This could include basic bookkeeping, property management, budgeting, reporting, or tax compliance.


2. Scalability: Consider the scalability of the software. Will it be able to accommodate your business as it grows? Ensure that the software can handle an increase in transactions, properties, and users if needed.


3. Integration: Check if the software integrates seamlessly with other tools or software you already use, such as property management systems, CRM software, or tax preparation software. Integration can streamline your workflow and reduce manual data entry.


4. Cloud-Based vs. On-Premises: Decide whether you prefer cloud-based or on-premises software. Cloud-based solutions offer accessibility from anywhere with an internet connection and often come with automatic updates and backups. On-premises software might offer more control over data but requires infrastructure and maintenance.


5. Features and Functionality: Look for features tailored to real estate accounting, such as lease management, CAM (Common Area Maintenance) reconciliation, tenant billing, rent tracking, and expense tracking by property or unit.


6. User-Friendliness: Choose software that is intuitive and easy to use. A user-friendly interface will save time on training and reduce the likelihood of errors.


7. Reporting Capabilities: Consider the reporting capabilities of the software. Can it generate the financial reports you need, such as profit and loss statements, balance sheets, cash flow statements, and rent roll reports?


8. Compliance and Security: Ensure that the software complies with relevant accounting standards and regulations, such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards). Also, prioritize security features to protect sensitive financial data.


9. Customer Support: Evaluate the level of customer support provided by the software vendor. Prompt and reliable support can be crucial when you encounter issues or need assistance with the software.


10. Cost: Compare the pricing plans of different software options, considering factors such as subscription fees, setup costs, additional user fees, and any hidden charges. Choose a solution that fits your budget while providing the necessary features and support.


11. Reviews and Recommendations: Read reviews from other real estate professionals and seek recommendations from peers or industry associations. Their insights can help you gauge the software's reliability and suitability for your business.


By carefully considering these factors and conducting thorough research, you can select the best real estate accounting software to streamline your operations and drive the success of your business. Are you interested in learning more about real estate accounting software from a reliable professional? Contact us today to learn more.


By Lindsay Van Kauwenberg July 9, 2025
Choosing the right outsourced accounting partner requires a careful evaluation of several key factors.
By Lindsay Van Kauwenberg May 1, 2025
SX Business Services is proud to introduce our newest Accounts Payable Administrator, Ed Keogh. His first job out of school was in financial services in Dublin where he spent 7 years working in various roles in the branch. Originally from southwest Dublin, he emigrated to the US in 2003. Married for 22 years to his lovely wife Sue they share two sons together, Aodhan (18) and Ryan (12) and a beautiful love story. They met at a bar in Dublin one Wednesday night and hit it off immediately while she was travelling through Europe. After a week or two of dating they took a vacation together and before the trip ended, he asked her to marry him with only his Claddagh ring. The importance of family was instilled in Ed as he was raised in a small 3-bedroom house with his parents and 6 siblings. He tries to return to Ireland once a year and brings his family back when he can. He loves watching, playing, and coaching football (OK soccer) and has been a volunteer Treasurer for Norwood Youth Soccer since 2019. His favorite team is Manchester United, and his favorite US soccer team is the NE Revolution. Additionally, he enjoys woodworking and has a small woodshop in his basement at home. He and his wife have traveled extensively together through the years and have also brought their kids to places such as: Ireland (obviously), Mexico, Canada, Spain, and Dominican Republic. Once they find a place they like, they are known to go back. Ed in his own words: What do you like about working at SX so far? “I love how friendly everyone is since I only started last month. I love the collaborative spirit as well. I love the work, my team and everyone I have come into contact with here.”
By Lindsay Van Kauwenberg April 17, 2025
SX was fortunate to welcome Jillian as a staff accountant in December of 2023, she was quickly and deservedly promoted to the position of Property Accountant a year later. She is a graduate of Suffolk University with a Bachelor of Science in Business Administration – with an accounting major and business management minor. Her father has been a business owner for 43 years and motivated her to garner the minor in business management to someday follow in his footsteps. Growing up in West Bridgewater, MA, she claims her summers were the best part of living there and enjoyed each season at the beach tanning away. She has two older siblings, one brother and one sister whom she is very close to. Her family had a black labrador for over 13 years and they miss her dearly. Someday she wishes to be home more to have the flexibility to adopt at least one dog again. She is looking forward to the opportunity to travel and has never really left the United States. Her family went to Niagara Falls on the Canada side when she was two… that counts right!!? A short list of dream locales to visit include Italy, Greece, Dubai, Hawaii, and any other tropical islands. Jillian – ‘In her own words’: Have you learned anything new as an adult that you didn’t experience as a child? I recently tried skiing for the first time, and I absolutely loved it. I gave my retired gymnast self-credit as it was easy to learn. I enjoy being active. If you could have any other job, what would it be? My dream job would be to own a busy coffee shop or café since my two prior years working at Starbucks gained me a coffee addiction. I would also like to open a business for mind/body health – such as a trampoline park to help people suffering from fibromyalgia/ being a fitness instructor/ and potentially help people further with their health through supplementation/diet. What do you like most about your job, and/or working for SX? I enjoy accounting especially ever since I got to SX – I have noticed great vibes since coming here, and everyone is super helpful. We really make a great team.