Process Snapshots

The Accounts Payable Process Snapshot detailed below is for a multi-family residential developer using Yardi Voyager. AP is being performed in Yardi PAYscan environment with pre-set work-flows governing the movement of invoices across operations and accounting.

Key Activities Done

Entry of invoices and utilities, allocating AP invoices to correct work-flows, clearing held/stuck invoices by coordinating with site, Check/ACH Processing, Debit Card/ CC transactions and miscellaneous activities such as vendor set-up, funding petty cash etc.

The Accounts Receivable Process Snapshot detailed below is for a Multi-family Residential developer with Section 8 Rent Tenants. Properties are being managed in Yardi Genesis. Leases are maintained in Yardi, Move-Ins and Move-Outs happen through the month and Yardi CheckScan used for receiving tenant payments.

Key Activities Done

Move-Ins (Set-up of leases), Move-outs, Security Deposit Refunds, Monthly Rent Run, Late Fees, Rent Receipting across different payment modes, Delinquency reports and tenant ledger adjustments.

The Bank Reconciliation Process Snapshot detailed below is for firms managing single-family, multifamily residential, commercial properties, HOAs and industrial properties. The process can be followed for both accrual and cash based accounting system with bank reconciliation performed in Yardi. A similar process is followed for clients using Appfolio, MRI, RealPage, QuickBooks and Microsoft Dynamics.

Key Activities Done

Reconciling bank accounts - dealing with transactions not posted in the software, bank reconciliation discrepancies, bank reconciliation postings and reports.

The Month End Closing Process Snapshot detailed below is for a Multi-family Residential and Student Housing portfolio managed in Yardi Genesis. The accounting system comprises of Accrual Based Accounting with PO based AP System. A similar process is followed for clients using MRI and Appfolio.

Key Activities Done

AP Closing, AR Closing, Expense Accruals, Prepaid Amortizations, Bank and Escrow Reconciliations, Inter-Company Entries/Reconciliations, Management Fees Calculations, GL Review including Income and Expense Reclassifications, Variance Comments, Draft Financial Packages and Finalized Financials Packages.

130+ real estate clients across North America in all major states and real estate sectors
Handling accounting for 250,000+ units across USA
High client satisfaction - Most of our clients have been with us since 8+ years
Fully integrated real estate service provider providing services in leasing, administration, accounting, analysis and allied services
Specialist real estate services provider since 2006
Senior management team with rich outsourcing and management experience since 2003 in global companies
Staff with at-least six years of real estate accounting experience
High expertise in Real Estate software such as Yardi, AppFolio, OneSite, MRI, Timberline, Spectra and QuickBooks
Spacious office set-up (30,000 square feet) with modern facilities and uninterrupted power supply
200 MBPS high speed dedicated internet leased line

Representative Accounts Payable, Accounts Receivable, Bank Reconciliation and Month End Closing Process Snapshots for Real Estate firms managing their portfolio in Yardi, Appfolio, OneSite (RealPage) and MRI