It is simple – accounting software saves your agency time and money while leaving your to focus on the people who create your income – the clients.
As Gary Whittaker, Director of Rentman explains: “By automating data input and all of the statement, invoicing and letter production, the right software can drastically reduce the time spent on these repetitive and burdensome tasks.”
It also removes some of the downsides of the accounting role. One of those is chasing rent arrears. VTUK’s Gemini software can automatically text them a SMS message, configured by the user, chasing their rent, along with an integrated ‘Rent on Time’ solution that facilitates payments to landlords whilst the tenant is in arrears. This ensures that the landlord gets paid but keeps the tenant in arrears so they can be chased for the outstanding rent.
Software will also remove much of the issues of plain old human error or forgetfulness. Claire Tucker of Jupix says, “Accounting software can ensure every single penny which enters your agency is accounted for, leaving no room for error.”
Rentman’s software helps with an intelligent “things to do” reminder system that doesn’t let the agent forget any tasks especially legally required ones such as gas safety certificates. Everything that is done through it creates a journal leaving a full accounts audit trial and event history.
By automating data input and statements, invoicing and letters, software can drastically reduce time spent on these repetitive tasks. Gary Whittaker, Rentman
This is really important for compliance with changing legislation. Andrew Campbell, Sales Manager of VTUK says, “The protection afforded by a constantly updated compliance model is priceless.”
Software systems like PropCoTM can link directly with the Tenancy Deposit Scheme, ensuring that the correct information can be taken straight from the system, it has also been adapted to comply with changes such as to Landlord Registration and the holding of Tenancy Deposits under Scottish law.
Gemini’s system also records DSS properties, catering for HMOs and accurately recording the information – and reminding agents when the housing benefit is due.
Whilst the benefits can add to management efficiency and affect the bottom line of an established agency, for many new companies the benefits offered by accountancy software can provide a lifeline in the early years when budgets, staff and time are most limited. James Whitley of Latitude Residential used Rentman in his start-up period, “The software proved to be of great assistance, particularly at those early stages,” he says.
Accuracy and efficiency are vital, says Steve Barker at C.A.R.L.. “The user-friendly Client Accounting system within C.A.R.L. enables users to manage their client accounts in detail, ensuring accuracy in all financial transactions.”