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Best real estate accounting software

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedOct 20222 min read

Professional real estate agents have many plates to keep spinning to achieve and maintain success, with one of the most important being their accounting principles.

Real estate accountants must keep accurate reports and records throughout every buying and selling process which is why reliable property accounting software is crucial. Using good real estate accounting software also helps agents with their own personal financial situations, as well as ensuring they stay on top of tax payments and compliance.

Here we have selected the three best pieces of real estate accounting software available today, and explain their features and how they can help real estate accountants keep on top of all property-related accounting processes and procedures. The three best pieces of real estate accounting software are:

Xero
QuickBooks Desktop Enterprise
NetSuite

Xero

Xero is award-winning online accounting software designed for small business owners and accountants, and is especially useful as property accounting software. It enables users to take control of unpaid bills, helping to generate predictable cash flow. It is also a lower-cost alternative to card payments, with bank-to-bank payments cutting out the costs of card networks. Xero's excellent automation also massively reduces the costs involved in chasing and managing payments.

What makes Xero one of the best pieces of real estate accounting software is its popularity with payers, as bank debit is the preferred alternative to manual bank transfers, as well as being much more popular than card payments.

It is used on any computer or mobile device with an internet connection, and the business finances and cash flow features are constantly updated in real time. Xero property accounting software lets you import transactions from bank accounts and integrates with over a thousand 3rd-party business applications.

Xero also partners with GoCardless so when your invoice is due, GoCardless automatically collects payment from your customer’s bank account.

QuickBooks Desktop Enterprise

There are several QuickBooks products out there, but the best real estate accounting software out of all their offerings is without a doubt the QuickBooks Desktop Enterprise. It is accounting software designed for small businesses in industries such as construction, non-profit distribution and manufacturing and retail, and also excels in bookkeeping for real estate agents.

Some of the Quickbooks Desktop Enterprise features include inventory management, inventory tracking, expense tracking, payroll management, invoicing, multi-user management and advanced reporting tools. While not all of these features are of use to a real estate agent, the customizable reporting tools that enable data analysis are ideal for property management and accounting.

QuickBooks Desktop Enterprise also allows you to control and customise financial transactions, as well as automating them for extra efficiency and accuracy. Other useful features include batch invoicing, invoice tracking, cash flow management, fixed asset tracking, sales tracking and payment processing.

NetSuite

NetSuite is all-in-one cloud accounting software that enables real estate accountants to operate more efficiently by automating core processes, while offering real-time visibility into operational and financial performance. NetSuite features a single integrated hub of applications for managing accounting and also has features for order processing and inventory management.

NetSuite is good real estate accounting software thanks to its complete view on financial performance and cash flow analysis. The software includes general ledgers, cash management, tax management, accounts receivable and payable, as well as fixed asset management and payment management. The integrated system also provides ERP, financials, PSA, supply chain management and CRM.

NetSuite is accessed through an active internet connection for both IOS and Android devices, with no need to install or download any extras.

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