Rental property accounting automation
From boosting visibility to freeing teams to focus on what matters, property management accounting automation is changing the industry.
There’s a missed opportunity in property management accounting processes
Teams spend many hours each week on manual accounting and reporting tasks that could be spent on more meaningful work. This challenge, along with others, is making it harder for businesses to get more work done and grow. Learn about the top property management accounting challenges and how you can overcome them by pivoting your strategies.
What is real estate accounting automation?
As more and more businesses look to simplify tasks and get time (and money) back, they are turning to automation. In property management, automation completely transforms the accounting workflow, as it eliminates the need for manual input and instantly standardizes rental property accounting processes. This helps teams work more efficiently and gain better control over operations.
“When my business processes were not automated and consistent, errors occurred more frequently. Between the risk of failing an audit and losing customers because of financial inaccuracies, there isn’t space to make mistakes.”
How automation can improve every aspect of real estate accounting and reporting
Boosts efficiency and frees up accounting teams
Rather than taking days or weeks to complete routine tasks, automated accounting tools do the most repetitive work, saving time and money. This way, teams have more time to devote to impactful and motivating work, which boosts productivity and employee satisfaction.
Minimizes errors and inconsistencies
Entering data into multiple systems can quickly lead to mistakes. When accounting and reporting processes follow a standardized workflow through automation, there’s less room for error, and data is more accurate, especially when it comes to complicated processes like end-of-year reporting and preparing 1099s.
Empowers smarter decision making
Inaccurate or incomplete data makes it difficult to gather the information that management needs to understand a property’s financial performance. By automating parts of the accounting process, performance insights can be generated in real time to make better decisions quickly.
Take your property management accounting processes to the next level
Download this free guide for strategies, automated tools, and practical tips to save time and avoid risk.
Thinking of introducing accounting
automation? First, you'll need to centralize.
automation? First, you'll need to centralize.
When all business data is in one place rather than spread across multiple systems, only then is it possible to
automate key accounting workflows. Here’s why:
Creates a single source of truth
Accelerates routine tasks
Reduces the need for repetitive inputs
Next, you’ll need to optimize your property management accounting processes
Audit your accounting processes
See how much time you spend on specific accounting processes and look for ways to automate workflows to boost efficiency.
Put digital accounting tools to work
Utilize innovative technology like automated accounts payable and recurring online payments to streamline key accounting processes and get back time.
Find a trusted solution
Accounting is the foundation of a property management operation, so you need reliable and efficient software. Accounting software that is purpose-built specifically for property management can give you the structure and security you need to optimize your workflows.
Streamline your accounting operations with AppFolio Property Manager
Automate your workflows, save time, and gain a better understanding of how your business is performing.
Get Started“AppFolio was so easy to learn, and now we can process 1099s and year-end statements and reconcile accounts in half the time. With the time we’ve gotten back, we have been able to focus on other things, like bringing on new owners and giving back to the community.”
Founder and Owner, Shaw Real Estate
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