Accounting Services
Impact of Fixed vs. Variable Expenses on Vacation Rental Revenues
Here’s what you need to know to understand fixed and variable expenses in short-term rental revenue strategy: Fixed expenses are consistent costs like mortgage, insurance, and taxes, while variable expenses fluctuate with occupancy, such as cleaning fees and OTA charges Fixed expenses help set cost targets but variable expenses determine pricing decisions Dynamic pricing can…
Read MoreXimplifi, LLC. Becomes a Keeping Count Company with Recent Acquisition
Wichita, KS, US – Ximplifi, LLC., an accounting solutions provider specializing in vacation rental management, announced its acquisition by Keeping Count, a leading provider of outsourced accounting and bookkeeping services. The acquisition represents a strategic leap towards enhancing customer value, expanding service capabilities, and bringing more industry-focused solutions to market. Ximplifi founder and CEO, Jesse…
Read MoreShort-Term Rental Tax Compliance for Property Managers
Achieving short-term rental tax compliance can be a complex, nuanced process, from understanding filing timelines and frequencies to license registration and revenue reporting. The goal of this article is to put your mind at ease as a property manager and keep your business in good standing. Continue reading to find answers to common questions related…
Read MoreVRPatform + OwnerRez Partner for VRM Accounting
We are excited to share that OwnerRez users are now eligible to receive ongoing VRAccounting services thanks to the newly developed integration partnership with VRPlatform! The new integration between VRPlatform and OwnerRez allows users to automatically sync reservations, fees, and payment data into QuickBooks Online for simplified trust accounting. Outsource with Ximplifi For…
Read MoreTop 5 advantages of outsourcing
Top 5 advantages of outsourcing accounting: Cost savings. Taking into consideration the full cost of full-time employees (salaries plus employer taxes, recruiting fees, and benefits, and more.), the cost of outsourcing is typically similar and often less because of the use of best practices, powerful software and access to employees on a fractional instead of…
Read MoreWhat to Look for in an Outsourced Accounting Firm for your VRM Business
What to Look for in an Outsourced Accounting Firm Here’s a common misconception about outsourcing: Any firm you choose must be better than what you already have. People assume that once they’ve selected an outsourcing firm, their problems are solved. But some firms are better than others. And while the option you choose may improve…
Read More7 Financial Housekeeping Tips for Vacation Rental Managers
Imagine your business is one of your rental properties. No matter how much curb appeal it has, if the interior is a mess, it’s not going to live up to its potential. The same logic applies when it comes to your property management company. Even before going public, many successful companies depend on clean financials…
Read MoreSimplify Vacation Rental Accounting with Guesty x VRPlatform
Guesty: A Vacation Rental Management Solution Established in 2013 by twin brothers Amiad & Koby Soto, Guesty is an end-to-end hospitality operations platform built to optimize and automate every aspect of your hospitality operations. With advanced technology, industry-wide expertise, and a team of 200+ engineers, Guesty saves time, maximizes revenue, and keeps your business ahead…
Read MoreOutsourcing vs. Upgrading: Two Options for Vacation Rental Accounting
Outsourcing vs. Upgrading: Two Options for Vacation Rental Accounting The exacting demands of trust accounting create huge headaches at most vacation rental management businesses. Trust accounting is a time- and labor-intensive obligation that repeats month after month. Even harder, the particulars of trust accounting are foreign to many working accounting professionals and hard to learn…
Read MoreBest Practices for Month-End Close in Vacation Rental Management
Best Practices for Month-End Close in Vacation Rental Management The month-end close puts extra strain on vacation rental management businesses. They’re not just accountable to themselves; they send month-end reports to property owners who will expect to see positive numbers presented on time. The month-end close consumes a lot of resources and inspires a certain…
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