In Depth Owner Statements for Vacation Rentals With Sage Intacct
Founder & CXO
In Depth and Valuable Owner Statements for Vacation Rentals With Sage Intacct
For vacation rental property managers, one responsibility matters more than all the others: preparing monthly owner statements. No matter how well a property manager performs in other respects, they can’t expect to keep clients without delivering accurate owner’s statements and timely owner payouts.
Owners rely on these statements to understand what a property manager is doing on their behalf and whether it’s generating the revenue projected. Monthly owner statements summarize performance, so it’s no wonder that owners expect them to be perfect and judge property managers on their ability to supply them. The quality and consistency of these statements could be what compels clients to stay or go.
Unfortunately, preparing monthly owner statements is also one of the most daunting responsibilities facing property managers. It can consume huge amounts of time on a monthly basis and requires a high-level of precision, which grows as more clients come onboard. In many cases, it’s the biggest obstacle to scaling their business: the Achilles heel of the industry. Here’s the solution.
Sage Intacct – Built for Reporting
Sage Intacct is already one of the most popular financial management solutions in the hospitality industry and it is quickly becoming the go-to solution for vacation rental property managers. It offers a comprehensive suite of financial management tools, including trust accounting. In addition, VRAccountant by Ximplifi connects Sage Intacct with several of the leading PMS’s to create a seamless link between booking and accounting. Sage Intacct combined with VRAccountant gives property managers a Best-in-Class solution to manage both the companies and owners’ books all in one powerful system.
Sage Intacct’s built-in reporting capabilities are second to none. Many trust accounting solutions have rigid owner statements with no ability to customize. Sage Intacct’s powerful custom reporting tool, lets property managers control what and how they report to owners, including access to a custom Owner’s Dashboard. Sage Intacct reporting capabilities are robust in many ways, but they’re exceptional in three ways:
- Accessibility – Intuitive interfaces and automated features make reporting easy for anyone. Creating an owner statement or owner dashboard no longer takes specialized experience, expertise, or training thanks to a tool that simplifies and streamlines a complex process.
- Efficiency – It takes very little time or input to create an owner statement when all the financial data involved exists on the same platform, Sage Intacct. Reporting isn’t so much a process as a request since automation and other smart features handle the majority of the work.
- Customization – Sage Intacct reports are easy to customize so that owner statements include whatever information may be necessary. The same customization options make this a powerful tool for property managers to report on their own performance.
A finely-tuned process for creating monthly owner statements sets a property manager up for brisk, sustained growth – just as a poor process does the opposite. Rely on Sage Intacct to perfect the reporting process. And rely on Ximplifi to help you make the most of this technology. Contact us to explore Sage Intacct’s lifesaving reporting capabilities.
10 Signs You've Outgrown QuickBooks
Frustrated with QuickBooks?
Download my article to determine if you need a more sophisticated system to meet your needs.