Quickbooks vs. Property Management Software, or Both?

Your single family business needs a more holistic property management software, but you have concerns. All of your financial systems work with Quickbooks, and you don't want to switch. Will making a change from Quickbooks to a new property management system force you to run two parallel software programs to manage customer needs with those of the business? The decision rests on how well each type of software works for your specific business needs and whether you're able to integrate the different software systems.

Software is Shifting to the Cloud

Cloud-based software programs are of huge benefit to businesses. Multiple employees can access your programs at the same time from many different locations, making the business more flexible and information easier to retrieve. Many businesses use cloud-based software programs to manage aspects of their business such as email but still use on-site accounting software. Gradually, cloud-based programs are catching up to the features that Quickbooks has to offer. Forbes says that Quickbooks may be on its way out for some businesses, stating "the cloud has caught up to the accounting world. And there are many competitors to QuickBooks standing by to pounce."

Should You Choose Quickbooks or a Property Management System?

The decision to stay with Quickbooks or move to a new property management system depends on what features the new system offers.

Quickbooks can help businesses see all of their money management on a single page, and it can even link to a bank account. You can manage and view expenses and send out invoices that are easily tracked through the financial software. As the Houston Chronicle mentions, this feature can help your business save a lot of time on administration, providing the time-saving benefit of tracking sales and automatically creating receipts and invoices at the touch of a button. Best of all, Quickbooks provides reports that allow you to see income and expenses and how they flow over time so that you can consider changes you'd like to make to your business.

Property management software such as Propertyware moves beyond basic accounting to help you manage repairs, tenant information, and leases. It can capture and collect payments, access vendors and bill payments, enable online payments, manage bank reconciliations, manage your budget, and develop financial reports.

Moving to an Integrated System

If all of your historical data is on Quickbooks and you're most comfortable using that software, you don't need to quit - even if you're choosing new property management software. Propertyware integrates with Quickbooks, providing a system that merges the best of both software products. Property managers can work within the familiar framework of Quickbooks while managing tenant concerns and repair records for properties, as well. Working within an integrated system can save time and reduce errors caused by moving between different software products.
"I like the fact it integrates everything together." - Jim Stevens / Stevens Realty

When you're looking for property management solutions, visit Propertyware. Our systems are focused on the needs of property managers, and we're here to support your business.
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