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What is a Yardi Property Management Software?

Posted on 15/03/2024

What is a Yardi? How is it useful for Bookkeeping?

Yardi is a software vendor that makes applications for all sizes of property management and real estate companies nationwide. It offers a comprehensive suite of software solutions that can be used for property management bookkeeping, accounting, marketing, leasing, and more.

Yardi’s accounting software can be used to automate bookkeeping tasks, such as:

  • Reconciling bank statements
  • Entering invoices and expenses
  • Generating financial reports
  • Tracking accounts payable and receivable
  • Managing budgets

By automating these tasks, Yardi can help property managers save time and improve the accuracy of their bookkeeping. Additionally, Yardi’s accounting software can be integrated with other Yardi applications, such as property management and leasing, to provide a more holistic view of the business.

Here are some of the specific ways Yardi can be used for bookkeeping:

Automating recurring tasks:

Yardi can automate tasks such as bank reconciliation, invoice entry, and expense reporting. This can save time and help to ensure that these tasks are always completed accurately.

Generating reports:

Yardi can generate a variety of reports, such as income statements, balance sheets, and cash flow statements. These reports can be used to track financial performance and identify areas where improvement is needed.

Related Topic: Difference Between Balance Sheets and Income Statements?

Managing budgets:

Yardi can be used to create and manage budgets. This can help to ensure that the business stays on track financially.

Providing insights:

Yardi can provide insights into financial performance. Decisions concerning the company can be made using this information.

Overall, Yardi can be a valuable tool for property managers who want to automate their bookkeeping, generate reports, manage budgets, and gain insights into their financial performance.

If you are a property manager, I recommend considering using Yardi for bookkeeping. It can help you to save time, improve accuracy, and make better decisions for your business.

Features of Yardi Real Estate & Property Management Software:

Now that we’ve covered the basics of Yardi’s services, let’s go deeper into the features that come with this software.

All of these capabilities are aimed at property managers looking to automate or streamline some monotonous processes.

Some of Yardi’s most significant characteristics are:

  • Facility Management
  • Integrated Accounting System Investment
  • Lease Management

These characteristics include several services supplied by the program that are deemed critical for property management organizations.

Below, we’ll go over what these features have to offer and how they can benefit you and your organization.

Facility Management:

One of Yardi’s most useful functions is facility management. This feature helps property managers track and manage maintenance requests across several properties. This allows them to schedule and track multiple maintenance requests simultaneously, all from one location.

This function is highly handy because it effectively automates your properties’ upkeep management procedures.

When a renter requires property repair, which happens frequently, they can send a ticket directly to the site. This allows you to immediately identify the problem and book a service to resolve it as soon as possible.

This function also allows you to employ the personnel required for the needed maintenance. Then, from a single location, you can monitor every step of the process, as well as any tenant comments or complaints.

Integrated Accounting System

Another element of Yardi property management services is an accounting system. These are particularly essential in any aspect of the real estate sector because multiple accounts must be managed and taken care of for each property. This is a crucial element for any property manager interested in property development and business growth.

One of the most beneficial advantages of this accounting system is that it allows the tenant to collect rent online and process all payments through the web interface. This is significantly easier than the usual method of paying rent, such as sending cheques every month.

Yardi also offers a wide range of bookkeeping services and assistance with the establishment of financial corporations. It even provides financial reporting to ensure that all of your assets are in order and that you have all of the financial data required for an audit. This eliminates the requirement for third-party software suppliers to perform accounting services for your property management company.

Investment Management

Yardi also has investment management as one of its important features. This is a feature that may not be available on other software platforms, making it extremely valuable.

This tool provides property managers with a wealth of information about their investments, as well as a means of monitoring them and ensuring that they continue to generate profit. One way it accomplishes this is by creating unique reports that incorporate a variety of data elements, such as resident statistics and past performance.

All of these capabilities make asset management in your firm exceedingly simple and centralized. Even better, Yardi automates all of these procedures, making it easier than ever to grow your portfolio and decrease risk without relying on an outside consulting agency.

Lease Management

Yardi also provides an extremely essential function called the lease manager. This lease manager, like the investment manager, is designed to precisely measure the performance of all of your assets and investments while minimizing risk. This combination of capabilities also enables the user to monitor the health of their portfolio and keep track of tenants.

This feature is useful since it allows a single user to generate reports on all aspects of a tenant or investment and share them with other users on the Yardi CRM platform. This is especially useful in the real estate Bookkeeping business because it gives information on the renter while also calculating the risk of renting to that tenant.


Related Topics: What Is the Best Rental Property Management Bookkeeping Software?

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About the Author:

Pramod has over 11 years of experience relating to finance and accounts in diversified industries. He is an expert in resource and process optimization resulting in greater operational efficiencies.

Author can be reached at [email protected]

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