What factors to consider when choosing a real estate accounting software for your business
May 30, 2024

Choosing the best real estate accounting software for your business involves considering several factors to ensure it meets your specific needs. Here is a step-by-step guide to help you make the right choice:

1. Identify Your Needs: Understand your business requirements and the specific accounting tasks you need the software to handle. This could include basic bookkeeping, property management, budgeting, reporting, or tax compliance.


2. Scalability: Consider the scalability of the software. Will it be able to accommodate your business as it grows? Ensure that the software can handle an increase in transactions, properties, and users if needed.


3. Integration: Check if the software integrates seamlessly with other tools or software you already use, such as property management systems, CRM software, or tax preparation software. Integration can streamline your workflow and reduce manual data entry.


4. Cloud-Based vs. On-Premises: Decide whether you prefer cloud-based or on-premises software. Cloud-based solutions offer accessibility from anywhere with an internet connection and often come with automatic updates and backups. On-premises software might offer more control over data but requires infrastructure and maintenance.


5. Features and Functionality: Look for features tailored to real estate accounting, such as lease management, CAM (Common Area Maintenance) reconciliation, tenant billing, rent tracking, and expense tracking by property or unit.


6. User-Friendliness: Choose software that is intuitive and easy to use. A user-friendly interface will save time on training and reduce the likelihood of errors.


7. Reporting Capabilities: Consider the reporting capabilities of the software. Can it generate the financial reports you need, such as profit and loss statements, balance sheets, cash flow statements, and rent roll reports?


8. Compliance and Security: Ensure that the software complies with relevant accounting standards and regulations, such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards). Also, prioritize security features to protect sensitive financial data.


9. Customer Support: Evaluate the level of customer support provided by the software vendor. Prompt and reliable support can be crucial when you encounter issues or need assistance with the software.


10. Cost: Compare the pricing plans of different software options, considering factors such as subscription fees, setup costs, additional user fees, and any hidden charges. Choose a solution that fits your budget while providing the necessary features and support.


11. Reviews and Recommendations: Read reviews from other real estate professionals and seek recommendations from peers or industry associations. Their insights can help you gauge the software's reliability and suitability for your business.


By carefully considering these factors and conducting thorough research, you can select the best real estate accounting software to streamline your operations and drive the success of your business. Are you interested in learning more about real estate accounting software from a reliable professional? Contact us today to learn more.

5 Costly Accounting Mistakes in Rental & Leasing—and How Outsourcing Can Save You

By Lindsay Van Kauwenberg • January 22, 2026
Managing rental properties and leasing agreements is no small feat. Between tenant payments, maintenance costs, and compliance requirements, even minor accounting mistakes can lead to major financial consequences. Unfortunately, these errors are more common than you think—and they can cost property managers thousands in lost revenue, penalties, and inefficiencies. Here are five common accounting mistakes rental and leasing companies make—and why outsourcing your accounting could be the smartest move for your business. 1. Mismanaging Security Deposits Security deposits are subject to strict state regulations. They must be properly recorded, held in separate accounts, and returned within legal timeframes. Misallocating these funds or failing to track them accurately can result in legal penalties, tenant disputes, and reputational damage. Example: A property manager accidentally uses a tenant’s security deposit for operating expenses. When the tenant moves out, the funds aren’t available—leading to legal action and fines. 2. Inaccurate Rent Tracking Late payments, partial payments, and rent increases can easily cause errors in your books. Missing even one entry can throw off cash flow and make financial reporting unreliable. This often leads to incorrect budgeting and missed opportunities for growth. Impact: Poor rent tracking can result in underreported income, making your financial statements inaccurate and potentially causing tax issues. 3. Overlooking Maintenance Expense Allocation Property maintenance costs often get lumped together or misclassified. This can distort your profit margins and lead to incorrect tax deductions. For multi-unit properties, failing to allocate expenses properly can make it impossible to assess which units are profitable. 4. Failure to Reconcile Escrow and Operating Accounts Rental businesses often manage multiple accounts for deposits, operating expenses, and reserves. Skipping reconciliations can allow discrepancies—or even fraud—to go unnoticed. Regular reconciliation is essential for catching errors before they spiral out of control. 5. Ignoring Compliance and Tax Rules Rental income is subject to specific tax regulations, and mistakes in reporting can trigger audits or fines. Many companies also fail to properly account for depreciation on rental properties, missing out on significant tax benefits. Why Outsourcing Is the Solution Outsourcing your accounting to professionals who specialize in property management offers key advantages: Industry Expertise: Outsourced teams understand rental-specific regulations and best practices. Improved Accuracy: Reduce costly errors in rent tracking, deposits, and expense allocation. Cost Savings: Avoid hiring full-time staff and reduce overhead. Scalability: Easily handle growth as you add more properties. Peace of Mind: Stay compliant and focus on tenant satisfaction instead of spreadsheets. Bottom Line Simple accounting mistakes in rental and leasing operations can cost thousands in lost revenue, penalties, and inefficiencies. Outsourcing ensures accuracy, compliance, and financial clarity—so you can focus on growing your portfolio. Ready to eliminate costly mistakes and streamline your accounting? Contact us today to learn how outsourcing can transform your rental business.

What to Look for When Choosing an Outsourced Real Estate Accounting Firm

By Lindsay Van Kauwenberg • July 9, 2025
Choosing the right outsourced accounting partner requires a careful evaluation of several key factors.

SX Business Services Employee Spotlight: Edward Keogh, Accounts Payable Administrator

By Lindsay Van Kauwenberg • May 1, 2025
SX Business Services is proud to introduce our newest Accounts Payable Administrator, Ed Keogh. His first job out of school was in financial services in Dublin where he spent 7 years working in various roles in the branch. Originally from southwest Dublin, he emigrated to the US in 2003. Married for 22 years to his lovely wife Sue they share two sons together, Aodhan (18) and Ryan (12) and a beautiful love story. They met at a bar in Dublin one Wednesday night and hit it off immediately while she was travelling through Europe. After a week or two of dating they took a vacation together and before the trip ended, he asked her to marry him with only his Claddagh ring. The importance of family was instilled in Ed as he was raised in a small 3-bedroom house with his parents and 6 siblings. He tries to return to Ireland once a year and brings his family back when he can. He loves watching, playing, and coaching football (OK soccer) and has been a volunteer Treasurer for Norwood Youth Soccer since 2019. His favorite team is Manchester United, and his favorite US soccer team is the NE Revolution. Additionally, he enjoys woodworking and has a small woodshop in his basement at home. He and his wife have traveled extensively together through the years and have also brought their kids to places such as: Ireland (obviously), Mexico, Canada, Spain, and Dominican Republic. Once they find a place they like, they are known to go back. Ed in his own words: What do you like about working at SX so far? “I love how friendly everyone is since I only started last month. I love the collaborative spirit as well. I love the work, my team and everyone I have come into contact with here.”