By now, many companies have tried offshoring accounting operations, and it has become a common practice. The appeal of reduced costs and access to a global talent pool is hard to resist. However, due to the complexity of offshoring - especially for property accounting - many companies end up reverting back to onshore teams. Although
Without a solid plan, implementing Yardi Investment Accounting (IA) and Investment Manager (IM) can be a daunting task. From complex investment structures to transaction types, there is a plethora of moving parts that can create bottlenecks without effective management. If you're planning your IA or IM implementation, here are five key strategies to help streamline
To stay competitive in the property management industry, it’s crucial that your systems align with your long-term strategic plan. The most effective way to achieve this is by conducting both a Business Assessment and a System Assessment. These assessments provide valuable insights for strategic decision-making. They serve as invaluable roadmaps to success. Business Assessment The
RentCafe is a powerful property management tool that streamlines the rental process for both property managers and residents. However, convincing residents to adopt and consistently use RentCafe can be challenging, especially for Affordable and Senior residents as they may not have the technological knowledge or equipment to access RentCafe without support. This article provides a
The affordable housing industry has been navigating a dynamic landscape, marked by both challenges and innovative solutions. Last week, the Lynx team had the opportunity to attend the Spotlight on Affordable Housing session at YASC in San Diego, where a range of pertinent topics were discussed. The insights shared provided a glimpse into the collaborative
If you want to maintain balanced financial records and promptly address discrepancies, bank reconciliations (bank recs) are essential. But completing bank recs monthly can be a struggle for overwhelmed accounting departments. Yardi Voyager’s Bank Reconciliation feature is a powerful tool that can help. It efficiently matches most transactions and flags any reconciliation issues for unmatched
Are you still using Excel to calculate asset depreciation? If yes, you’re probably experiencing discrepancies in your financial reporting. Excel can be a great tool, but using it for tracking fixed assets is the software equivalent of getting stuck in the past. In order to efficiently track and manage fixed assets, you need something more
So after reading Part 1 and Part 2 of this series, you did your due diligence, and found the best consultants in the industry. They’re super knowledgeable, they’re great problem solvers, and they get things done. But building a solid business partnership with your consultant is an ongoing process. In order for a business partnership
In Part 1, we talked about how good Yardi consultants can be valuable business partners - even if bad ones make you want to run away screaming. But how can you tell a good consultant from a bad one? If you aren’t careful, you can find yourself halfway through a Yardi implementation, only to find
Have you ever had a partnership with a consulting firm that went horribly wrong? Do you now consider “consultant” to be a four letter word? If you do, you’re not alone. There are far too many consultants out there who don’t communicate, don’t deliver what was promised, and take no accountability for messing up your
