Vacation rental management software provider 365Villas has launched a significant expansion to its accounting package in an attempt to dominate this notoriously difficult aspect of property management.
The PMS already had accounting features but the latest extensive innovations to its Integrated accounting platform have unlocked some of the most advanced tools in the industry. They’ve been specifically designed to be scalable and intuitive enough for operations of all sizes in any jurisdiction, whether they’re an enterprise, an agent, owner or combination of both.
The latest tools span the full range of revenue tracking, expense management and workflow improvements. New functionality includes:
- a unified revenue report that makes it easier to monitor financial performance
- profit & loss visibility for agents across their entire business, not just per portfolio
- new tax insights and reporting, for better tracking and reconciliation of taxes
- handling retained funds for cancellations or damage
- handling channel fees
- simplified expense organizer with enhanced tracking & allocation
- one-click breakdowns of any expense or revenue line item
- streamlined report-building tools
- external revenue tool to absorb local referral fees or commissions from other agents
Most PMS providers lack substantial accounting tools, forcing many property managers to seek other platforms. The improvements 365Villas has made mean even enterprise clients using generic software such as QuickBooks and Xero will find the integration increases visibility and saves time.
Dave Payette, founder and CEO of 365Villas, said: “Not every PMS offers accounting tools and the variation in quality is as wide as it gets. The reason is that they’re incredibly intricate. It’s very difficult to build an integrated, robust accounting system that pleases everyone and caters to all the different use cases and custom needs that are out there. Finally, we think we’ve achieved a massive breakthrough, and one that will set us apart from our competitors. This is the sort of functionality that makes any PMS a must-have and we’re already getting a fantastic response.”
For more information on 365Villas full suite of integrated solutions for vacation rental property managers, visit www.365villas.com.
