Cloud-based accounting: two basic considerations

Any suggestions?

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I'm looking to migrate a property investment company to a cloud-based solution. Two seemingly basic requirements are:

1) Direct debit payment of the subscription: the company has no credit card to pay for e.g. Xero, and no appetite to pay from a personal card.

2) Commercial property rent demands: it would be useful to use a bespoke app for managing quarterly rental demands.

Any suggestions - would Quickbooks + a property app do the trick?

Replies (5)

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By WhichTyler
15th Nov 2018 16:20

Seriously why is 1) an issue?

the cost of a company credit card is tiny compared to the annual cost of software, let alone a bespoke property add-on
I'd concentrate on finding as solution that does the job, then worry about paying for it...

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By scottwright94
15th Nov 2018 18:47

Albeit only with 1 client I’ve found Xero’s recurring invoice function good for a property rental company. Specifically the placeholder function for the description which allows you to specify the time period that the rent covers (i.e. the description changes with each new invoice). It’s pretty easy to setup.

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By the_drookit_dug
15th Nov 2018 21:37

The software it's being migrated from has a really good property management function - I agree though that recurring invoices may be the way to go here.

I agree that the credit card payment thing shouldn't be a deal clincher, but if Quickbooks can offer D/D, why not Xero?

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By ireallyshouldknowthisbut
16th Nov 2018 10:24

Why would you migrate away from bespoke software into a generic?

I deal with a lot of property business, and whilst you can make Xero do it (the recurring invoices with stop dates make it quite natural for rent demands against lease terms), its much worse than using a bespoke programme unless its 1-2 properties and the costs are exorbitant.

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AccountsIQ
By AccountsIQ Marketing
22nd Nov 2018 11:04

AccountsIQ might be able to help - Hibernia REIT use the software and have it integrated with Landmark, their property management software https://accountsiq.com/case-studies/hibernia-reit/

and no 1) isn't an issue

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