For several months now, MYRE has made it possible to combine property management and financial management of real estate investments. Let's take a closer look at one of the key functions of sub-ledger accounting: expense management.
MYRE allows you to accurately record supplier expenses, enabling you to manage assets and provide a true picture of expenses at all times. Several MYRE-specific innovations have been developed to facilitate this time-consuming process.
MYRE, in addition to being a financial management platform for real estate, is also an auxiliary accounting tool, a single platform for everything. For example, all supplier expenses can be recorded in MYRE, enabling precise monitoring of expense lines. Expense budgets and landings are automatically updated.
New features: faster, simpler expense management
Expense management is carried out directly in an area dedicated to managing the structure. The platform's ergonomics make it easy to read expenses, so you can instantly see the assets associated with each expense.
MYRE really saves time when entering expenses, by enabling a single entry line to be used for expenses relating to several properties and/or tenants from the same supplier.
As for rebilling expenses to tenants, allocation keys are set up in advance. As many keys as required can be created to define the share to be paid by each tenant for each expense line. All that remains is to indicate whether the nature of the expense is recoverable or non-recoverable for each line.
Let's take the example of a landlord who receives a global invoice from a single supplier for elevator charges for several of his properties.
Thanks to MYRE, the manager can record a single expense line and break it down by building, then automatically by tenant. He can also indicate whether the nature of the expense is recoverable or non-recoverable. Thanks to a set of allocation keys, tenants can pay a share of the expense according to building and floor occupied, for example. Finally, the manager can easily view the information entered and identify the assets associated with the expense.
