MYRE is upgrading its property management tool with a real-time supplier expenses and disbursements follow up, so your budget updates itself automatically.
The same issue tends to crop up in Real Estate management: there are often double data entries when recording expenses and disbursements. The accountant saves these entries in an accounting system and then a Property Manager transfers them periodically to a Property Management system. This can have several negative consequences including a greater risk of errors, out-of-sync expense and budget follow up and not knowing which entry was right in the first place.
MYRE has designed an all-encompassing management tool so you can accurately enter expenses and disbursements and monitor your budget follow up automatically.
How does MYRE help you follow your budgets and expenses?
This new feature by MYRE sync Property Management to subledger accounting with a single platform.
As you know, MYRE is a collaborative tool. The accountant or Property Manager can enter expenses or disbursements straight on MYRE from different accounts. The Property Manager can then instantly:
- Link each expense to the service charge item and distribution key
- Reinvoice tenants or not, depending if the expense is recoverable
- Disburse expense entries and track supplier invoice payments and outstanding payments
- Enjoy real-time budget tracking
MYRE is a go-to accounting subledger tool that can then flow into general accounting. This flow requires a specific plan as it has to be based on each company’s own accounts system.
