Real Estate Accounting

General Ledger

LEAD™’s integrated real-time general provides a complete enterprise, entity and department level financial reporting system. Simultaneous cash and accrual accounting methods produce both financial statements and detailed ledgers. You can maintain entities as independent ledgers or as individual profit centers in an overall enterprise structure. LEAD™ provides a wide variety of standard and custom general ledger reports.

Cash Management

LEAD™’s real-time bank book allows you to keep up-to-date balances in each checking account and maintains a detailed audit trail. You can easily reconcile bank statements, research checks and deposits, and produce 1099 forms for eligible vendors. You can see how payments or deposits involving invoices from multiple entities affect each individual entity’s bank accounts. Bank book provides a way to enter cash-related transactions in the form of check and deposit journal entries. These entries can be applied to projects as well as G/L accounts. The real-time bank balance is display on any screen that the bank balance is affected.

Accounts Payable

LEAD™ makes it easy to enter invoices and contract invoice draws that provides a powerful tractable audit detail. Draw invoices can be entered through the contract management module or directly into accounts payable for non-contract invoices. LEAD™ is designed to handle the complicated, detailed situations that occur in property management and development related businesses. It allows for easy correction of data, duplicate invoice detection and disbursement control. LEAD™ provides the flexibility and appropriate security controls to correct accounts payable transactions by “undoing” problems, which eliminates the endless correcting journal entries that many other systems require. All invoices are posted to the real-time general ledger.

LEAD™ supports laser MICR check for automatic check writing from accounts payable and payroll. MICR checks can be printed to pre-formatted or blank check stock. If you are writing checks from multiple accounts, constant reloading of check stock into your printer can be eliminated with the use of MICR checks. With LEAD™, there is no extra software or hardware to purchase, since the MICR fonts and the ability to print MICR checks is all included.

Accounts Receivables

Accounts receivable allows you to enter, and maintain customer invoices and allocate them to the general ledger and to project. LEAD™ can set up and process invoices that recur over a specified time span. Contract billing draws result in customer invoices being added to accounts receivable. Corporate receivables can be easily maintained directly without the burden of using property management.

Financial Reporting

Our “date sensitive” system allows you to go back to previously closed accounting periods to adjust—with appropriate access controls. This can relieve the stress of period and year-end closings. You can adjust a prior year and update the current year opening balances. All reports support drill-down and drill around functionality that enable you to access the information you need from one financial report.