Tatjana Day Director of ManageMe looks at the real cost of employing staff.

Daily Receipting Overview

Trust accounting which includes Daily Receipting of rent and utilities, is a key process in ensuring that accurate records are maintained by a Property Management company. The result being that the  bank account used for handling payments and receipts on behalf of owners and tenants is reflected correctly in the trust account property management software. 

Daily receipting tasks include;

  • Importing the bank files 
  • Downloading and identifying the unmatched transactions
  • Creating manual receipts for tenants and owners
  • Allocating money to “Withheld Funds” 
  • Receipting and assigning “Unknown Funds”
  • Daily Reconciling of your bank account

It sounds like a tedious process – well it definitely is! It’s also  time-sensitive and repetitive as it should be done every single day. 

Often the Trust Administration process falls under the Administrator’s role within a Property Management Business. It can be painful and time-consuming when confronted with issues and is a difficult task to cover when your Administrator goes on leave or is off sick. 

    How We Can Help Manage Your Daily Receipting

    ManageMe have staff that are already trained in Trust Administration tasks minimising the time taken to onboard, train and implement.  You can have confidence that the work we undertake on your behalf will be completed to a high standard. 

    We work across multiple Trust Administration Systems including the main players in the Australasian market, Palace, Property Tree, Property Me and Console.

    ManageMe can help your company from importing bank files to reconciling your bank statements, assuring you that your book is accurate and always up to date.

    As a “managed” service when complexities arise they can usually be escalated and sorted out “in house” leaving you with less to worry about.  See more advantages of using a Managed Service over a traditional Virtual Assistant, https://manageme.co.nz/differences-between-a-managed-service-and-a-virtual-assistant/

    Free yourself from this high volume repetitive task and get time back to focus on your rent roll growth or building stronger relationships with your clients. 

    Why Manage Me?

     

    • We have skilled and competent staff that are already trained in many Property Management Trust Administration systems, this greatly reduces the hand holding period required with new staff.
    • No need to worry about staff cover for core tasks. As a managed service we are task focused and always have someone to cover your contracted services.
    • With a single task to focus on and no distractions we can complete Trust Administration tasks on time every time. 
    • Reduce your company’s expenses! No need to hire a full-time staff and spend money on office equipment and other overheads related to employment. See our article on the real cost of hiring staff, https://manageme.co.nz/what-is-the-real-cost-of-employee/
    • We are flexible with working hours to meet your demands. 

    Take advantage of the available resources in the pursuit of profitability. As they say “two heads are usually better than one”, stop juggling too many things on your own, identify the day-to-day tasks you can outsource, focus on your rent roll goals and let ManageMe do the rest for you. 

     

    If you feel that your business is ready to hire and you are considering outsourcing as an option get in touch.