What is Realtyzam? What are its features and benefits?

Realtyzam is a cloud-based accounting software designed specifically for real estate professionals. It offers a variety of features to help real estate agents and brokers track their income and expenses, manage their clients, and prepare for taxes.

In today’s rapid real estate environment, access to precise and current data is not a convenience; it is a necessity. If you’re an agent, investor, or individual, it’s this type of data that is critical to your decision on whether to buy or sell a home. This is where Realtyzam comes in.

Realtyzam is a robust application that has been built to provide full real estate data and analytics. Sourcing information from multiple outlets provides users with a complete environment for market insights, property information and valuation, and tools. Think of it as a comprehensive resource for all things related to real estate data.

Features of Realtyzam accounting software:

• Bank reconciliation: Realtyzam can automatically download your bank statements and reconcile them with your transactions. This can assist you in ensuring that your records are accurate and up-to-date.
• This feature executes the automated comparison of your internal records with your bank statements. Realtyzam is likely to establish a direct connection to your bank accounts, ensuring that the necessary security measures are in place to download transactions.
• This software then compares the transactions that have been downloaded with the entries that have been entered by the user. This ensures that your records are accurate and current by identifying discrepancies, such as absent transactions, bank errors, or uncleared checks. In comparison to manually reconciling accounts, this feature provides huge savings in time.
• Invoice entry: Realtyzam makes it easy to enter invoices and expenses. You can either manually enter them or import them from a CSV file.
• Customize invoice templates to reflect your organization.
• Whether you are migrating from another system or have a higher number of invoices at hand, importing the invoice data from a CSV file is quite helpful.
• Status of invoices (sent, paid, delinquent).
• Electronic invoicing and transmission, maybe even via email.
• Expense reporting: Realtyzam can help you track your expenses and generate reports. You can use this information to determine where you can make cost savings.

• This tool helps organize and monitor business expenses. Realtyzam will likely enable you to:

  • Expenses are recorded and categorized (i.e., marketing, travel, office supplies).
  • With autopilot, you can create reports summarizing these expenses over various periods (monthly, quarterly, annual, etc.).
  • Examine expense trends to identify areas of cost savings. This includes the representation of spending in charts and graphs.

Accounts payable and receivable tracking:

• Realtyzam can help you track your accounts payable and receivable. This information can be used to ensure that you are paid on time and that you are not overspending.
• For example, you will need to keep track of how much money you owe to vendors (accounts payable) and the due dates for those payments.
• Keep track of how much clients owe you (accounts receivable) and the due date for their payments.
• Provide reports on overdue invoices and payments. This helps keep track of your expenses to ensure you don’t miss any of your payments. Likely it has notifications about payments that are overdue?
• Budgeting: Realtyzam can help you to create and manage budgets. This can help you stay on track financially.

• Create other budgets, like marketing or operational budgets.

• Get your budget out and compare it to your actual income and spending.

• Identify variances (the differences between budgeted and actual amounts) and investigate the reasons for variances. This makes it easier to manage finances and make projections.

• Financial reporting: Realtyzam can generate a variety of financial reports, such as income statements, balance sheets, and cash flow statements. These reports can be used to track your financial performance and identify areas where you can improve.

• Income Statement (aka Profit & Loss Statement): Shows net income (or net loss), expenses, and income during a specific period.

  • Balance Sheet: Provides a snapshot of your equity, liabilities, and assets at a specific point in time.
  • Cash Flow Statement: Tracks cash inflow and outflow from your business during a given period.
  • These reports are crucial to understanding your financial situation, making informed decisions, and possibly securing financing.

Integration with other real estate software:

• Realtyzam can be integrated with other real estate software, such as CRM and property management software. This can speed up your process and help you save time.
• CRM (Customer Relationship Management) software: For managing customer data and keeping track of sales activity.
• Property Management Software: To manage rental homes, track tenants’ payments, and handle accounting tasks related to this.
• This integration reduces errors and can help eliminate manual data entry by automating the movement of information between systems.

Benefits of using Realtyzam accounting software:

• Save time: Realtyzam can automate many of the time-consuming tasks involved in accounting, such as bank reconciliation and invoice entry. This can free up real estate professionals to focus on other aspects of their business.
• Improve accuracy: Realtyzam’s automated features can help to reduce human errors in accounting. This is important for maintaining accurate financial records and avoiding costly mistakes.
• Get insights: Realtyzam’s reporting features can help real estate professionals track their financial performance and identify areas where they can improve. This information can be used to make better business decisions.
• Stay compliant: Realtyzam is designed to help real estate professionals stay compliant with accounting regulations. To avoid fines and penalties, this is crucial.
• Tax and other regulatory obligations: Generally Accepted Accounting Principles (GAAP) require keeping accurate and up-to-date financial records. Realtyzam will help you to keep the necessary documents and create reports for your tax preparation, and it will help you minimize the chances of facing penalties & fines. This is especially important in real estate, which often follows specific accounting rules and principles.
• Enhanced Negotiation: If you have access to market trend and saturation data, as well as comparative sales data, you will be in a better position to negotiate favorable arrangements.

If you are a real estate professional, I recommend considering using Realtyzam accounting software. It can help you to save time, improve accuracy, and get insights into your financial performance.