Setting up financial system for multiple companies combined with a property management software

Discussion in 'Property Tax and Accounting' started by dikla, Mar 7, 2019.

  1. dikla

    dikla New Member

    I need advice on how to set up the financial system for a group of companies dealing in property investment. Each company is holding a property (rental or a property being developed). There is a need for property management software for dealing with the lettings side and rent collection and of course accounting software.

    Does anyone have experience with 'Arthur' which links with Xero? If so, as this will link to a particular Xreo account there would be a need to journal income charged from this main Xero file to the individual companies who own each property. Is the a smarter solution for this?

    Also any advice on consolidation software that can allow overview of the whole portfollio? Which one is recomended and what can (or can't) it do? Any input on 'Fathom' or 'Datadear'?

    I am completly unfamiliar with the sector and might not have a good picture of the issues I need to consider, so would welcome anyone's experience and knowledge.
  2. lookinginvest

    lookinginvest Member

    Hi @dikla

    How many properties will you be looking after?
  3. Longterminvestor

    Longterminvestor Administrator

  4. dikla

    dikla New Member

    Hi @lookinginvest
    You have asked how many properties I will you be looking after.

    I am not sure yet. I think 8 companies for rental properties with one holding several properties. Few more companies holding development properties.
  5. Simon_Misiewicz

    Simon_Misiewicz New Member

    Xero will connect with Arthur Online, QuickBooks also does the same job but at less money.

    Arthur is very good at sending information to both systems see here:

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