Carrollton, Texas—RealPage Inc., a provider of on-demand software and software-enabled services to the rental housing industry, launched the latest release of its OneSite Accounting product.
OneSite Accounting Winter 2012 Release introduces new features aimed at automating multifamily-specific accounting processes. These enhancements have been designed to reduce transaction entry time and eliminate manual tasks.
In this release, customers will have a new User Interface option that includes more intuitive menus and navigation designed to improve usability by making daily tasks more visible. A new report center centralizes reports across applications in a single location, and the bookmarking feature lets users return to favorite features within one click.
This release includes a new Management Fee module. This module enables customers to configure multiple management fee structures for their portfolios, automatically calculate necessary fees and post them either as invoices in accounts payable or as general ledger transactions to record related income and expenses. This new feature eliminates the necessity of maintaining multiple Microsoft Excel files and manually keying transactions into the accounting system, which in turn eliminates user errors.
The Financial Analysis portal provides customers with a central repository for budget variance explanations and reports. Customers can compare monthly or quarterly performance against budget or forecast, provide explanations on specific account variances, and consolidate the explanations for financial reporting. The drill-down capabilities provide visibility to the transactions that made the accounts balance, and a robust workflow enables review and approval of the variance notes. In addition, an additional layer of security has been added that restricts authorized users to specific groups of accounts. This makes it possible to allow users at any level in the organization to participate in the variance analysis and reporting process without the risk of exposure to confidential account information.
The new Loan Maintenance module enables customers to define loan amortization schedules that match the schedules provided by lenders. The schedules are used to automatically generate the bills or GL entries with the correct principal, interest and any additional accruals and fees, eliminating the need to manually enter loan-related bills every month.