REO Accounting Packages

By
Real Estate Mortgage Broker with REO Field Services of Texas

Does anyone have a recommendation for REO Accounting packages for a Real Estate Agency of mine they might pass along?

Basically what they are looking for is a way to track invoices, accounts recieveable & payable, and other activities specific to each property.

Thanks!

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Anonymous
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Anonymous #9
Anonymous
Erica Phillips

QuickBooks Pro has the features needed to track REO Reimbursements.  Until you get up to 15 or 20 properties, you will not notice if you have set up QuickBooks improperly -- there is just not enough data or work load for it to become confusing.  However as you increase in size, you do need to have QB properly set up.  At 50+ properties you will have receiveables of $30K to $70K from the Asset companies.  You will have more problems with delayed and lost invoices, or denied claims (submissions).  We have set up 100s of REO Brokers and are members of the QB Pro Advisors program.

QB Online does not allow the tracking and reporting features of QB Pro.  There are some free or inexpensive log in or remote programs that allow remote access.

You will want the Item List and Chart of Accounts set up properly in coordination to allow you to print receivables by Property, aging, a Profit and Loss by Property for closing to insure you have submitted all invoices, and allow you to apply payments to specific bills.  It is also important to set up QB so that one set of data entry prints your checks, creates your payables list and your A/P list to reduce data entry.  You can also track your checks that you are holding for reimbursement, eg the home repair checks.  Brokers that have 100 to 400 or more properties can not have any room for error in the set up due to the large volume of money and multiple staff members involved. At that point, the Broker needs clean data and proper reports to trust and manage the staff, so she/he can be managing the business and selling.

You can look for more information or help for the above at www.reobrokerturnkey.com, the REO Broker Turnkey for REO Brokers, or contact me directly for more information.

June 02, 2009 09:29 AM
Anonymous #10
Anonymous
darin

Need a service or individual that does REO accounting for N los Angeles (sfValley area)  thank you darinerickson@hotmail.com

July 13, 2009 07:34 PM
Anonymous #11
Anonymous
Assist Business Solutions

I'm a Quickbooks Pro Advisor with 15 years experience. 

One of my specialties is setting up Quickbooks to manage bank-owned properties / REO's for brokers.

Let me know if I can be of assistance.

Linda L.
Assist Business Solutions

www.assistbiz.com

August 16, 2009 02:12 AM
Anonymous #12
Anonymous
Erica Phillips

Our REO Turnkey for Quickbooks has a manual and the file already set up for you. It is the most inexpensive way to set up QuickBooks.  If other people think it is easy, than they either have natural talent, school of hard knocks, or really aren't using it correctly.  Of the hundreds of brokers who have purchased our set-up, we have only seen 2 that have got it right and didn't have to use our product (they did buy our manual, though, because it has more tips than they were using).

Please call us for our current discount promotional price, at 800-995-0308, in San Diego, CA.


Thanks!  www.reobrokerturnkey.com

June 07, 2010 08:20 PM
Anonymous #13
Anonymous
Eric

I'm looking for a good REO accounting bookkeeper in Dallas.  Know anyone - send them my way.

 

December 17, 2012 07:48 PM
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