You can try Property Master™ by clicking here or learn more about our accounting features below.

We add new accounting features for free every couple of weeks, so if you don't see what you're looking for here, contact us through the Live Chat system. We may have already added your feature, or it might be coming.

Accounts Receivable

You can record Accounts Receivable through the General Journal, but Accounts Receivable will more typically be rent payments that are due. Property Master™ includes separate A/R and Tenant Rent Status reports.

Accounting Reports

Property Master™ includes more than 20 Accounting reports among its total of more than 50 reports. These reports include a Balance Sheet, Bank Reconciliation, Chart of Accounts, A/P and A/R, and many others. All reports can be exported to Excel or PDF format.

You can see the entire list of reports by clicking here.

Bank Accounts

Create bank account records tied to ledger Asset accounts. A bank account can be designated for a single Property or for all Properties owned by an Owner.

Bank Reconciliation

Run the Bank Reconciliation report to compare transactions recorded in Property Master™ to your bank statement and make corrections. It's just one of nearly 50 Property Master™ reports.

Cash or Accrual Basis

When you create an Owner in Property Master™, you can choose between Cash or Accrual Basis accounting. In either case, Property Master™ will set up a Chart of Accounts for you. The Accrual Basis Chart of Accounts has Liability and Accounts Receivable accounts and you can record liabilities and accrued income. The Cash Basis Chart of Accounts does not have these accounts and features. Most of our customers choose Accrual Basis for a better understanding of their financial position.

Chart of Ledger Accounts

The standard Accrual Basis Chart of Accounts has more than 100 ledger accounts; the standard Cash Basis Chart of Accounts has more than 75 ledger accounts. You can view accounts by type (Asset, Liability, Income, Expense, and Equity), add or remove accounts as needed, and quickly "drill down" to see details of each account. You can also set an Initial Balance for any ledger account.

Check Writing

Write and print checks directly from Property Master™, using check forms provided by our check form partner, Relyco of Dover, New Hampshire. Our standard BC301 check form comes in a variety of colors and includes a tear-off stub you can keep for your records, along with excellent security features to prevent duplication.

To print checks with blank check forms, you will need a laser printer and special magnetic ink cartridge. However, you can also order preprinted BC301 forms from RelyCo and print specific checks through Property Master™.

Click here to see a sample check.

Check Register

The Check Register is the simplest way to record expenses and deposits in Property Master™. The Check Register shows all transactions involving the selected Bank Account. For each check written or deposit made, select one or more matching Ledger Accounts to balance the transaction. Checks can be printed multiple times and can also be voided.

Complex Ownership Structures

In Property Master™, all Properties are owned by Owners. An Owner can itself have multiple Owners. This makes it easy to set up complex ownership structures; for example, several people can own an Owner company which is a partner in another Owner company, which owns Properties. Accounting reports will reflect ownership structures.

Expense Entry

Create Expenses, which may be tied directly to Properties. Expenses may also be recorded as Liabilities; in such cases, instead of an Asset account being credited, a Liability account is credited. Property Master™ incorporates a variety of Expense reports as well. All Expenses are actually stored in the General Journal and a history of expenses can be viewed there.

General Journal

All transactions are stored in the General Journal, although they may be created through Expense Entry, Check Register, Tenant Rent Status, or other means. You can also create transactions in the General Journal. It's the best tool for complex transactions involving more than two accounts. There is also a General Journal report.

General Ledger

Property Master™ includes General Ledger detail and summary reports. Reports show information about each ledger account. The Detail report also shows each transaction for the period you specify.

Late Fees and Charges

Set up late fees and charges in the Tenant Rent Status section and apply the appropriate credits to pre-set ledger accounts.

Loans and Payments

Create adjustable or fixed-rate loans for your properties, or create loans that are not tied to properties. For each loan, Property Master™ will set up an amortization schedule showing when each payment is due, along with the payment amount, amount going to interest, amount going to principal, and remaining principal. When you record a payment, the system automatically applies the correct credit amount from an Asset ledger account and correct debit amounts to mortgage interest and principal.

Tenant Rent Status

Create custom or standard rent schedules for each Tenant. The rent schedules can be based on monthly payments or any other payment period. You can also create a completely custom payment schedule. The first and last periods can be pro-rated. Every rent payment you record after that will automatically update not only the correct Income and Asset accounts but the Tenant's rent status; prepaid (positive balance), late (negative balance), or current.