Searching for the best real estate accounting software for your business?

Save yourself time and stress. We’re here to help you find the right real estate accounting software solution for your work.

What is real estate accounting software?

Real estate accounting software is the driver that enables the performance monitoring, performance data analysis, and reporting and dashboards. In addition to traditional accounting software features, these systems offer new easy-to-use efficiencies for closing real estate sales, logging the sale info in a database for future analysis, and calculating and distributing commission.

What 5 key Real Estate Accounting Software features should I look for?

Communication and contract tools

Automatically generate and customize templates for contracts and communications with buyers, sellers, other agents, investors, banks, brokers, title companies, and other invested parties.

Real estate property development management

Monitor on the progress of all new development projects, residential and commercial, as well as property renovations for individual homes. Enables real estate managers to project upcoming capital from sales for new developments.

Mobile access

Ensures that you can get access from anywhere. Some real estate accounting systems include an accompanying app for iOS and Android while others are simply compatible with mobile browsers.

Commission calculation

Helps you easily and automatically calculate agent commissions and fees. Can also monitor annual commission generated by individual agents for salary capping, extended pay outs etc.

Work order management

Uses your system to monitor the status of property repairs and upgrades. Tracks time, materials, and other resources accordingly to gauge overall cost of each work order.

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Showing 1 - 20 of 97 products
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Showing 1 - 20 of 97 products

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is an enterprise resource planning software with primary features such as real estate management, human capital management, environmental health and safety and commodity trading. What is JD...Read more

4.13 (136 reviews)

3 recommendations

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Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more

4.17 (312 reviews)

17 recommendations

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OASIS

OASIS by Intellitek is a full-featured ERP solution that is a great solution for overall Supply Chain Management. It features several important applications, such as Supplier Management, Procurement, and Transportation Management....Read more

3.43 (7 reviews)

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NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

No reviews yet

21 recommendations

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BizAutomation

BizAutomation is an ERP solution suitable for any industry. At the core of the system is intuitive and integrated functionality for Customer Relationship Management, and Financial Accounting. The system is delivered as a SaaS....Read more

4.88 (26 reviews)

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Multiview ERP

Multiview Financials is the flagship ERP system developed, sold, implemented, and supported by Multiview Financial Software. Multiview is designed for organizations ranging in size from rapidly growing small businesses to large en...Read more

4.40 (10 reviews)

16 recommendations

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Infor CloudSuite Financials

Infor CloudSuite Financials is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the cloud. It deliver...Read more

3.36 (7 reviews)

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Xero

Xero is an accounting system designed for small and growing businesses. Xero connects small businesses with their trusted advisors and provides business owners with instant visibility of their financial position. As a web-based so...Read more

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NolaPro

We recommend NolaPro by Noguska, LLC to companies of all sizes looking for a system that's easily customizable, and offers a variety of key accounting features, including Reports, General Ledger, Payables Lists, and more. ...Read more

5.00 (3 reviews)

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MultiLedger

First introduced in 1986, MultiLedger by CheckMark Inc provides a fully integrated, comprehensive suite of accounting software for small to mid-size businesses. It merges billing & invoicing, inventory management, job tracking, ex...Read more

1.00 (1 reviews)

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Software pricing tips

Read our Real Estate Accounting Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Access Financials

Our financial management software is rich in functionality, delivering a full suite of financial management modules and core and advanced functionality. More importantly, our solution automates many core accounting processes, maki...Read more

4.00 (1 reviews)

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Accounting Xpert

Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank r...Read more

4.69 (36 reviews)

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Infor SunSystems

Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. Offered in multiple languages and currencies, and available for both cloud and on-premise deployment, SunSystems is suite...Read more

4.14 (7 reviews)

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AccountEdge

AccountEdge's banking tools allow users to send and receive money, prepare bank deposits and electronic payments, print checks and reconcile accounts. The system's purchase order feature allows users create and track purchase orde...Read more

4.37 (86 reviews)

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Rerun

Rerun is a standalone billing and invoicing solution designed for small to midsize businesses in the United States and Canada. With Rerun, users can customize payment streams and set up recurring billing, track account activity an...Read more

4.50 (6 reviews)

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MineralTree Invoice-to-Pay

MineralTree’s TotalAP accounts payable automation solution digitizes and automates the entire invoice-to-pay process to make paying your suppliers easy, impactful, and profitable. Our cloud-based accounts payable solution can scal...Read more

4.37 (78 reviews)

3 recommendations

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Infor Cloud ERP

Infor Cloud ERP is an enterprise resource planning solution that helps businesses in many industries with finance and accounting, supply chain management, planning and scheduling, project management, and customer and order managem...Read more

3.60 (5 reviews)

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TallyPrime

TallyPrime provides business functionalities including accounting, finance, inventory, sales, purchase, point-of-sales, manufacturing, job costing, payroll, and branch management. The accounting module enables support tasks such a...Read more

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Zoho Books

Zoho Books comes with automatic bank feeds, collaborative client portal, accounting and taxing, online payments, invoice templates and analytical reports. The system allows users to manage multiple time sheets of different project...Read more

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Wave Accounting

Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses...Read more

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Popular Real Estate Accounting Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

The real estate industry is in many ways not very different from other sales/commission-based businesses. A real estate agent’s work and performance are highly-monitored to pinpoint efficiencies and potential inefficiencies that can be improved upon. Likewise, real estate agents are awarded commission for their success just like inside/outside sales associates.

Real estate accounting software is the driver that enables the performance monitoring, performance data analysis, and reporting and dashboards. In addition to traditional accounting software features, these systems offer new easy-to-use efficiencies for closing real estate sales, logging the sale info in a database for future analysis, and calculating and distributing commission.

We've put together this buyers guide to highlight the features and trends you need to keep in mind when evaluating new accounting software for your real estate business.

Here's what we'll cover:

What is real estate accounting software?

Specifics for the real estate industry aside, general accounting software offers various applications and features for monitoring and managing financial happenings within an organization. At its most basic offering, accounting software should typically include the following capabilities:

  • Bookkeeping/general ledger
  • Accounts receivable and payable
  • Payroll and commissions
  • Bank reconciliation
  • Reporting and analytics

These are common features found throughout most all accounting software. They enable users to more easily and accurately review, monitor, and predict costs and expenditures of the organization at large as well as individual business units and even employees.

Real estate accounting software offers these same capabilities, but it has more specific features and benefits tied to the housing industry. For example, with accounting software for realtors, it’s easy to securely share key business information with realtors, home owners, and other interested parties wanting information about their investments.

In addition to a robust set of features and functionality, real estate finance software helps you monitor the progress of ongoing development projects and property maintenance. Financial information can be grouped by property, development or unit. These back office capabilities are a key value-add for the various real estate accounting software vendors.

Common features of real estate accounting software

In addition to core capabilities of traditional accounting software, these real estate-specific systems typically include the following features:

Communication and contract tools Automatically generate and customize templates for contracts and communications with buyers, sellers, other agents, investors, banks, brokers, title companies, and other invested parties.
Real estate property development management Monitor on the progress of all new development projects, residential and commercial, as well as property renovations for individual homes. Enables real estate managers to project upcoming capital from sales for new developments.
Mobile access Ensures that you can get access from anywhere. Some real estate accounting systems include an accompanying app for iOS and Android while others are simply compatible with mobile browsers.
Commission calculation Helps you easily and automatically calculate agent commissions and fees. Can also monitor annual commission generated by individual agents for salary capping, extended pay outs etc.
Work order management Uses your system to monitor the status of property repairs and upgrades. Tracks time, materials, and other resources accordingly to gauge overall cost of each work order.

Benefits and potential issues

The primary benefits of adopting a financial management systems for your real estate business are crystal clear. These accounting systems offer better visibility around where your money comes from and where your money goes. This transparency into your costs and expenditures leads to more informed, financially responsible decision-making.

In addition, systems can generate a plethora of easily understood reports in a variety of ways to summarize this information cleanly for the right audience. Many systems also offer actionable dashboards that provide even greater ease for understanding the key takeaways from data analysis.

While the benefits of real estate accounting systems are widely apparent, there are a number of issues that should be considered as well. Many real estate accounting and financial software include most of the back office capabilities previously described, but not all systems do. Those that don’t will need to integrate with existing customer relationship management or other relevant software.

Another potential issue you’ll want to keep in mind when selecting your accounting software is scalability. Where do you see your real estate company in 2 years? 5 years? If you are projecting a lot of growth for your organization, you’ll want an accounting system that can scale with you. In other words, you’re accounting system should easily add information on properties and offer a quick way to look up existing and previously sold property data. The same is true for a database of employees/agents, contractors, home buyers, and other invested parties. You’ll want to easily access and draw references from these databases for future use.

Evaluating real estate accounting software

With all these features and benefits and potential issue associated with real estate accounting programs, it's crucial that you all the right questions when evaluating your new system. Putting in the extra time is definitely worth it. Finding a great system can streamline many of the essential day-to-day tasks, which frees up extra time to spend with current or prospective home buyers or for other strategic work. Having more time to focus on customers will serve to help improve the quality of service and customer experience you provide home buyers. This goes a long way in retaining customers and gaining referral business from customers' friends and family.

The system can automatically send email notifications to agents, calculate commissions, and generate listing forms and welcome letters. Well-organized solutions can also record and sort all transaction information for a given contract.

When evaluating these systems, buyers should consider the following:

  • Does it need to be able to support several different agent pay rates?
  • Does the user need a system that can handle a high variety of properties?
  • Should the program include online communication tools?
  • Does the user handle many different transactions on a regular basis?