Realtyzam Accounting Software is a cloud-based solution specifically designed to meet the financial tracking and accounting needs of real estate agents and brokers. Here’s an overview of what the product does and its key features:
What Realtyzam Does
Realtyzam is tailored to help real estate professionals manage their financial activities efficiently. It enables users to track income and expenses, manage client information, prepare for taxes, and generate various financial reports. This software aims to streamline accounting tasks, reduce manual data entry, and improve financial accuracy and compliance.
Key Features and Functionality
Bank Account and Card Integration
Realtyzam allows users to connect their bank accounts and credit cards from over 15,000 financial institutions. This integration enables automatic downloading and categorization of transactions, eliminating the need for manual data entry and reducing errors.
Expense Tracking
The software includes a dedicated Expenses section with pre-built categories commonly used by real estate agents, such as capital equipment, mileage, meals and entertainment, and owner withdrawals. Users can also create custom categories to keep their finances organized. Receipts can be uploaded and linked to specific transactions, making it easy to retrieve them later.
Income Tracking
Realtyzam provides an Income tab where users can track their earnings from clients or deals. Income can be categorized into default sections like commissions, miscellaneous income, and referrals. Income data can be input manually or pulled directly from linked bank accounts.
Financial Reporting
The software generates various financial reports, including profit and loss statements, balance sheets, cash flow statements, and reports on commissions, buyer and seller conversion rates, and lead sources. These reports can be filtered by date and presented in different views such as list view, summary view, and monthly view.
Centralized Dashboard
Realtyzam features a centralized dashboard that provides a quick overview of financial activities. The dashboard includes key menus for sales activity, income, expenses, and reports, allowing users to monitor their financial performance at a glance.
Document Uploads and Management
Users can upload bank statements, receipts, and other relevant documents, which can be assigned to specific transactions for easier tracking and reporting during tax season.
Mileage Tracking
The Realtyzam mobile app allows real estate agents to track their driving expenses and log them into the system for accounting and tax reporting purposes.
Budgeting and Accounts Payable/Receivable
The software helps users create and manage budgets, as well as track accounts payable and receivable. This ensures timely payments and avoids overspending.
Tax Preparation
Realtyzam simplifies tax preparation by generating the necessary reports quickly. Users can print out these reports and provide them to their accountants or tax professionals, making the tax filing process more efficient.
Mobile App
Realtyzam offers a mobile app available on both Google Play and the iOS App Store, allowing users to manage their finances, upload receipts, and track expenses on the go.
CRM Module (Optional)
While the primary focus is on accounting, Realtyzam also offers a CRM module (available with a separate subscription) to help users store and manage client information, record notes, save documents, and track sales activity.
Benefits
- Time Savings: Automates many accounting tasks, such as bank reconciliation and invoice entry, freeing up time for other business activities.
- Improved Accuracy: Reduces human errors through automated features, ensuring accurate financial records.
- Insights: Provides detailed financial reports to help users track their performance and make better business decisions.
- Compliance: Helps users stay compliant with accounting regulations, avoiding fines and penalties.
Overall, Realtyzam is designed to be user-friendly, intuitive, and highly efficient, making it an ideal solution for real estate professionals looking to streamline their financial management.