The End of Financial Year is almost upon us. As with most time consuming exercises, the key is to be well prepared. Discover how a growing number of property managers nationally are reducing EOFY stress in their offices by working smarter, not harder.
It’s no secret that the role of property manager is a busy and varied one. Unless you work in an office with a large property management team where each individual has a specialised role, you probably wear a number of hats. Is it any wonder that independent studies on the state of wellbeing in property management have revealed that more than 60% of property managers are suffering from stress with 35% seeking medical advice for their stress?
The End of Financial Year places additional demands on property managers. On top of your normal duties you need to:
- Preview all EOFY statements, identifying and amending any transactional errors as you go,
- Reconcile the accounts,
- Back up your data,
- Conduct a stocktake, and
- Create EOFY statements, including tax payment summaries and submit those to your owners.
The number one way to reduce stress on the job in property management, at EOFY and throughout the year, is to automate tasks.
Here’s some tips for Maintenance Manager users to help with EOFY:
- Make sure the integration between Maintenance Manager and your trust system is active
- Take advantage of the trust reconciliation screen and review the error queue if anything appears in there
- Utilise approved payments to get an export of all invoices if needed and these can be filtered by trade and other options
- Make sure a super user is viewing as all properties so that they know all invoices have been approved
- Accounts payments section holds receipts for all payments the agency has made for Maintenance Manager
- The bulk correspondence feature can be used to send email communications if needed
Support are here to help, so if you have any questions or want assistance contact us