CLIENT BACKGROUND
This accounting team had been manually compiling financial reports from Quickbooks, in-house Yardi, and third-party Yardi platforms used by its outsourced property managers. They sought a single source for their financial data and their internal and external reporting.

Challenges:

• Time-consuming financial reporting because of manual compilation of numerous data sources
• Account Tree Proliferation made daily accounting work complicated and error-prone
• Internal reporting on A/R and A/P aging was cumbersome
• Opportunities to enhance internal controls and elevate report quality

Our Impact:

Meissner’s data and accounting teams migrated a client’s data from Quickbooks and several outsourced Yardi platforms into the client’s Yardi database, resulting in a single source for accounting and reporting for this real estate developer/manager. Now, monthly, Yardi-to-Yardi data imports support accurate, timely reporting to investors and lenders.

• Streamlined financial reporting for easier conformity with GAAP
• Built foundation for more robust and detailed reporting to investors and lenders
• Integration of property performance data with financial data
• Time savings frees staff for higher level work
• Saved time and improved accuracy of daily accounting tasks

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