(February 14, 2012) — RealPage, Inc. (NASDAQ: RP), a leading provider of on-demand software and software-enabled services to the rental housing industry, today launched the latest release of its OneSite Accounting product.
OneSite Accounting Winter 2012 Release introduces new features aimed at improving the customer’s user experience and automating multifamily-specific accounting processes. These enhancements have been designed to reduce transaction entry time and eliminate manual tasks.
In this release, customers will have a new User Interface option that includes more intuitive menus and navigation designed to improve usability by making daily tasks more visible. A new report center centralizes reports across applications in a single location, and the improved bookmarking feature lets users return to favorite features within one click.
“The new report center lets users find and manage their reports in a more efficient way by enabling them to designate which reports are most important to them under a favorites section,” said Ranjeev Teelock, vice president of OneSite Accounting. “We believe the new interface included in the 2012 Winter Release is cleaner, more intuitive and simple to master — and our customers will love it!”
This release includes a new Management Fee module. This module enables customers to configure multiple management fee structures for their portfolios, automatically calculate necessary fees, and post them either as invoices in accounts payable or as general ledger transactions to record related income and expenses. This new feature eliminates the necessity of maintaining multiple Microsoft Excel files and manually keying transactions into the accounting system, which in turn eliminates user errors.
The Financial Analysis portal provides customers with a central repository for budget variance explanations and reports. Customers can compare monthly or quarterly performance against budget or forecast, provide explanations on specific account variances, and consolidate the explanations for financial reporting. The drill-down capabilities provide visibility to the transactions that made the accounts balance, and a robust workflow enables review and approval of the variance notes. In addition, an additional layer of security has been added that restricts authorized users to specific groups of accounts. This makes it possible to allow users at any level in the organization to participate in the variance analysis and reporting process without the risk of exposure to confidential account information.
The new Loan Maintenance module enables customers to define loan amortization schedules that match the schedules provided by lenders. The schedules are used to automatically generate the bills or GL entries with the correct principal, interest and any additional accruals and fees, eliminating the need to manually enter loan-related bills every month.
To schedule an interview with a RealPage executive, please contact Linda Graham at linda.graham@realpage.com or (972) 820-3518.
About RealPage
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on demand (also referred to as “Software-as-a-Service” or “SaaS”) products and services to apartment communities and single family rentals across the United States. Its on demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties; LeaseStar™ multichannel managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; YieldStar® asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property; Velocity™ billing and utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that are designed to reduce a community’s exposure to risk and liability; OpsTechnology® spend management systems that help owners manage and control operating expenses; and Compliance Depot™ vendor management and qualification services to assist a community in managing its compliance vendor program. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. RealPage’s MyNewPlace® subsidiary is one of the largest lead generation apartment and home rental websites, offering apartment owners and managers qualified, prospective residents through subscription, pay-per-lead and LeaseMatch pay-per-lease programs. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. For more information, call 1-87-REALPAGE or visit www.realpage.com.