Advanced Financial Functionality -
Streamlined Express Charge Entry Delivers
Significant Time and Cost Savings to Customers
Virtual Premise Speeds Customers' Ability to Work with
Lease-Based Charges
Real estate departments that utilize advanced financial functionality need to significantly improve their ability to work with lease-based charges. This work can involve complex abstracting tasks that are typically extremely time-intensive (especially for long-term leases) and can be a source of data entry errors that may cause missed payments, incorrect rent schedules and non-compliance. Virtual Premise has solved these problems with Express Charge Entry features that enable users to make entries easily, quickly and accurately.
Download the datasheet to see a list of specific
Express Charge Entry Features.
Customers report that the Express Charge Entry Features are very easy to use and are vastly speeding the time it takes to enter and calculate lease data. Once customer reports that a 60-year lease with rent and rent tax at 2% escalation per year took four hours to abstract. Now, with Express Charge Entry, the entire schedule was abstracted, automatically calculated and displayed in less than two minutes.
Advanced Financial Functionality for Leases.
Made Easy.
To reduce costs for your company, you need to effectively manage all of your real estate information. This includes the accounting requirements of your real estate department - - - information which is quite different from standard corporate accounting information. The
Virtual Premise Global Real Estate Management System™ contains advanced financial functionality that bridges the gap between your ERP/Accounting system and the lease administration and accounting needs of the real estate department.
As part of the solution's Portfolio Module, VP's advanced financial functionality allows for entry of lease charges for both payable and receivable leases, processes payable charges for payment, creates invoices for receivable charges, posts cash receipts and allows for transfer of data to a corporate accounting system.
As a result, your company gains overall cost savings and improved strategic decisions due to:
- One-source visibility into relevant real estate accounting information
- Increases efficiencies and data accuracy
- Assurance of positive audit outcomes
Virtual Premise Software Editions
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