If you just finished your taxes for the year, we don’t have to tell you how painful it was. Vacation rental accounting in general can be a huge challenge for many businesses. And, tax season only increases the levels of stress and anxiety in most accounting departments.
The good news is that LiveRez can help mitigate a lot of these issues for vacation rental managers. Check out our list below to learn more about how we can relieve some of the pain of tax season.
1. QuickBooks Integration – LiveRez’s integration with QuickBooks makes it easy to quickly and accurately transfer your accounting data from your LiveRez software to QuickBooks. After an initial mapping process, you can just start up QuickBooks and turn on the QuickBooks Connector. Your data will flow seamlessly from your reservation system to the right spots in QuickBooks.
- Significantly reduce manual labor
- Eliminate double data entry
- No complicated import/export process
2. Trust Accounting + Operations Accounting – Now that your data is in QuickBooks, you can use QuickBooks for both your trust accounting and your operations accounting. No longer will you need to enter data into two different pieces of accounting software. No longer will you need to pull reports from two different places.
3. Creating 1099s from QuickBooks – Now that your accounting data has been moved into QuickBooks, producing 1099s for your owners just got simplified. Whether you’re reporting gross income or net income, QuickBooks can save you time and effort. In fact, the 1099 Wizard in the newer versions of QuickBooks Pro can help you print and/or e-file both your owners’ 1099 forms and your 1096 form in as quickly as just minutes.
4. Easy Reporting – Both LiveRez and QuickBooks have tons of great reports on accounting. You’ll be able to get the important data you need in just seconds.
Learn More About LiveRez
LiveRez is the fastest growing vacation rental software provider for professional vacation rental managers. The company’s cloud-based, end-to-end platform offers fully integrated solutions for reservation management, trust accounting and online marketing, with high-ranking, high-conversion dynamic websites and an extensive affiliate marketing program. The company is a proud Gold Sponsor of the Vacation Rental Manager’s Association (VRMA).
Visit LiveRez.com to learn more:
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