Clearing
Overview
Clearing is a complete trust accounting and automated bookkeeping solution tailored for property managers and real estate investors to close their books each month faster than ever. Say hello to automation and goodbye to hours in spreadsheets.
In a Hurry? Wanna Skip the Wordy Parts?
Pricing
Starting at $27.50 for one property and tiered by the number of properties on the platform.
One-time implementation fee of $99.00.
A 10% discount is available for annual subscriptions.
Recommended for the Following
Individual Self-Managing Property Owners – Trust accounting solutions are not needed unless you are managing the funds related to other properties.
Property Managers and Co-hosts – Yes, Clearing is specifically designed to serve the needs of property management companies and is a solution that works at scale.
Real Estate Investors – Clearing can be used to manage the finances of large real estate investment and management companies.
Features
Automated Bookkeeping
- PMS integration to extract reservation data
- Matches booking information to bank account deposits
- Each payout will have a list of items pre-categorized for you, such as cleaning fee, host fee, tax, etc.
- Bookkeeping autopilot with custom rules
- Export and share to Excel
- Prepopulated with common STR industry categories
- You can create custom categories
Automated OTA payout allocation and reconciliation
- Automated categorization of Airbnb and Stripe bulk payments to the correct categories and properties.
Trust Accounting
- Segregate funds by homeowner or group of properties
- Leverage zero-balance accounts to automate the collection of funds to the right balance
- Easily track property manager commissions without mixing it with homeowner payouts
- Pay homeowners, bills, and utilities directly from Clearing via ACH
Expense Management
- Expenses can be split across different listings
- Maintain accurate books at the most granular listing level
- Add notes on transactions to collaborate with your accountant
- Clearing will categorize and allocate transactions by property for you
- Bring all your expenses in one place with a consistent categorization.
- Attach receipts to any transaction.
- Filter transactions by homeowner, property, category, and more
- Export transactions to Excel for further analysis of your cash flow
Streamlined Reporting
- Real-time. As transactions happen in your bank account, credit cards, Stripe, and any other source, they will automatically be posted in your Clearing account without the need to add anything manually.
- Customize reports by category, listing, or owner and export to Excel or PDF.
- Clearing simplifies generating owner statements and has the owner an owner portal.
- Profit and Loss Statements
Integrations:
- Stripe
- American Express
- Bank of America
- Chase
- Intuit Quickbooks
- Guesty
- Airbnb
- Hostfully
- Plaid – bank connections
- OwnerRez
- Guesty (for Pros)
- Hospitable
- Quickbooks
- Uplisting
- Hostaway
Customer Support
- Chat support, online form
- Dedicated customer success rep for accounts
- Phone support
- Email support
Pros
- The Clearing platform is intuitive and easy to use with everything you need and nothing you don't.
- Automated allocation of line items from mass payouts from OTAs and Stripe saves an immense amount of time for STR operators doing bookkeeping.
- Clearing virtual accounts through Evolve Bank and Trust are FDIC insured and allow property managers to create a trust accounting setup for their owners money.
- It cuts down on the time needed to generate owner statements.
- Different permission levels are available to collaborate with your accountant, bookkeeper, and employees.
- Has a dedicated support team to answer any questions post-onboarding.
- Cut down on questions from your accountant and owners with a portal where they can track their portfolio in real time.
Cons
- The number of PMS platforms that Clearing integrates with is currently limited, but more PMS integrations are in the works.
Customer Reviews
Give More Than You Take. If you have experience with this product or company, please share your knowledge with the STR community.Leave a Reply
You must be logged in to post a comment.
