Ximplifi
Overview
Ximplifi provides accounting solutions customized for the vacation rental industry. Ximplifi’s accounting plug-in, VR Platform, connects property management software with Quickbooks Online or Sage Intacct to automatically record and update vacation rental revenues in real-time.
Product Offerings
- VRConsult – Accounting software consultation and setup.
- VR Platform – Accounting automation plug-in and integration software.
- VR Accounting Services – Outsourced accounting services and support.
In a Hurry? Wanna Skip the Wordy Parts?
Pricing
Pricing for onboarding and accounting service memberships are customized according to the services needed by each client.
VRPlatform monthly subscriptions are calculated based on the number of active units.
Recommended For the Following
Individual Self-Managing Property Owners – No, individual self-managing property owners are not likely to need the enterprise-level solutions of Ximplifi. The exception would be individual owners with a large portfolio of properties.
Property Managers and Co-hosts – Yes. Ximplfi is specifically designed to serve vacation rental property managers who would like to outsource aspects of their bookkeeping and accounting needs.
Features
VRPlatform is an accounting automation plug-in that integrates property management systems with accounting software to simplify vacation rental bookkeeping. Features of VRPlatform automation include:
- Ability to sync transaction data from vacation rental property management platforms into cloud-based accounting software.
- Automatically record fees and payment data from merchant processors.
- Automatically post and update guest invoices.
- Automatically post management fees and owner commissions.
- Populate, customize, and publish monthly owner statements via a secure online portal.
Integrations:
- Property management software:
- Guesty
- Hostaway
- Hostfully
- Hospitable
- Track
- Accounting software
- QuickBooks Online
- Sage Intacct Cloud Financials
- Payment Processors
- Additional Integrations
Setup Service – Yes, onboarding support from a live rep
Depending on your membership level, Ximplifi’s accounting team can also perform the following accounting services on a routine basis:
- Trust accounting (Booking payments, revenue recognition, owner ledgers, etc.)
- AP bill entry and payment
- Bank reconciliations
- Monthly owner statements
- Sales tax compliance
- Payroll and benefits management
- Monthly financial statement preparation
- Monthly/Quarterly financial review and coaching
- Budget preparation
- Key Performance Indicator development and analysis
- Reports & dashboard development
- Cash projections
- Financial modeling
- Business planning
Pros
- A time-saving solution for busy property managers who want to focus on other aspects of their business and outsource or automate accounting duties.
- VRPlatform's API captures rich data, providing more reliable and up-to-date information compared to manual workflows.
- Consulting services are available to assist with accounting software selection and setup.
Cons
- Emphasizes the use of Quickbooks, and Sage Intacct. Both of which are great platforms, but some may prefer to use other accounting solutions.
- An enterprise level solution that is not likely to be a good fit for individual owners with smaller portfolios.
Customer Reviews
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