Accounting and Bookkeeping Problems Faced by Businesses in the Real Estate Industry


Australia has one of the thriving residential property markets, and the real estate industry is a continuously growing sector. Australia has one of the world’s most extremely urbanised populations with the majority living in metropolitan cities on the coast. Also, one must note that residential real estate accounts for more than half of all household wealth.

Now with so much going on with this sector, it is evident that business in the building and construction industry needs to be efficient to grab the opportunity the market offers. But there are some challenges specific in bookkeeping & accounting for builders & construction industry, some of which are –

Project Accounting

Projects in the builders & construction industries can last for long periods and businesses generally deal with multiple projects during a particular period resulting in voluminous data. All this give rise to the use of project accounting over and above general accounting.

Payroll Compliance

Real Estate Industry has different types of Human Resource, and payment duration is also different. Payroll can be hourly, fixed or linked with the commission of agents. But it is still necessary for the business to comply with Federal and State laws. So, the payroll processing process is quite cumbersome.

Property Management Software

Real estate industry has specific software that helps the businesses track income and expenses while working through agents. But this software is not accounting or bookkeeping software, and the data from this software must collaborate seamlessly with the accounting and bookkeeping software.

How Whiz Consulting Help You Tackle Challenges of the Construction Industry?


We at Whiz Consulting provide accounting and bookkeeping services for real estate businesses. With a decade of working experience with real estate agents, organisations & companies as online real estate accountants we are proud to say that we are well acquainted with every aspect of accounting and bookkeeping in the real estate industry.

We provide the best bookkeeping services in the real estate industry by use of cloud-based bookkeeping software or property management software. These make it feasible for you to perform your accounting and bookkeeping process smoothly without the need of installing software in your system.

We make sure your real estate business is compliant to all the payroll processing regulations and up to date with any changes in the federal or state law. With our services, you can focus on your core activity and let our professional accountant tackle the enormous numbers of transactions while making the best use of any real estate software you choose to use.

Real Estate Bookkeeping Services We offer at Whiz Consulting


Why Choose Whiz Consulting for your Accounting and Bookkeeping needs?


For a Real Estate, Building and Construction Industry, its core function is to deal with property management and construction, not accounting. We at Whiz Consulting understand that accounting is vital for your business, but it is not a core function of your business, and so we provide Accounting and Bookkeeping for Real Estate Industry in Australia. If you are looking for a real estate accountant you have landed in the right place, here is why you should choose us -

Compliance

Our team will make sure that your organisation is compliant to all laws. Our experts keep up to date with any new amendments or regulations so that you don’t not face any legal issues.

Decade long Experience

With the experience of over a decade and in-depth understanding of real estate industry-specific requirements, our team will streamline your bookkeeping and accounting systems for increased productivity.

Cost-saving

You can avail our service up to 50% less as compared to hiring an in-house accountant or local accountant, while you will get access to a long list of accounting and bookkeeping services.

Satisfaction Guaranteed

Since we have worked with Australian Real Estate, Building and Construction businesses, we have a good number of satisfied clients that we have been working with on an ongoing basis.

Limitless Consultation

We provide unlimited phone and e-mail consultations with experienced professionals, and we can modify a plan for you based on your exclusive business needs.

Customise service and report

Outsource your Bookkeeping for Builders from us and get access to tailor-made services and reports. It could be customised reports or customised timelines at which you want the reports to be delivered.

Bookkeeping & Accounting solution online

Get 30 Mins Free Personalized Consultancy