Canada / US: All-in-one vacation rental management platform Hostaway has announced a partnership with vacation rental accounting software Ximplifi.
Ximplifi’s VRAccountant platform has connected via Hostaway’s API to allow property managers to tap into cloud-based accounting solutions QuickBooks Online and Sage Intacct. In addition, Ximplifi provides consulting and services for the vacation rental industry.
Vacation rental managers are being advised to practise trust accounting to ensure that funds flow from renters to property owners and themselves correctly. While having a great system of trust accounting in place can help set a business up for success, trust accounting can be complex and difficult to set up correctly.
Automating data flow between Hostaway’s PMS and the Ximplifi accounting systems streamlines this accounting process, saving time and energy on what is one of the most common pain points for property managers by:
- Reducing manual input and time spent transferring data between the accounting tool and PMS;
- Eliminating human errors that lead to incomplete or unreliable numbers;
- Improving insights for financial decision-makers by connecting accounting data with all other data sources;
- Enabling users to adapt faster and more confidently to real-world changes.
Jesse Ehret, founder and CEO of Ximplifi, said: “At Ximplifi, we take a best-in-class approach to vacation rental accounting by combining the top vacation rental management platforms with leading cloud-based accounting software. Connecting Hostaway’s robust platform, which includes powerful integrations, open API, rich data and sales and marketing tools, with the top-notch cloud accounting functionality of QuickBooks Online and Sage Intacct delivers a premier solution for vacation rental companies.”
Marcus Rader, co-founder and CEO of Hostaway, said: “We have high quality and reliability standards for integrating technology into our PMS so it was great to work alongside the Ximplifi team, with their strong tech credentials, on this partnership. Accounting can be one of the most complex parts of running a successful vacation rental business, and we have sought out the best solutions to help our customers automate this so they can really focus their efforts on scaling and growing their businesses.”
