How BK Management saved hours per week by consolidating their accounting operations
BK Management
Established: 2011
Location: West Lafayette, IN
Portfolio: Student Housing
Previous Solution: Quickbooks
Catering to owners of student housing around Purdue University, BK Management originally ran its corporate accounting and property management accounting on two separate platforms. We spoke with Accounting Manager April Schuette to learn why BK Management migrated all of their accounting operations over to AppFolio, and how it has impacted their business.
Units Managed
1,200+
Unit growth in 1 year
400
Time saved with AppFolio Property Manager
3 hours per week
“Being able to see everything in one place makes a huge difference.”
A single source of truth
“We were using QuickBooks for corporate accounting and AppFolio for property management accounting, and there was just no integration whatsoever. As a result, we had to constantly look for workarounds, but we weren't ever really able to get what we wanted. We had to run one set of reports out of QuickBooks and another set of reports out of AppFolio, and then try to marry things together. It just wasn't efficient, it was very clunky. So finally being able to put everything in one place and then look at everything in one place was huge.”
The tools of the trade
Customizable GL codes
“The GL codes are customizable and really it's easy to get out what you want just by straightening up your GL and getting things where you want them. I really like that feature.”
Cloud-based
“It's great that everything is web-based, we can log in from anywhere and often, we work at home if we have to, if someone's sick or has a kid that's sick, they can take their laptop and work at home.”
Single entry
“The ability to add corporate charges, all of these things to make my life easier, for sure. It eliminates the need to do a lot of dual entry.”
Owner portal
“I think what’s most important to our property owners is reporting, and they really like AppFolio’s reporting. They like having a statement that's detailed, and they also like being able to receive ACH payments as well. Some of our owners we've set up with view-only access, so they can actually log in and look at their properties and run reports for themselves.”
“I've watched AppFolio grow its accounting capabilities over the last several years and I get real excited when new things come out, especially when I've been thinking all along, ‘Oh, I wish we could do this to that! And every new feature that gets added, we get really excited because we're like, "Okay, how can we use this now to become more efficient? All of those things are great right now and helping us grow for sure.”
For example?
“eCheck payouts for security deposit returns is a great feature. Adding the projects is awesome, and purchase order functions — being able to assign certain costs to different projects— that's great as well. I also really like being able to create estimates in AppFolio for major renovations or something that's a higher value job.”
Your success is our success
“Having a support team that responds immediately to requests is really important. A lot of times when you're working through something and you have an issue, you don't have two days to wait for an answer, you know what I mean? The support reps at AppFolio are amazing and they're able to identify my issue very quickly and get right back to me.”
The power of community
“The database and the user community are great resources for talking to other accountants, seeing if they’ve ever had a similar issue, and finding workarounds and tips. That's an amazing resource.”
Space for more big-picture thinking
BK Management leans on technology to better fulfill its mission of providing quality, affordable and safe housing to the students of their community while continuing to grow the business.
“AppFolio automates a lot of the busywork and enables us to get a bigger picture of what's going on, and what we need to work on in order to continue to grow.”
Accounting Manager, BK Management
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