In my last blog I advised what I felt is a pre-requisite for good service charge accounting; but for me to reach the “Zenith” of being a good service charge accountant I need to have a good system behind me!
Over my years within the property management industry I have seen every kind of system that you can imagine from the good to the downright ugly. In an everchanging world where there are constantly new developments, and additional systems being created and published there is still one which always manages to come out on top or to my mind at least – Qube.
My preferred system of choice has always been and will always be Qube, and luckily for me, that is the system we use here at MIH Property Management.
What is Qube?
Qube is an industry renowned system which has full capabilities to manage block and flat management, lettings and sales, and even facilities management. Qube has deservedly, in my opinion won numerous awards for their software and they are constantly improving with updates, as well as a recent merger with MRI Software and I look forward to seeing what they come up with next.
During the time I have used QUBE, I have seen changes across every area and from the improvements that they have made, I have been able to provide real time reports for arrears and budgets which facilitate better decision making for Directors and ultimately the shareholders/members of the company.
Is Qube suitable for Property Managers and Accountants?
Qube is designed to aid and benefit all staff irrespective of their role, and I can guarantee that each person who uses Qube benefits from it in a different way.
Qube allows Property Managers to have a full overview of their property including debtors, creditors, and arrears. The PM can also raise works orders, ensure each job is tracked through its life cycle from start to finish, meaning that can clearly keep track on all of the problems areas at a building.
For an Accountant the benefit of a good property management system is that can accurately report on the finances relating to orders and provide an accurate financial position for our clients. As an accountant I am always interested in the bottom line and the functionality of Qube means that I am able to gage trends at a property and accurately predict the funding needed throughout the year despite any outside fluctuations.
The other benefit for Qube is the interfacing with banking software. For MIH the interaction between Qube and Natwest Bankline and CMS means that we can advise Clients of the monies we are holding at a particular period in time. This is particularly helpful when preparing the year end accounts.
What weird systems have you seen in place?
I have actually been to places who still manage their accounting on excel! Whilst this is great for a Sole Trader, for a managing agent it isn’t best practice. In maintaining your information on a programme such as excel you can be prone to corruption and data loss and often are. I once spent hours looking for a small deficit which was actually a credit but hadn’t been picked up previously as there was no audit trail.
Why is Qube better than the rest?
Qube is very user friendly and can be adaptable to user needs. Qube has a simple user interface, and the company itself, regularly takes on board feedback and works towards ways to make their system better. Qube have one of the best Support teams and consultants.
Here at MIH we are happy to show any of our Clients the great benefits of Qube and how it can help them as Block Owners/Freeholders. From writing a bespoke report, to arrears reporting as well as Management Accounting – Qube has it all and more and MIH are keen to use all of these services for the benefit for our clients.
I eagerly await their updates particularly in view of the recent merger and can’t wait to implement all the new benefits to our clients.
My recommendation to any Block Owner/Freeholder who is looking to change Managing Agents to consider and Agent who uses Qube – maybe even consider MIH!
For more information pertaining to Qube Global Software please visit www.qubeglobal.com/uk/
This blog is in no way endorsed by Qube Global Software and is solely the opinion of the Author.