From 1 week to 1 day: Guesty Accounting cut Mike Z Rentals’ end-of-month load

For Mike Zecchino, back office work just needed to get done. He was operating one of the fastest-growing property management companies in Southwest Florida. Using the Guesty platform, he was scaling fast, more than doubling his portfolio, and achieving great success. But one aspect of the business was proving to be more challenging. Bookkeeping, monthly and year-end reports, owner statements and payments were consuming much of his time, and with more paperwork came more errors. Mostly, bookkeeping wasn’t leaving time for other management and strategy-related tasks.

As Mike’s business kept growing, there were more properties, more owners, more channels and more payments to manage. Manual accounting procedures were taking too much time. His team was prepping for end-of-month reports two weeks in advance, and spending days making sure the numbers were adding up. And after statements were sent, they were spending hours on the phone guiding owners through their reports.

Still, Mike found it difficult to entrust finances with a third party. No one knew the business like him, mastered payments and revshare to his satisfaction, or understood his owners’ needs like he did. The thought of connecting to a system that could successfully account for all of that seemed imaginary.

When Guesty announced the release of its new accounting tool, Mike decided it was time. He was already using Guesty’s platform, and knew he had a trustworthy support team to guide him through all aspects of such a change.

Because Guesty Accounting is native to the platform, set up was simple. After the module was switched on, Mike Z Rentals could streamline Trust Accounting. Tracking and documenting every financial transaction was happening quietly in the background. The benefits were crystal clear, especially when it came to month-end routines. Reports and statements were submitted on a silver platter.

Guesty’s Accounting has been a game changer for Mike Z Rentals. Data is automatically pulled and aggregated with each reservation and payment. The numbers are linked to report templates, and bulk editing across properties saves hours of manual work every month.

Furthermore, having a dependable, trustworthy solution in place has had a domino effect. Reporting to authorities has become largely automated, reducing human errors dramatically. Tracking payments and retrieving financial data has become a simple task.

“Once Accounting was up, I was doing everything manually – in parallel – for a few months to make sure it was working well. I actually found things in Guesty that were off in my books.”

“Having the Owner Portal and Guesty Accounting helps secure new owner relationships by bringing a higher level of professionalism. Our owners love having their monthly statements uploaded into their portals, for easy access and convenient storage.”

Potential owners love the Owners Portal, with its easy access to detailed financial reports. Owners are a lot more independent and don’t need to call anymore – they can access the information they need by logging in on their own.

But the most promising change has been the Accounting module’s evolution. Being among the first users, Mike Z Rentals have witnessed the rollout of new features and capabilities, and have experienced first hand Accounting’s growing impact on their business, saving time, resources and enhancing owner acquisition and trust.