By The Numbers: The Ledger Module of Easy HUD Settlement Statement Software
Although it might feel like real estate is nothing more than filling out government forms, there are a few other tasks involved and Easy HUD can help with those. Of course we can help with completing the HUD 1 settlement statement, a big part of a real estate deal, but we can also help with tracking all of the financial transactions associated with the sale through the Ledger Module.
The Problem With Outside Ledgers
You have other options to track your ledger but none of them are going to be as easy to use as Easy HUD’s own ledger. You can note your transactions by hand, keeping your books in literal books. You can use a spreadsheet program to automate the calculations. Both of these require manual data entry and mistakes are common. Paper ledgers add the chance you will do the math wrong, possibly overdrawing an account without realizing it.
Many real estate professionals, even those who fill out the HUD 1 statement by hand rather than using an efficient tool like Easy HUD, use commercial financial software to keep their ledgers. While this is a step up from cobbling together a spreadsheet solution, it still runs into the problem of double entry. You have to enter transactions both in Easy HUD and the ledger program, and if the two ever get out of sync then you are going to have a problem.
Easy HUD’s Ledger Module
You haven’t got time to pore over paper books, confusing spreadsheets or complicated financial software. What you need is real estate title software that includes a built-in ledger option designed to work with the information you’ve already entered. The Easy HUD Ledger Module automatically imports information from the HUD-1 form you are preparing so you know your initial figures are accurate. If you ever change the HUD form, then a click of the button allows you to re-import the data to keep your ledger up to date.
The Ledger Module makes it easy to split or combine checks across multiple properties or multiple vendors. Print professional-looking checks so you don’t have to waste time filling them out by hand. Itemized ledger reports let you see the whole complicated financial picture and ensure that every check and deposit is accounted for.
Try a demo of Easy HUD real estate agent and attorney practice management software for yourself and see how you can cut closing time, simplify ledger accounting, and file 1099-S forms with a click.