Client success story
J&L Real Properties
Migrating a complex asset management portfolio from QuickBooks to Yardi Voyager — consolidating 42 properties and financial entities into a single database.
About the client
A growing asset manager needing a platform that could keep pace
J&L Real Properties had grown substantially to 42 assets and financial entities. QuickBooks, while functional early on, quickly became obsolete for the volume of capital and transactions they needed to track. J&L selected Yardi Voyager as their asset management platform and enlisted EFG for the migration.
The challenge
Migrating 42 entities from QuickBooks to Voyager with complex consolidation requirements
Every one of J&L's assets and ownerships had been set up as separate companies in QuickBooks, resulting in 19 disparate charts of accounts that needed mapping to a single global chart in Voyager.
- 42 properties and financial entities requiring migration from QuickBooks
- 19 separate QuickBooks charts of accounts to consolidate into one global chart
- Complete trial balance history for each entity needed migration
- Short timeline with limited staff resources
- Voyager needed to enable ownership entity consolidation with intercompany transactions
- Platform had to serve as both asset management and central property management database
- Monthly financial imports needed from third-party property managers using disparate software
"QuickBooks was not designed to accommodate a complex real estate investment portfolio. We contacted Eng Flanders Group because we realized we needed experts to help us pull out our QuickBooks data so that it could be properly formatted and set up in Voyager."
Sylvie Yang — Chief Financial Officer
What EFG delivered
A dedicated team functioning as an extension of J&L's staff
- Dedicated project manager and multiple consultants functioning as an extension of J&L's staff
- Careful study of QuickBooks data structures for proper extraction and Voyager formatting
- Consolidation of 19 charts of accounts into a single global chart with detailed GL mapping
- Automated monthly import of third-party operating financials from multiple disparate PM systems
- Custom function to calculate net change from ending balance, enabling backward trial balance history
- Voyager set up for both asset management and property management operations
"Yardi Voyager is an important part of our growth strategy as the foundation for managing the operations and finances of investments as we continue to acquire assets. Eng Flanders Group was key in ensuring that our Voyager platform was properly implemented so that it would support our growth."
Paul Johnson — Founder
EFG services delivered
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