How Safiri Homes Transformed Financial Operations and Reduced Accounting Time by 80%

Safiri Homes operates 40 vacation rental properties across three distinct markets: North Georgia, Nashville, and the Florida Panhandle. As General Manager, Melissa Carrin oversees all aspects of the business, from operations to financial management. When the company transitioned to Streamline as their property management system about a year ago, they faced the challenge of implementing trust accounting while managing increasingly complex financial operations across multiple markets.

With four team members making purchases across multiple properties and regions, Safiri Homes needed a solution that could streamline their financial operations and free up valuable time for growth initiatives.

The Challenge: Manual Processes Creating Operational Bottlenecks

Time-Consuming Expense Tracking

Before implementing Topkey, Safiri Homes relied on a complex manual system centered around Asana project management boards. The process was labor-intensive and prone to errors, as Melissa describes:

"It was very manual in Asana mostly. So we have giant Asana boards, and that was where we tracked everything. And every time you made a purchase, you would have to plug it in there right away. And if you were doing several, you had to be sure and not forget that you were making several purchases and put them all in the different boards." 

This manual approach consumed significant time and mental energy. "Before it used to take a full day every week to get everything caught up. And now I only spend maybe an hour or two a week," Melissa notes. 

Lost Transactions and Research Challenges

The manual system led to inevitable gaps in documentation. "There were inevitably things that we would see come through QuickBooks but we don't have any notes or records of this. We couldn't find it. So it was very challenging to research afterwards, especially on Amazon, because of the way they do everything," Melissa explains. 

When transactions couldn't be identified, the team faced difficult decisions: "We would spend unreasonable amounts of time tracking it down... It would have probably been more cost effective to just eat it, but we spent lots of time looking for it." 

Complex Accounting Integration

The disconnected systems created additional complications for month-end reconciliation. Melissa had to manually match transactions from multiple sources:

"I would have to look at the transaction, and then I would go back to Asana and try to find which property that transaction was for, I would search dollar amounts and hope that there was no other dollar amount transaction that was the same. It was a lot." 

This fragmented approach made it difficult to ensure accuracy and completeness in financial reporting, particularly challenging during their transition to trust accounting requirements.

Introducing Topkey: A Comprehensive Solution

Safiri Homes implemented Topkey approximately three months after their Streamline transition, integrating their existing Visa and American Express cards with Topkey's expense management platform. The timing proved crucial in helping them manage the complexities of their PMS transition.

Seamless Integration with Existing Systems

The implementation connected Topkey with both QuickBooks and Streamline, creating a unified workflow. "So when we transitioned to Streamline, we had to learn trust accounting as well...So implementing Topkey freed up some headspace and some time to learn some other things that we had to learn," Melissa explains. 

The integration allows for efficient multi-system updates: "Right from Topkey while I'm classifying it in the accounting, the accounting side for QBO, I can also create a work order or attach that charge to a work order that's already in Streamline. I don't have to have a separate step. I can also post an owner charge while in there working on that transaction as well." 

Automated Transaction Capture

Topkey transformed how Safiri Homes handles expense documentation. The platform automatically captures transaction details and prompts team members for immediate categorization:

"Now I know it's all in Topkey and a couple times a week, I can get in there and put everything where it goes, and I don't have to remember anything. I have notes. People who have made other purchases have notes. It makes things a lot quicker." 

Improved Data Quality and Accessibility

The real-time capture system ensures that essential transaction information is available when needed: "When a transaction comes in through Topkey, whoever made the charge puts in the information right away. So when I go to categorize it, I see, this belongs to this property, and I need to charge the owner for this, and I know that it's this classification." 

This immediate documentation eliminates the time-consuming research that previously characterized their month-end process.

Enhanced QuickBooks Integration and Workflow

Simplified Reconciliation Process

The integration with QuickBooks has dramatically simplified Safiri Homes' accounting workflow. Melissa explains the transformation:

"Everything that I used to do in QBO, I do in Topkey now. So the categorization that happens, it's really easy now. All the information is there. I had a hard time getting receipts and invoices and documents and everything into QBO before. And now it's all there, and I just have to do a quick match, and it's done." 

Reduced Duplicate Entry

The integrated workflow eliminates the need for multiple data entry points, significantly reducing the chance for errors and saving substantial time on routine accounting tasks.

Significant Time Savings and Operational Improvements

Dramatic Reduction in Administrative Time

The most immediate impact has been the substantial time savings in financial operations. The reduction from a full day per week to just 1-2 hours represents an 80% decrease in time spent on expense tracking and categorization.

"I use it to make sure I don't miss any owner charges as we go through our month. That's been the most beneficial thing... It was a very manual process in several different areas and a lot of stuff that I had to remember to do as I was doing ordering and taking a pair of work orders." 

Cost Savings Through Process Optimization

Beyond time savings, Safiri Homes achieved direct cost reductions in their accounting expenses. "We did get to eliminate one of our accounting fees because of what I'm doing with Topkey now. So we used to have our accountant do all the categorization for us in QBO, but it was silly because they would just ask us what all these transactions were for and then charge us just to tell them what all of these transactions were for." 

Operational Focus and Growth Enablement

Strategic Time Reallocation

The time savings have enabled Safiri Homes to focus on higher-value activities that drive business growth:

"Mostly, it's operations. We're able to dial in our operations better now that I have more time to keep an eye on how everything's functioning. And we are also able to start new initiatives that we haven't had a whole lot of time to focus on before." 

Business Development Opportunities

The operational efficiency gains have created capacity for growth initiatives: "So things like doing more marketing and getting more homeowner engagement and things like that are actually moving along and we're making progress in those areas now where it felt like we would never get around to it before." 

Mental Load Reduction and Improved Work-Life Balance

Beyond Tangible Metrics

While the time and cost savings are significant, Melissa emphasizes an equally important benefit:

"I think the biggest impact is really the mental load. I think with Topkey, it's not quite as tangible because it's more of a mental energy and a time expense. There is the benefit of having more insight and clarity into the transactions so that things aren't missed." 

This mental load reduction has created space for strategic thinking and business development that was previously consumed by administrative tasks.

Rapid Implementation and Exceptional Support

Quick Time to Value

The implementation process was notably smooth, with benefits realized almost immediately: "It takes hardly any time to get used to it. The onboarding was incredibly easy. Support has been amazing, which is a huge deal because we have a couple of big companies that we work with for some critical systems we have and their support is non-existent." 

The time savings began almost immediately: "We started saving time within the first two weeks." 

Customer Support Excellence

The quality of customer support has been a significant differentiator for Safiri Homes: "Whenever I needed anything, you guys were right there. I quickly learned how to do everything I needed to learn to do, and onboarding was easy." 

Why Topkey: A Comprehensive Solution for Multi-Market Operations

Industry-Specific Functionality

For Safiri Homes, Topkey's vacation rental-specific features were crucial: "We looked around and there's not another product that seems to function as fully as Topkey to be able to do as many things as you guys do." 

The platform's ability to handle the unique complexities of vacation rental financial operations, from property-level expense tracking to owner charge management, made it the clear choice for their multi-market operation.

Looking Ahead: Building on a Strong Foundation

With their financial operations streamlined through Topkey, Safiri Homes is well-positioned for continued growth across their three markets. The foundation of efficient financial management allows them to focus on what matters most: delivering exceptional guest experiences and building strong relationships with property owners.

The transformation from manual, time-consuming processes to automated, efficient workflows has not only saved time and money but has created the operational capacity needed for sustainable growth in the competitive vacation rental market.

"It saved us so much time and energy there's just not another product that seems to function as fully as Topkey. We're glad we did it." 

Ready to transform your vacation rental financial operations like Safiri Homes? Schedule a demo with Topkey today to learn how we can help streamline your expense management and free up time for growing your business.

__________________

Topkey is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Topkey Visa Debit & Charge Cards are issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted.

‍