Quickbooks Software Question

10 Replies

Hello,

We are looking for the correct type of QuickBooks software to use as the website has several different version. Is anyone using QuickBooks to manage their properties and if so which level of software do you use?

Thanks!

Marty

@Martin Robertson

I would use the "plus" version. You actually can use the "class" feature to assign expenses to each property- that way you won't need to get a new subscription for each property.

That is- as long as they are all going to the same return.

Thank you very much for the replies. We took your advice and purchased the online version of the Plus software!

@Gita Faust One subscription for each EIN adds up really fast if you put each property in an LLC. Do you still need a different subscription for disregarded entities?

I have a C-corp with several disregarded LLCs for flipping.  My CPA recommended QuickBooks Pro and had me set up each entity as a separate file.  You can use class tracking for each property.

@Jim Robertson

You shouldn't need a different subscription for disregarded entities (single member LLCs). The purpose of having different subscriptions is for better segregation come tax time. If you have many properties under 1 LLC, or multiple LLCs where you are the sole owner (disregarded entities), there shouldn't be a need to have multiple subscriptions.

If you get the desktop version, you can set up each LLC as a separate QB file and not pay for added subscriptions.

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