Bookkeeping Software for REI?

5 Replies

I use quicken home and business.  I have each property set up as a project.  Every credit or debit gets tagged to the specific project it is for.  I can run a report at any time on a "project" to see how any individual property is doing.  Quicken automatically downloads my credit card and bank transactions, allows for receipts to be saved to the individual transactions.  It's a one stop shop that works for me.

If you have a partnership or you are looking to generate a balance sheet, then I'm not sure which software provides that feature aside from Quickbooks and Xero. 

Quickbooks Online has most of the market cornered. Its not perfect, but, once mastered, it can be a critical tool in your business toolbox.

Great advice! I use single purpose entities to hold each of my properties (flips and holds). For QB online, they told me I have to pay $25-$35/month for each entity separately. It would be over $200/mo and growing. Is that true? Can you get the accountant version to avoid that? How do you handle multiple entities?

Thank you for your advice!

Russell