Quickbooks online vs Quickbooks desktop for landloard

10 Replies

Hi all, We are transiting from excel to Quickbooks, just curious for those who has experience with Quickbooks do you use online version or desktop version? Is it huge difference? Thanks

I HATE QB online with a passion. I had to use it for 2 years and was so excited when I got to drop it.  I never thought I would be so excited to drop a accounting program.  Personally, I use Quicken desktop which I think is better than QB desktop, at least for my needs.  QB as a whole can be more complex than I need it to be for my businesses 

Brie Schmidt, Real Estate Agent in Illinois (#471.018287) and Wisconsin (#57846-90)

@Brie Schmidt thank you. Do you own rentals? And does quicken desktop has class that separate them?

Originally posted by @Liz C. :

Brie Schmidt thank you. Do you own rentals? And does quicken desktop has class that separate them?

30+ properties across 2 PM's and 5 LLC's. I also own three other companies and everything goes through Quicken Desktop (12 business checking accounts and 3 personal checking accounts)

I would rather use a pen and paper than QB online.  

I can seperate and tag anything as I please and it links with my bank so all I do every 2 weeks is press a button, it loans all my transactions, and then I categorize and tag everything 

Brie Schmidt, Real Estate Agent in Illinois (#471.018287) and Wisconsin (#57846-90)

I run my rental building in QuickBooks desktop. Each of the four offices has its own class, the parking lot is its own class, and overhead has its own class. It works great for me. Hope this helps!

@Brie Schmidt, do you use the Quicken Home, Business and Rental Property version?

QB customer service told me in December that they will not support on QB desktop after April 2018.  They are pushing everything online.  I've not talked to anyone that likes the online version.

I have QB online have 17 rentals properties did a dozen flips and have no issues. I think QB online is great. For those who hate QB online do you mind sharing your reasons why?

Originally posted by @Mayer M. :

I have QB online have 17 rentals properties did a dozen flips and have no issues. I think QB online is great. For those who hate QB online do you mind sharing your reasons why?

I'm finding QB online difficult to organize my rentals and flips. Do you have any tips on how you organized QB to fit your needs? Maybe a video tutorial or something to assist?

It’s all about the Classes. Create a class for flips and a class for rentals. Then assign properties to the appropriate class.

Selecting one version over the other depends if you have multiple EIN, need a Balance Sheet for each property and if you want access online where you are. And of course there are many other factors.

QuickBooks has a sunset policy - they will not support any desktop version that is 3 years old.

QuickBooks Desktop is not going away.

Make your own decision, just because Intuit is pushing online, you need to use it. 

Everything is easy, even buying and selling real estate. You just have to do your due diligence, find one person who can give you the world of accounting and financial reports including a way to manage your property expenses.

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