Is quick book software good to use for tracking rental income and expenses? Or what other software would you recommend.
QuickBooks is general accounting software, not necessarily designed specifically for rental owners in mind so you probably need to learn how to use it first. I use it and have no plan to change for now.
@Raj Parwani I'd suggesting taking a look at Innago. They sync with QuickBooks online and automatically create rental invoices for you based on your lease term. Also, they have some other great features for tenant management; online leasing, online payments, screening tenants, and a tenant app.
@Raj Parwani There are a lot of accounting options out there for landlords. We use a combination of quickbooks and accounting features within our property management software (Innago), which really works well for us in terms of tracking rental income and expenses.
I would add that whatever accounting software you decide to use, you should not try to set it up yourself. When people who aren't accountants set up their own books, they inevitably make mistakes that cost them more money down the road. Hire a good bookkeeper with experience accounting for real estate to set it up for you. Ideally that bookkeeper would also offer ongoing support and teach you how to maintain your books. There are a bunch of us here in the BP forums.
Thanks everyone. I will check out Innago and different software available. I want to buy the software one time instead of using an online software.
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