Personal Finance, Business Finance , Record Keeping and Data Analysis Software

10 Replies

Hello BP! I have a question in regards to good financial bookkeeping companies. What are good companies to use for personal finance and business finance? I hear mint.com is really good for personal but you can not print off financial statements to use. Quick books looks like the way to go but i've heard other things as well. Which system is best to use? Is there other systems out there that's better?

Originally posted by @Dominique Grayson :

Hello BP! I have a question in regards to good financial bookkeeping companies. What are good companies to use for personal finance and business finance? I hear mint.com is really good for personal but you can not print off financial statements to use. Quick books looks like the way to go but i've heard other things as well. Which system is best to use? Is there other systems out there that's better?

 What do you do - flip, rent, develop, construction, agent, broker......?

I use both that you just mentioned.  Mint for personal and quickbooks for business.  I never found that not being able to produce financial reports from mint was much of an issue. Whenever I was getting a loan all they wanted was my personal tax returns. If I was using income from my business I would then print the necessary reports from quickbooks.

I have a brokerage, rentals, and do flips and we run everything through quickbooks.  I have tried a few other softwares and quickbooks as been the best by far for us.

I use Mint for my personal finances.  We use Buildium to manage our rental properties.  Buildium is a great management software that has pretty good to decent accounting functionality as well.  I'm an accountant, so there are some things that I wish I could change and customize, but it is very user friendly for those who don't have much background in accounting.  I don't think it would be very good for flipping.

@Gita Faust

 We are looking at flipping and wholesaling. 

@Sam Erickson

 My business partner (my wife) just let me know she is going with quickbooks for the same things you have said. looks like quickbooks it is!

QuickBooks it is Dominique.

If you liked Mint for personal finances, then Wave for business is very similar. I have enjoyed using it and received pretty timely responses from CS.

Once I had Quickbooks, I just created another company file to handle the personal. You can have many company files in a single copy of Quickbooks - you just can't have multiple company files open at the same time in the "basic" version of Quickbooks. 

Originally posted by @Steve Babiak :

Once I had Quickbooks, I just created another company file to handle the personal. You can have many company files in a single copy of Quickbooks - you just can't have multiple company files open at the same time in the "basic" version of Quickbooks. 

 So true you can open QuickBooks software twice only if you have the Accountant and Enterprise versions. 

Originally posted by @Patricia Vildozo :

Gita Faust and Steve Babiak what Quickbooks version would you recommend ?

Do you rent or flip?

Long term or short term?

How many properties are we talking about?

How many EIN's do you have?

and more questions...

Depending on your answers we can decide the best options.

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