Can anybody suggest a good Accounting Software

16 Replies

Can anyone share if you have a user friendly accounting software that works well for our business? Mainly just flipping and wholesaling now but it'd be great if it also morphs for buy and holds.

@Bob Marr

As @Mayer M. mentioned, Quickbooks is the industry standard when it comes to software. Our firm recommends Quickbooks Online "Plus." The class-tracking feature allows you to associate all transactions with their respective properties. That comes in really handy when you want to break out your financial statements according to each property.

I use QuickBooks Online the most, it is pretty user-friendly, but one downside - don't rely much on their tech support. You pretty much need to know what you're doing with it and need to have some accounting background to understand how it works. Instead find a person who can teach you how to use it. Real estate bookkeeping is more complex than for a regular service business, so there's a lot to learn!

Best of luck!

Does QBO have an offline dashboard that you can use and have it periodocally sync up to online dashboard?

@Bob Marr I too would recommend QuickBooks online. However, before QuickBooks or any accounting software is useful, you need separate bank accounts from personal spending.

If you're feeding the software bad data it will be frustrating to sort through.

I don't recommend QuickBooks Online for Landlords.  It is okay, but we need something more robust than that. 

QuickBooks Online is like someone moving into a new home, and they rent a U-haul truck that is only big enough to handle their boxes but not their big stuff. 

It's doable, but the end results when you get to your new home is that all you have is boxes and nothing to sleep or sit on because the "big stuff", that you really need was left behind. 

Nancy Neville

Originally posted by @Gita Faust :

@Kevin Phu No QuickBooks Online does not have an offline dashboard. What are you looking to accomplish?

 I am looking for something to manage my expenses/income where it also shows a dashboard view of main numbers. I go out to sea a lot where I don't have internet connectivity and want to be able to make updates while I am out as necessary and then have it update my account when I return to land and get connected.

@Kevin Phu QuickBooks Online does have a desktop app where you can sync in the data later on. 

Test it out first. Saying that we do not recommend using that feature.

Originally posted by @Gita Faust :

@Kevin Phu QuickBooks Online does have a desktop app where you can sync in the data later on. 

Test it out first. Saying that we do not recommend using that feature.

Thanks! How come you don't recommend it?