Investor · Peoria, AZ · Member since 2014 · 12 posts · 0 votes
I have only 7 properties and want to start doing my book keeping in house. I am currently using excel sheets to track all revenue and expenses. I am send the information over to the book keeper that is preparing P&L and Balance sheets for my CPA...It seems that I am still doing a lot of the work myself, from tenant set up to paying invoices to having to clarify what expense went to which property. What is the best software for my need? thanks!
Real Estate Investor · Fenton, MI · Member since 2008 · 946 posts · 153 votes
12y
I like both QB and Landlord Accounting. He gives decent instruction with actual pictures of the screens from QB. The chart of accounts are applicable to landlords. He also has premade reports that landlords will find useful.
It is time saving in that he tells you to do things that you may never think of on your own. For example he recommends listing your properties as customers and tenants as jobs. This ends up making a useful list to see which tenants owe you money and for reports.
Rental Property Investor · Knoxville, TN · Member since 2012 · 29 posts · 7 votes
12y
buildium is great!!! If you do the quick books route find landlord accounting . It is a template with all the right categories set up . Saves a lot of time . But buildium hands down
Investor · Peoria, AZ · Member since 2014 · 12 posts · 0 votes
12y
I just purchased QB 2014 Pro and Landlord accounting to help me set it up myself...I hope my learning curve isn't too steep. Chart of accounts and set up here I come!
Real Estate Investor · Kirkland, WA · Member since 2012 · 480 posts · 116 votes
12y
I think it's here:
Landlord Accounting
I think it's been updated, but several years ago we picked it up and the templates or forms that came with it were an older version of QuickBooks and we never got it working, so we put it on the back burner since we got busy with life.
We would like to get it going again. My wife handles most of the accounting tasks - I think she was using Quicken. If you get the QuickBooks for Landlord Accounting working, let us know what you think.
Real Estate Investor · Fenton, MI · Member since 2008 · 946 posts · 153 votes
12y
I like both QB and Landlord Accounting. He gives decent instruction with actual pictures of the screens from QB. The chart of accounts are applicable to landlords. He also has premade reports that landlords will find useful.
It is time saving in that he tells you to do things that you may never think of on your own. For example he recommends listing your properties as customers and tenants as jobs. This ends up making a useful list to see which tenants owe you money and for reports.
SFR Investor · Knoxville, TN · Member since 2013 · 31 posts · 23 votes
12y
Tried QB recently. I thought it was terrible, and not user friendly at all. I just went back to Excel for now. I have set up spreadsheet broken down into categories that match what tax software asks for when doing taxes. For me, this is much simpler. I only have 7 rentals right now, so not sure what tipping point might be for looking at utilizing other software