Acounting Software

9 Replies

What software are you guys using to track your revenue and expenses? We have used excel, quickbooks, and recently purchased Peachtree. I started reading the setup guide for peach tree and it doesnt really seem like it is geared toward the rental business.

Anybody else using pechtree? Or recomendations?

I setup the books about 5 years ago on quickbooks but another employee wants to make the change. We bank with Vecra and apparently you can link your online banking with quickbooks. Do you recomend this and what other reasons can you give that quickbooks is the ticket?

Promotion
Azibo
Smart landlords use Azibo
One-stop-shop for landlords
Rent collection, banking, bill pay & access to competitive loans and insurance - free for landlords
Get started for free

Well, let's see.

Online banking is a biggie and depending on your bank you can push payment requests to the bank as well as pull transactions down.

Tax time. Lots of CPAs use the accountant version of QB and TurboTax for tax return preparation. With QB correctly setup the tax transactions are imported into TT with ease. I prepare my own taxes with TT and have my accountant review them before I file.

Peachtree Accounting is not bad, it's just that with QB much more of the mundane double entry stuff can be made to happen completely behind the scenes. That leaves you to concentrate on managing your properties than understanding how "T" accounts work. Is this item a debit or a credit? What tax line does THAT go on? etc. etc. etc.

I've heard of software called Yari. It's supposed to be used by large real estate companies. I've never had the chance to use it but wish I did. Has anyone here used it?

I'm sorta seeing a pattern here for quickbooks. Can you view each property on separate charts or graphs as opposed to one single statement with all properties.

Niman, I manage 20 units.

Setup correctly, you can view the data almost any way you can imagine. Later this morning I will be walking a property manager through using it to manage over 300 units.

Let me know if you need any help.

Originally posted by C Martinez:
I'm sorta seeing a pattern here for quickbooks. Can you view each property on separate charts or graphs as opposed to one single statement with all properties.

Niman, I manage 20 units.


I'm not sure this entire statement is directed at me....
Yes, you can split the reports to view the properties all together, individually, or by owner. Our founder ran Quicken and QuickBooks for Intuit - so you will see some of the same important functionality.

From the sound of it earlier, I thought you managed many more units and not 20 - I would have strongly recommended Simplify'em right off the bat. Why do you use PeachTree for 20 units? Does it have features that are important to you, and what are they?

The reason I ask is because we have property managers that manage greater than 100 units with our software, and I am trying to understand what additional features are more valuable to you.