Best bookkeeping software?

General Landlording & Rental Properties
7yFollow

Best bookkeeping software?

Geoffrey S.
Rental Property Investor · San Diego, CA · Member since 2016 · 10 posts · 3 votes

I've got 7 doors that I self-manage and i'm set to add some more in the coming year.  I've been bookkeeping with a google drive spreadsheet.  A new tax year is upon me and I'm thinking of buying quickbooks, as it would help me file my taxes and would look better to a lender than the expense sheet of my own creation.

Thoughts?  Are there other software products out there?  I like quickbooks because it doesn't require you to pay a monthly subscription and it's got a good reputation.  

1Reply
100 views

Most Popular Reply

Anthony R.
Member since 2018 · 26 posts · 17 votes
7y

@Geoffrey S. I really hated quick books. Even their “new” online version seemed antiquated to me. I opted to pay more and outsource my bookkeeping to bench.co. Happy to share a referral link where we’ll both get a free month if you’re interested.

2Reply
See this reply in the discussion

16 Replies

Jump to latestLatest
  • Robert Biggerstaff
    Contractor · Pensacola, FL · Member since 2018 · 303 posts · 240 votes
    7y

    You answered your own question QuickBooks

    0Reply
  • Cathie Kovacs
    Rental Property Investor · Stamford, CT · Member since 2017 · 153 posts · 75 votes
    7y

    Quickbooks is the way to go. Each property should have its own Class. 

    0Reply
  • Geoffrey S.
    OP
    Rental Property Investor · San Diego, CA · Member since 2016 · 10 posts · 3 votes
    7y

    Purchased quick books. Experiencing the learning curve as we speak 🤮

    1Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    7y

    @Geoffrey S.

    There is a learning curve if you are unfamiliar with accounting or never used the software before.

    I would suggest watching the tutorial on how to use the software. There are also some good videos on youtube on how to use it properly.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
    View Page
    0Reply
  • Matt Faix
    Investor · Carnegie, PA · Member since 2014 · 259 posts · 144 votes
    7y

    We use Quickbooks Online and took a class with our CPA to learn the basics - Well worth it! 

    1Reply
  • Geoffrey S.
    OP
    Rental Property Investor · San Diego, CA · Member since 2016 · 10 posts · 3 votes
    7y

    yeah, i have been spending time on YouTube doing that.  It’s just  that I have no accounting experience and I created my own spreadsheets when I started this (I created and know my own system, not this one). It’s taken a day so far of starts and stops to input last year’s numbers and I thought it would take less time. 

    0Reply
  • Morgan PorterBusiness Member
    Property Manager · Richmond, VA · Member since 2018 · 36 posts · 19 votes
    7y

    Quickbooks is definitely the way to go. If you really want to save a few bucks, you can also use Mint.com but it doesn't have all the features of Quickbooks. You'd need to create custom Tags to make it work, which isn't hard, but its a bit more time consuming.

    0Reply
  • Account Closed
    Specialist · Boston, MA · Member since 2018 · 3 posts · 1 vote
    7y

    QuickBooks. I recommend the desktop version. But if you want the online version, buy the PLUS subscription (most expensive) in order to use class tracking and to get advanced reports.

    1Reply
  • Anthony R.
    Member since 2018 · 26 posts · 17 votes
    7y

    @Geoffrey S. I really hated quick books. Even their “new” online version seemed antiquated to me. I opted to pay more and outsource my bookkeeping to bench.co. Happy to share a referral link where we’ll both get a free month if you’re interested.

    2Reply
  • Geoffrey S.
    OP
    Rental Property Investor · San Diego, CA · Member since 2016 · 10 posts · 3 votes
    7y

     With only seven doors so far, and all my stuff more or less input after two days, I think I will stick with QuickBooks for now, as I got the desktop version and won’t have to pay anymore. Thank you for the offer, though.

    0Reply
  • Trevor Pare
    Member since 2019 · 2 posts · 0 votes
    7y

    Quickbooks is great if you're looking for a tool to manage your own books. However, if you're looking for a fully managed solution I would recommend bench.co

    We actually use both. We use Quickbooks to manage some of our internal tasks like expense tracking, invoicing, etc. but Use bench to manage all of the more tedious tasks like bank recs. and tax prep.

    0Reply
  • Curt Riffel
    Accountant · Dallas, TX · Member since 2016 · 161 posts · 75 votes
    7y

    The most popular ones I hear of in the space are QBO - Quick Books Online and Xero.

    0Reply
  • Geoffrey S.
    OP
    Rental Property Investor · San Diego, CA · Member since 2016 · 10 posts · 3 votes
    7y

    quick books online isn’t worth the subscription fee. 

    Buy it outright. The online version becomes more expensive within a year 

    0Reply
  • Dan V.
    Real Estate Consultant · Norfolk, VA · Member since 2017 · 345 posts · 201 votes
    7y

    Since you already decided to go with Quickbooks (good choice by the way!). If your accountant offers QB training or consultation, I would recommend sitting with him for an hour or two to go over your set up and procedures, this is also important. You can also search online for tips/tricks on how to automate certain tasks and utilize the full features offered by QB. Or if you have any specific questions, feel free to ask here in BP. 

    1Reply
  • Sophie Paul
    Member since 2024 · 1 post · 0 votes
    2y

    Hi @Anthony R. or anyone else,

    Can you please give me a referral link for Bench.IO?
    We need their help with back taxes. Thank you!

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free