Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

10
Posts
3
Votes
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
3
Votes |
10
Posts

Best bookkeeping software?

Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
Posted

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.  

User Stats

303
Posts
240
Votes
Robert Biggerstaff
  • Contractor
  • Pensacola, FL
240
Votes |
303
Posts
Robert Biggerstaff
  • Contractor
  • Pensacola, FL
Replied

You answered your own question QuickBooks

User Stats

153
Posts
75
Votes
Cathie Kovacs
  • Rental Property Investor
  • Stamford, CT
75
Votes |
153
Posts
Cathie Kovacs
  • Rental Property Investor
  • Stamford, CT
Replied

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

BiggerPockets logo
PassivePockets is here!
|
BiggerPockets
Find sponsors, evaluate deals, and learn how to invest with confidence.

User Stats

10
Posts
3
Votes
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
3
Votes |
10
Posts
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
Replied

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

User Stats

7,937
Posts
3,443
Votes
Basit Siddiqi
Tax & Financial Services
Pro Member
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
3,443
Votes |
7,937
Posts
Basit Siddiqi
Tax & Financial Services
Pro Member
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
Replied

@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.

User Stats

259
Posts
144
Votes
Matt Faix
  • Investor
  • Carnegie, PA
144
Votes |
259
Posts
Matt Faix
  • Investor
  • Carnegie, PA
Replied

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

User Stats

10
Posts
3
Votes
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
3
Votes |
10
Posts
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
Replied

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. 

User Stats

36
Posts
19
Votes
Morgan Porter
Property Manager
  • Property Manager
  • Richmond, VA
19
Votes |
36
Posts
Morgan Porter
Property Manager
  • Property Manager
  • Richmond, VA
Replied

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.

User Stats

3
Posts
1
Votes
Annie Margarita Yang
  • Specialist
  • Boston, MA
1
Votes |
3
Posts
Annie Margarita Yang
  • Specialist
  • Boston, MA
Replied

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.

User Stats

26
Posts
17
Votes
Replied

@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.

User Stats

10
Posts
3
Votes
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
3
Votes |
10
Posts
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
Replied

 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.

User Stats

2
Posts
0
Votes
Replied

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.

User Stats

161
Posts
75
Votes
Curt Riffel
  • Accountant
  • Dallas, TX
75
Votes |
161
Posts
Curt Riffel
  • Accountant
  • Dallas, TX
Replied

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

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes

User Stats

10
Posts
3
Votes
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
3
Votes |
10
Posts
Geoffrey S.
  • Rental Property Investor
  • San Diego, CA
Replied

quick books online isn’t worth the subscription fee. 

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

User Stats

310
Posts
187
Votes
Dan V.
  • Investor
  • Norfolk, VA
187
Votes |
310
Posts
Dan V.
  • Investor
  • Norfolk, VA
Replied

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. 

User Stats

1
Posts
0
Votes
Replied

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!