Buildium for accounting too?

Question

Hey all!

So I just signed up for Buildium and wanted to hear feedback about using their platform for accounting. Currently I run QuickBooks, but their claim is there’s no need for QB as their accounting and reporting is a QB replacement.

Should I be running QuickBooks along side Buildium or ditch QuickBooks and solely use Buildium?

Thanks!

Basit Siddiqi · Answer

Building is a great property management software along with accounting capatbilities.

Drew Sygit · Answer

We would recommend keeping as much in Buildium as possible for simplicity.

Only use QB if you have income from sale commissions, etc.

Soh Tanaka · Answer

I'm not an accountant, but I have a different opinion about using Buildium as an accounting software. I used to use Bildium. While it has some accounting features,  If you really want to keep track of everything (assets, depreciation, etc.), I think using another accounting software, such as Xero or QuickBooks, is better. It'll be overkill, to be honest, but it's better than using software that lacks some essential features. I've been using QuickBooks for over a decade, and having all the numbers in one place is excellent.

Sean O'Keefe · Answer

@Mayer M. I love Buildium and "yes" it's great for accounting also.

Max Emory · Answer

@Mayer M., some of our Clients use Buildium as a PM software but we still use QBO as the master accounting software to merge all property-specific transactions with general business transactions to get an overall financial picture for their business(es).

Ashish Acharya · Answer

Buildium offers comprehensive property management and accounting features, so many users find it sufficient to replace QuickBooks. It’s designed specifically for real estate, with features like rent tracking, expense management, and tenant payments, making it more tailored for property owners.

However, if you’re used to QuickBooks or need more robust general business accounting (e.g., payroll, invoicing for non-rental income), you might want to keep both.

Ultimately, it depends on your specific needs:

• For property-specific accounting, Buildium is likely enough.
• For broader business finances, consider running both or consulting a CPA to see if Buildium covers all your requirements.

*This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.

Landon Mizuguchi · Answer

Depending on the size of your portfolio and type of properties, Buildium's a great option.

Simon W. · Answer

Hey Mike, I responded to your other thread about Buildium.

CPA do not need to go to any of your platforms even if you have QBO. It is just something easier for them to access without asking you to generate the reports.

One of my client uses Buildium but can't sync his bank accounts to the platform. So I would just have to manually create those transactions, not the most fun thing to do, but it's not difficult since I've been doing it for over a year now.

Jill F. · Answer

Our accountant never actually sees our Buildium software, my husband does the bookkeeping and accounting. He provides the CPA with Buildium Balance sheet and Income statement reports and any supplemental information like Hud statements if we have done purchases or sales during the year. He's been providing paper reports but next year they have requested that he export these into spread sheets.

Buildium for accounting too?

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