Investor · Virginia Beach, VA · Member since 2015 · 38 posts · 11 votes
Hello all, Writing to get some bookkeeping advice. I am looking to move up from just excel spreadsheets and it appears that Quickbooks is the most liked option. Writing to see opinions/options on bookkeeping software and for those using Quickbooks the consensus between desktop and online (and then in online which tier seems best). I do BRRR and am getting into new construction so looking for a software that can show cashflow, can track projects and project budgets, as well as that can do entity reporting. Thanks for your help!!
Realtor · Maumee, OH · Member since 2015 · 491 posts · 722 votes
5y
Here's what I did: I said screw it all and hired a bookkeeper. I hated Quickbooks, it was too complicated for my non-accountant brain. I was up around 8-9 units and my wife and I didn't have time to do it. When we turned things over to the bookkeeper, she corrected many things that we were doing wrong, and come tax time she sends all of our P&L's and whatnot to our tax professional. It was SO worth the money and my sanity. Just a thought.
I was just certified to be a Xero bookkeeping partner and find that it's much simpler for the non bookkeeper type to use. Also Xero is much cheaper than QuickBooks Online.
The bank feed functionality is better in QBO, and the app connectivity is amazing. As another user mentioned, I also find it more searchable. Obviously there are areas that could be better that QBD does better but those are slowly being updated in QBO.
Intuit is putting a lot more development resources into QBO and want to eventually discontinue QBD support.