I am about to buy my second AirBNB property and want to keep my expenses in line a bit more.
Does anyone have any experience with short term rentals accounting on one of the following softwares:
Quickbooks Self Employed
Quickbooks Simple Start
Would love some advice!
Quickbooks is a great tool if you learn how to use it correctly.
Find some tutorials online or hire a QBO coach to train you how to enter routine transactions, reconcile the accounts, and generate financial statements.
@Jeffrey Dylan Levy . I am happy with quickbooks online. It is a bit pricy but well worth it. There are some books out that recommend how to setup you chart of account and to treat your properties as customers which I would strongly recommend. Just google quickbooks for rental properties.
Good God man, it's not that complicated. You don't need fancy/schmancy software to do your accounting for your 2nd STR. I've got 23 STRs in my town with 83 beds. I rent them to refinery contractors. Big burly guys with neck tats that drive jacked up 4x4s. They chew tobacco in their sleep and smell like diesel fuel.
My cleaning lady does my accounting on Excel (Business major with a 4.0 in college). She cleans my houses for free and I get to sleep with her.