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Updated almost 9 years ago,
Best Quickbooks Online Version Choice for New Investor
We just sold our first flip and are due to close on our first rental SFH within the next week, and I am struggling to figure out which version of QB to go with. While we are planning on building a nice rental portfolio over time, it is a long term retirement plan and it will not necessarily be a fast process. Things certainly could change, but for now I hope to acquire, improve, and hold one or two properties per year until I have 8 - 10+ good rentals working for us.
I have settled on Online vs Desktop / Pro because I want the ability to upload receipts wherever I happen to be with the mobile app, and since my wife and I will be sharing the bookkeeping responsibilities. I also consider online invoicing / bill pay to be a requirement. Cash flow will definitely be modest in the beginning, so I don't want to buy more bookkeeping software (or anything else...) than I really need.
I had to rule Simple Start out since it appears to be restricted to a single user. Amazon has Essentials for $169, but I keep wondering if the $80 additional expense of Plus wouldn't be washed out between the 1099 prep/send function and class tracking that will hopefully make tax preparation fees a little less... I have no idea if my thinking is right on or way off, so I would appreciate any thoughts on how much QB Online is enough or too much for our needs.
Thanks!