Accounting Recommendations for Rental Property LLC

[Lucas Miller]

Hi All!

I recently formed an LLC with a partner, looking to purchase our first rental property in a few months. We're researching the best ways to handle accounting. We're thinking of using Landlord Studio or Rentec to keep track of income/expenses at the property-level, but would still need a way to track expenses for the organization (not associated with any individual property), as well as tracking capital accounts for owner contributions. For capital accounts and organizational accounting, we're interested in getting recommendations from you all. Would it be easy enough to track all this on spreadsheets? And if so, are there any pre-made templates out there that we could use as a starting point? Or, would Quickbooks be the best option for this, despite the learning curve?

Thank you in advance!