Accounting Software for Rental Investment

[Cheryl S.]

I am currently using Excel to track all the ins and outs of my rental investments. As much as I love the flexibility offered by Excel I do want to look into a more efficient tool as I start to scale up my business.  Any accounting software would you all recommend to efficiently track rental income and expenses, and run P&L and BS reports? I heard good things about Quickbooks, but the drawback is that the software is not specifically designed for Real Estate Investment and we will have to set up each rental property as a customer in Quickbooks. Any thoughts on that?

Also, has anyone here tried Stessa? It sounds promising and it's free but I am a bit hesitate to link my external accounts to the site. 

Thanks all and Happy New Year! 

[Christian Stoecklein]

@Cheryl S. Look at REIhub for a dedicated rental accounting software.

If you want something free consider Wave which is like QBO but simplified.

Stessa doesn't have a balance sheet and double entry accounting. It's an Asset management tool and not a true accounting software for people who self manage, etc.

Christian