What is better STESSA or QuickBooks?

Question

Hello All,

I use Stessa but am looking to change to quickbooks because I can't reconcile my accounts quick and easy on Stessa. Maybe I am not seeing how to do this but I am curious what others are using to track their businesses?

Thank you!!

Stephanie Peterson

Kyle Roberts · Answer

I have used Stessa for years and have always been happy.  George is right, QB is a very robust program but it aims to be a solution for most businesses where Stessa is designed for our industry.

Trevor Oldham · Answer

I'd recommend Stessa! I've personally worked with the founder of Stessa and he is a great guy! Definitely a lot more personable especially if you need help instead of a large company like QB

Stephanie Peterson · Answer

This is the perfect response! THANK YOU! I only have 3 properties so I will stick with Stessa!

I really appreciate the in depth response! Very helpful. :)

I have a bookkeeper you may like that uses QB. I will share here info here!

George Patrick · Answer

Hi Stephanie,

Good timing on your post, I can add some info but also have questions. I've been using QB for 1.5~ years with a 7 property portfolio. From an accounting standpoint it's pretty robust.

Pros: Classes allow you to sort income/expenses by individual property, but you can still create reports for the entire portfolio (or just one class/property) so it's easy to see the income/expense, etc, on the entire portfolio.

Cons: QB, to me, is a lot of accounting/admin work. It is so robust that I haven't yet learned how to do everything that I (probably) need to do. So you may end up not only paying for QB ($85/mo for me) but also for your accountant or a separate QB consultant to help with setup and/or ongoing management of the account. Example: splitting your mortgage payment into multiple transactions, especially if it includes an escrow payment.

I just recently realized I never put in the info I need to have a proper balance sheet report (I have a separate balance sheet spreadsheet). If you go the QB route what I suggest is someone specifically experienced with real estate investing who can set up the QB account for you correctly from the beginning. That's essential.

If anyone can suggest a top QB admin/accountant for this purpose please do.

Thanks,

George