Looking for web based Accounting thats easy for many rentals, Wave?

Question

We don't want to start accounting on a PC based package like quick books.  I know there's QB web.  But there's ALOT of web based choices today.  A few come up when you google

"freshbooks vs"

That "vs" tells google to return comparisons and alot come up.

Has anyone used  https://www.waveapps.com/

They are free, and make their money on offering CC processing and payroll payments etc.

Curt Smith · Answer

I settled on this simple and cheap solution.  Erik this'll work for your simple needs too.

A spread sheet from this accountant just for rentals.  Get the 25 property version.  $25 one time cost.   Rename as many times as you need chunks of 25 houses.  Store up in google docs.  Works great in google docs.  To heck with all the fancy web based products.

Spreed sheets for sale, cheap

Steven Hamilton II · Answer

DO NOT use Wave for that. It would be an absolute mess.Look at a product like Buildium

Curt Smith · Answer

@Jerry W.

Laptop crashed:  which is why my search only includes web based PM apps.  I'd never ever choose a PC/laptop based app for anything these days forward.  Gone are the days of accounting or anything local on a PC that can be lost to crash, theft etc.

Also, please back up your PCs.  Use some imaging tool, not just backing up data to a USB.  You have a surprising investment in the OS and apps you have installed.  Every business person needs all their PCs image backed up so you just buy a new disk, and install the image.

I used to be an Acronis True Image user.  But Acronis TI 2015 was a complete disaster.  I've heard 2014 was ok.  Now they came out with 2016, which fixes the UI issues.  I'm so mad at TI 2015 I'll not recommend Acronis anymore.  Try other choices, but be sure to use some image backup tool.   It's ok to then use a data back up tool to the cloud, but you need at least one image to do the OS + app restore.

Jerry W. · Answer

My wife found a software called Landlord Max, but the laptop she loaded it on crashed in less than a month and with tax season and everything else she has never loaded in into her new desktop to get it up and running.  I would appreciate any feedback from someone using Landlord Max before we try reloading all of the info into it.

Steven Hamilton II · Answer

Your PM should be giving you detailed reports. The only thing not included would be any items you personally pay for.

Ryan Swan · Answer

Sorry, misread this part. Nevertheless, your property management company is likely using some sort of software, and they use that software to record your properties' income, expenses, and overall financial performance. So my point was, why would you pay for Buildium to track what they are already tracking?

Erik Trefzger · Answer

Hey @Ryan Swan neither of my property managers use Buildium.  Also, I want to be able to track the properties performance and have a true set of books rather than just a lump sum tax return that my accountant prepares.  I think I may have finished my search, I just posted about it here:

http://www.biggerpockets.com/forums/51/topics/176954-i-need-a-bookkeeping-solution?page=1#p1202263

Ryan Swan · Answer

@Erik Trefzger If you are already paying for a property manager that uses Buildium, then why do you need a separate accounting package? Your PM can provide all of the numbers and reports directly from Buildium that show how your properties are performing. Buildium also has an "owner portal" where you can log in and pull this information yourself. I use Buildium for my personal rentals and simply give my accountant the reports at tax time.

Jonathan Makovsky · Answer

Personally, I agree with @Steven Hamilton II . I used Wave, and stopped with it quickly - I found it to be a very confusing software.

@Curt Smith , I'm happy you found a system that works for you!

Erik Trefzger · Answer

@Steven Hamilton II why do you say that?  I'm in a similar situation as @Curt Smith and I'm also trying to find a good cloud based bookkeeping solution.

I ruled out Buildium b/c I use a property management company that handles all of the tenant management, rent collection, etc part of my business.  I also use an accountant to do my taxes.  I don't need an all in one solution, just a bookkeeping solution that allows me to see how my individual properties are performing and as a way to get my accountant the numbers he needs at the end of the year.  Any guidance is appreciated!

Looking for web based Accounting thats easy for many rentals, Wave?

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