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Updated over 4 years ago on . Most recent reply
QuickBooks Pro?
As I am getting started in real estate investing, I want to make sure not to be trying to play "catch-up" starting on day one with keeping my books up-to-date. Quickbooks Pro is used in just about every industry; I am wondering if it is also recommended in REI, or if there are other programs that are recommended...
I am just looking for some quick feedback from individuals that are keeping their books updated that may have some wisdom in this area.
Most Popular Reply
@Alex Sanfilippo - Assuming you are talking about rental, not flip...
If you are just starting out, I would say Excel is enough. In order to use QuickBooks, obviously you have to buy it (you have to buy Excel, too, but most people already have one.) Also, it'll be very difficult to use without buying a manual book specifically designed for the landlords. Those will usually cost $100 or more.
If you are interested, I'll be more than happy to share the Excel spreadsheet I've been using. It shows things that QuickBooks can't show, like vacancy rate graph.