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Updated 9 months ago,

User Stats

6
Posts
5
Votes
Ryan Runchey
  • San Jose, CA
5
Votes |
6
Posts

Setting Up & Using Quickbooks Online for Rental Property

Ryan Runchey
  • San Jose, CA
Posted

Hi Bigger Pockets,

I purchased a condo in the bay area this year living as an owner-occupant with housemates. While it's not a big fixer-upper, I am renovating - three steps in with BRR!

I need help with Quickbooks accounting for the rental property. The entry-level Quickbooks Online software itself is expensive $250/yr... that's not even adding up potential books/courses, CPA fees or personal tax filing software like Turbo Tax. Outrageous!

I am diligently saving/scanning/uploading receipts & importing transactions from a rental-specific-checking linked bank account.

I've found two websites that are supposed to help with Quickbooks for rental properties:

[OLD] https://landlordaccounting.com... only... $99)

[REALLY NEW] https://www.incomedigs.com/&nb... online, seems good but so new... also $600 for the bootcamp) 

These fees above include books/video courses & chart of accounts download but do not include any personal help with setting things up, in-person instruction, or ongoing maintenance.

Does anybody have any recommendations for setting up Quickbooks Online the right (and affordable) way? Any recommendations on CPAs? 

I'm not against spending $500 to do this right the first time but that just seems expensive for self-taught approach.

Thanks,

Ryan

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