Best Software for Tracking Income and Expenses?

Question

Does anyone have recommendations for a simple, easy to use program for tracking the incoming rent/outgoing expenses for several properties? Has anyone had experience using Quickbooks for this?

Thank you!

Kirsten

Nathan Gesner · Answer

Kirsten, scroll through three or four pages of threads and you will see this asked and answered multiple times. A simple spreadsheet should be sufficient for most people until you have too many properties and it becomes time consuming to track. I recommend a spreadsheet until you get around 10 units.

As for software, do a Google search for "free property management software" And you will find dozens of available programs. There are programs like Stessa that will track financials and documents, or you can find a more complete program like TenantCloud that can market properties, track maintenance requests, accept online payments, and more.

As I just told someone earlier today, you should only use software to solve a problem, not just because other people are doing it. If you are able to accurately manage your properties with pencil and paper or a spreadsheet, then continue doing that. When those methods become too time-consuming or difficult to maintain accuracy, then you should look for a software platform that solves your problem.

Ron Brady · Answer

We have 7 properties and been using Stessa for two years and love it.

Todd Lennig · Answer

@Kirsten Crotts quickbooks can work for you and maybe wave accounting.  wave accounting is a free software and but i am not sure if you can track by property.  Quickbooks would work but you would need to get to the level that has classes.  I beleive that is $80 a month.

Best Software for Tracking Income and Expenses?

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