What bookkeeping software do you use?

[PJ Binn]

I am a small landlord for now with a handful of properties. What software do you use to track expenses and income? Is there something specific to real estate investing or is Quickbooks the way to go?

[Ben Day]

Hi @PJ Binn! 

Karl is right on about using Quickbooks. One of the things you can do differently is upgrade to Quickbooks Online Plus, which will let you organize your expenses by "class" AKA by property. This way, your chart of accounts can stay simple and you'll still get all the reporting you need. This will also get you one step closer to being ready for tax season. 

Another thing I would do is run your income through a second software. I'm a big fan of controlling what happens to your cashflow system, and there are horror stories of bad tenants bouncing online payments so many times that QB eventually shuts down your payment feature permanently. 

If you haven't already, look into Cozy.co. It's a free software built for landlords that helps with the whole rent collection process. They make your rent information very easy to track, and you can make the data entry very simple from there. I wouldn't track your expenses in Cozy, but that's an option as well.