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Updated over 5 years ago on . Most recent reply

User Stats

56
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5
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Pat L.
  • Real Estate Investor
  • Bergen County, NJ
5
Votes |
56
Posts

Quickbooks - 1 Rental-Owned in own name vs LLC - Does it matter

Pat L.
  • Real Estate Investor
  • Bergen County, NJ
Posted

I'm both a Quicken user (need to upgrade soon) and a Quickbooks user.

We recently purchased our first cash flowing property. If I were putting in an LLC, no question, I would use Quickbooks. But since we currently own it in own name, would you opt for Quicken or something else? Or would you use Quickbooks anyway? I only use Quickbooks for my tiny businesses - not our personal finances.

Thanks!

Most Popular Reply

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895
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244
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Gita Faust
  • Accountant
  • Richboro - Philadelphia, PA
244
Votes |
895
Posts
Gita Faust
  • Accountant
  • Richboro - Philadelphia, PA
Replied

Are you using QuickBooks Desktop or Online version? If you are using Pro, Premier or Accountant, use it for your rentals. 

Even though you have one property start using Class feature from the getgo.

You can do more with QuickBooks than with Quicken.

  • Gita Faust
  • Loading replies...