Any Quickbooks alternatives?

[Shaun R.]

I'm thinking about getting quickbooks to track income and expenses for my rental and future flips. Is QB the way to go or is there a better option?

[Account Closed]

My business consists of rental properties, flips (land), the licensing of intellectual property, and various investment type items (partnerships, tax liens, etc.).  I use Xero for all of those functions.

I do use a property manager and I don't integrate with property manager software, that being said, Xero has various "apps" that you can integrate with - whether it's specific to construction (I use project cost accounting) or to rental management.  For rental management, it looks like Re-Leased and Tradify are partners from a property management perspective.

I come from an accounting background (Tax Accountant with over 25 years experience) and have a lot of experience setting up systems (SAP, BAAN, ORACLE, PEOPLESOFT, etc.) and integrating them with Sales Tax Accounting systems (Vertex, Taxware, Sabrix, etc.) so I'm not the right person to ask if it's easy to setup.  For me, it was easy but I understand double entry accounting (many folks don't) so it's easier for me to spot when something isn't right.

I do have to "fool" the system with relation to booking reserves but I view that as a process item specific to me and how I do things.