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Updated over 1 year ago on . Most recent reply

User Stats

42
Posts
10
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Padam Neopane
  • Investor
  • West Orange, NJ
10
Votes |
42
Posts

Soft ware for Book Keeping

Padam Neopane
  • Investor
  • West Orange, NJ
Posted

Hello BP Folks 

I have been looking into book keeping software for rental property to keep track of expenses, income, record keeping. Can anyone share experience with Quick Book or any other soft ware. 

  • Padam Neopane
  • Most Popular Reply

    User Stats

    8,152
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    Basit Siddiqi
    #3 Tax, SDIRAs & Cost Segregation Contributor
    • Accountant
    • New York, NY
    3,690
    Votes |
    8,152
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    Basit Siddiqi
    #3 Tax, SDIRAs & Cost Segregation Contributor
    • Accountant
    • New York, NY
    Replied
    Quote from @Nathan Miller:

    Most of the above answers relate to bookkeeping, but it sounds like you may be wanting something specific to manage the rentals which is different software entirely from Quickbooks or Quicken which do not really help you collect rent.  BP lists some of these software options here: https://www.biggerpockets.com/property-management-tools


     Quickbooks can help you collect rent from tenants. However, I think if someone is looking for a PM / Accounting software, that there are better ones out there.

    You can do it through quickbooks if you set up the tenants as a customer. If you have their email address or mailing address, you can email them or send an invoice in which case they can make the payment via check or credit card.

    The reason i wouldn't use Quickbooks if you are also looking for a PM software, is becuase a PM software may allow the tenant to put in 'repair requests.

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    Basit Siddiqi CPA
    4.9 stars
    76 Reviews

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