Best Accounting Software

[Kevin Brown]

Hi,

We own and manage two AirBnb's.  We have previously tracked all expenses manually in google sheets and produced financials statements manually, also in google sheets.  

Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.

What accounting software do people recommend?  I would prefer something I can buy once - software subscriptions are a nuisance.

Something that automatically downloads transactions from my online banking portal and that can be used to easily categorize expenses for financial statements would be excellent.

Thanks,

Kevin

[Jake Baker]

@Kevin Brown

I use QuickBooks Online (QBO) for my flipping business, Airbnb, and bookkeeping clients.

QBO has every feature to run a business, excellent reporting features, and integration with other software. It is the most popular software in the industry, and most Tax Preparers are familiar with it, which makes tax season easier.

However, many on the forums will advise against QBO. It can feel like feature overload. The main reason is that it is not initially set up for a Real Estate business like other “real estate-specific” accounting software. It takes a certain level of QB knowledge to set it up correctly.