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Updated about 8 years ago on . Most recent reply

User Stats

203
Posts
135
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Ben Roberts
  • Rental Property Investor
  • Memphis, TN
135
Votes |
203
Posts

Do I need Quickbooks? Isn't there something better? or cheaper?

Ben Roberts
  • Rental Property Investor
  • Memphis, TN
Posted

I'm a wholesaler from Memphis and lately I've been using an app, Expensify, to help track expenses and mileage.  It's fair but not very professional and it doesn't integrate with anything else.  

I drive a lot to look at property, market a lot, spend some money on a data plan, buy office supplies.  Occasionally I'll go out to eat with an investor. Things like that.  I'd like to be able to keep track of expenses and income, come up with P&L's, do a little analysis, generate expense reports, and generally manage my finances as a wholesaler so that taxes are easier to figure out next year.  

Most of what I do is by assignment.  I don't do sub2.  Maybe a double close. I'm working towards buy and hold rentals but I think I need to keep the two income/expense streams separate, right?

I'm considering Quickbooks Self Employed but is there anything else out there?  Anything better?  What do you use and why?

Thanks,

Ben

Most Popular Reply

User Stats

5,028
Posts
2,573
Votes
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
2,573
Votes |
5,028
Posts
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
Replied

honestly your not doing enough volume to really need quickbooks unless you just want to have nicer forms to give to your cpa. 

Keep up on your excel and you should be good to go.

Just my opinion 

  • Curt Davis

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