All Forum Posts by: Landon Mizuguchi

@Landon Mizuguchi, nice. Does your software allow you to have a 100% accurate balance sheet per separate filing entity? That's usually the main issue we see with QBO. Other than that, it's great for what we do for REIs (and myself as an REI).

Hey @Tyler Gilpin, once you have more than a few properties, you'll want to consider software. But, excel is totally fine in the beginning.

We use QuickBooks Online exclusively for all of our REI Clients. I use it for my personal portfolio as well. We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.

The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

Something else to keep in mind is your entity structure and how your entities file tax returns. As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription. If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately.

If you want to discuss any of this further, I'm happy to answer questions and help walk you through it.

Best of luck!