If you run a small real estate business, choosing accounting software tailored specifically for rental properties can save time and increase bookkeeping accuracy. When selecting your accounting solution, ensure it contains all of the features that will meet your needs while being easy to use – TurboTenant offers this functionality alongside standard accounting features; REI Hub provides all these features plus landlord software in every subscription plan!
No matter if you are a solo agent or leading multiple agents, accounting software provides an essential way to keep your finances organized. With it, you can manage commissions, expenses and income, create invoices to send to clients, categorize receipts into categories for payment contractors and vendors, reconcile bank accounts and file 1099s. Some top real estate accounting solutions also feature mobile apps that track commissions on-the-go as well as financial reporting features as well as automatic mileage tracking capabilities.
QuickBooks is one of the go-to accounting solutions, used by millions to keep their books organized. It features a real estate-specific chart of accounts, invoicing tools, and an impressive reporting feature which lets you dig deep into their numbers.
Xero is another option available as a larger software provider with more general platform. It provides project tracking, online payment collection, payroll reconciliation, banking reconciliation and automatic bill paying – as well as its user-friendly user interface which makes navigation effortless as your business expands.
There are also standalone solutions that could make an ideal option for property managers and realtors, including Buildium (with online rent payments and maintenance management features, plus maintenance tracking), AppFolio, which has similar functionality but no integration with QuickBooks and PropertyWare XPro (similar features but no accounting integration), that could provide great support.
An all-in-one accounting and property management solution may be ideal for small real estate business owners. This can save time, improve bookkeeping accuracy, and keep you organized – not to mention mobile apps to track commissions on-the-go as well as full financial reports with automatic mileage tracking features. Finding a program that matches up with your needs will allow you to expand your real estate business with confidence.