The 3 Best Accounting Programs for Real Estate Investors

If you’re part of the real estate industry, you’ll know how many numbers you have to deal with on a daily basis. Real estate accounting can be challenging, and you need to put in a lot of time and effort to stay on top of things. Many real estate managers find that it is better to outsource their real estate and property management accounting or to use online accounting programs.

Let’s take a look at the 3 best real estate accounting programs on the market this year that have features like tracking income by the property, automatic monthly e-payments, and real estate-specific management tools.

1. AppFolio

AppFolio is one of the best apps for real estate accounting. It has various basic and advanced features that make the app accessible for investors who manage their own accounting and those who require more advanced accounting. Some of the notable advantages of using AppFolio are that you only have to pay fo

r the features that you need, you get advanced features that other apps may not have, and you get to use a mobile app for your accounting.

AppFolio is priced on the more expensive side and has an onboarding fee of $400 and a monthly fee from between $280 and $1,500, depending on which plan you choose. The fee is charged per unit in a Core or Plus plan so that for residential properties, you're charged between $1.40 and $3 per unit and between $1.50 and $3 per unit for commercial properties.

The Core plan offers you customizable reports, online payments, marketing tools, and other functions. The Plus plan gives you access to additional services like creating websites, screening tenants, debt collection, and utility management. The Plus plan is especially helpful for business growth because of the advanced performance insights.

2. Yardi

Yardi has three software options for real estate investors: Breeze, Voyager, and Investment Suite. Yardi Breeze gives you many of the basic features you would require for property management bookkeeping, such as digital file storage, general ledgers, batch receipts, invoice tracking, financial statements, and r

ent percentages.

Yardi Voyager is a larger package that involves more advanced features alongside the basic features of the Breeze package. It includes performing general ledge allocations, recording all financial transactions, tracking expenses and income from different sources, and setting up recurring expense entries. Yardi Investment Suite is the most advanced package that Yardi provides, and it includes features for managing, tracking, and analyzing investments, profits, and expenses.

As for the pricing, Yardi Breeze is priced at $1 per unit for residential properties and $2 per unit for commercial properties and costs a minimum of $100 a month. The Voyager and Investment Suite pricing goes up with the additional features.

3. QuickBooks

QuickBooks is a great app for property management bookkeeping. It gives you great general bookkeeping features, tracks your income and expenses for you by class and location, integrates with QuickBooks payments so that you can make automatic monthly e-payments, and has a user-friendly mobile app that has mileage tracking and receipt capture features.

Some features that make the app standout include location tracking, which lets you create and then track the locations of your properties so that you can see which locations are generating more profits for you; the external accountant access, which lets you involve external accountants to manage your accounts; and recurring

invoices which save you the time of having to send out manual invoices.

QuickBooks is priced depending on the package you choose, with the simplest package for one user costing $25 a month and the more advanced packages for twenty-five uses costing $180 a month. However, the application is more than worth the money, and new subscribers can get either a 30-day free trial or 50% for the first three months.

Quick Accounting Solution - Full-Service Real Estate Accountants

As your business grows, you may find that even with the latest and best real estate accounting apps available, it would be in your interest to outsource your accounting. Quick Accounting Solution may be exactly what you were looking for. Here at QAS, we manage your books while you manage the property.

Whatever your accounting and bookkeeping needs may be, the QAS team is well versed in everything related to real estate accounting and is trained to utilize the apps AppFolio, Yardi, and QuickBooks. For expert property management bookkeeping, reach out to QAS on our website https://www.quickaccountingsolution.com/scheduleacall and schedule a call.