You can connect bank or credit card accounts, and have every transaction tracked automatically for you to review and categorize as expenses later.
Enjoy unlimited storage by scanning or uploading digital receipts of all your expenses, so you can easily comply with the IRS bookkeeping standards.
Effective and intuitive accounting solution made for landlord
Streamline the bookkeeping and stay confident in compliance
You can set the depreciation schedule of a capital expense, and let us automate the calculation, so, you are informed of the current basis at any time.
Expenses can be visualized in a sunburst chart for a specific category, property, and entire portfolio, so, you can see the spending patterns.
Yes, in fact, CPAs recommend our approach over monitoring bank accounts for two reasons:
1) tracking and categorizing expenses through a bank account does not alleviate you from archiving expense receipts. Per IRS standards, you are required to retain original receipts or its digital copy for up-to 7 years.
2) certain expenses are often categorized wrong (such as mortgage payments, which you need to remove the principal portion, and capital expenses).
With our integrated accounting, we make digitizing receipts so simple and quick that you can practically add expense with digital receipts attached under 15 seconds, saving you time while mitigating compliance risk.
Tracking depreciation helps you to estimate the remaining tax basis at any time. For planning purpose, it helps you to understand your capital gains if you were to sell the property.
Yes, your expense data is securely stored, and we will never share your expense data to any third party. In addition, you can also export all the raw financial data at any point.
For a self-managing landlord, it may not be necessary. QuickBooks is for business and property management companies, and to use it for self-managing properties is like to bring a sledgehammer to crack a nut.
It's for both. You can select account method dropdown to view either the cash-basis or the accrual-basis accounting results.