I decided to make a stab at entering all the receipts from the rental repairs on the computer this morning. I had originally thought about using excel, but I am not very adept at setting it up. After a call to my SIL about categories and which program I should use, she recommended either Quicken or QuickBooks. Of course I don't have either one, so I will have to buy one, which means I still can't really enter anything today.
Quicken has a product designed for rental property management, which seems like it is tailor made for what we need. My SIL and accountant use QuickBooks, but the accountant said it doesn't really matter to them since they just need certain information from me to do the taxes and it doesn't matter what program I use to track it.
Once I get started on using one of these programs, I am in for the long haul, so I am wondering which I should get. I plan to incorporate all our daily expenses, etc. and both products seem to offer me the chance to do all that. QuickBooks Pro is $50.00 more than Quicken for rental properties, but I can't find product reviews for it, and the Quicken reviews for the 2013 version are mixed. I am also a little concerned that they both want to track your bank information online. I know security has come a long way, but so have hackers.
Any recommendations?
No matter what you get it will always be able to be hacked if someone really wants to and knows how
ReplyDeletetrue enough. sure wish it wasn't so.
Deletetm
No idea.....I worked at a law office that had quick books. I'm a math and computer moron so I struggled with it. It makes me uncomfortable using a program for finances for the same hacking reason.
ReplyDeleteI am with you on the lack of math and computer skills. It is really frustrating sometimes to get things to work like I want them to without a good base of knowledge. Fortunately I am surrounded by geeks. :)
Deletetm
I have never used either...so my input won't be much help. I would probably use Excel if forced to choose something because it is already on my computer.
ReplyDeleteKathy
http://gigglingtruckerswife.blogspot.com
I was sure tempted, but since we are in the beginning stages of this business, I figured it might be wise to get used to something while we were still small rather than have that huge learning curve once we grew our business a bit.
Deletetm
We have used Quicken for our home expenses for years, and I do like it. I don't have it set up to access the actual bank accounts online, but just use it track the income and expenses for them. Maybe it's just because it is an older version. My DH has used Quickbooks for his home business for years also, but I don't ever deal with that as it's his responsibility. I think they are both much easier to use than trying to set up your own excel sheets, especially if you are working with multiple accounts.
ReplyDelete