I was wondering if anyone has a link to an excel ledger spreadsheet or if anyone uses the subscription bookkeeping service made specifically for short term rentals that costs about $7 a month.
I am 6 weeks in and my current hard copy bookkeeping is inefficient and not accurate.
thanks
Quickbooks. Buy it, don’t use the online version, and it’s cheaper.
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Yeah, echo the above.
We use the shoebox and marker pen method ourselves, but we do always have it presentable at end of (financial) year.
JF
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I do my own taxes with TurboTax and can get quickbooks access for free but I lack motivation to use it. I use your method @JohnF. I’m highly motivated only at tax time since I usually get a refund.
I tried Quicken when I first started, but found that it was more trouble than it’s worth. I use Personal Capital and track all of my expenditures and income through their site. You don’t have to be a PC client to register and use their tools.
I just started out so I am not sure if this will be good long term but I use wave and it’s free.
Thank you all. I am going to try Hurdlr it’s very smart phone friendly and links to our bank acct.
I don’t know if it’s the best but it’s $60 per year so I’ll let you know in a couple months how it’s working.
The general bookkeeping software companies are ok if you have the time and knowledge to modify each booking. It is nice that they connect with your bank, but they have no idea what that money is from and/or for. In other words if you receive $100 it may be a payout split by Airbnb and this is a temporary balance between you and owner, or it may be the full booking amount. It also has no clue if cleaning fees, taxes, commission is included.
@CarpeDiem, hows Hurdlr working for you so far?
I use QuickBooks Online for my bookkeeping because I have more than one listing and want to track income and expenses for each - plus my accountant supports it. To integrate Airbnb with QuickBooks, I use Bnbtally, which they’re highly reviewed in the QuickBooks App Store, they also integrate with Xero.
I have several listings and needed something more robust than spreadsheets. Wave didn’t work out for me because I also have another business that I run and my accountant doesn’t support it. I’ve never tried Quicken. I use Personal Capital for the full picture of my personal finances, but it’s not the best for keeping track of my businesses.