Welcome! We are a community of AirBnb hosts

This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!

Favourite tools for accounting & business analysis?

Hiya, in the last year I’ve gone from 1 listing on Airbnb alone to 3 listings on Airbnb & booking dot com. I’m trying to get some business analysis tools together that show me (at least) a unified view of profitability.

For fellow hosts that also have multiple listings across multiple booking sites, what are your favourite tools?

[second attempt at posting this - my first attempt listed the tools I use, but was flagged as spam]

3 Likes

Welcome! Glad you posted again, it is good to learn from each other. :wink:

I am still trying our different things, but I am with Square now (on independent bookings) but have heard good things about Stripe. I’d like to research the differences between them. Square was more well known to me when I was looking into options but I am not crazy about it’s interface.

I currently use Google Sheets for my record keeping because I like that I can update things in real time. My accountant was happy with my first year … We’ll see if he has better ideas as time goes on.

Stripe is really good but the main difference is that Stripe is a payments API so might be harder to setup if you are not a developer…you could use services built on top of Stripe that do what you need to (but you’ll need to pay them extra), if Square already works for you I wouldn’t recommend to change.

I think you could connect Quickbooks or similar accounting apps to Airbnb and Booking and get a unified view of all the income

1 Like

@RiverRockRetreat may be able to expand about OwnerRez. I don’t know. Not trying to put RR on the spot or anything… But have heard excellent things.

1 Like

Does @RiverRockRetreat own OwnerRez? liked how you used Balsamiq for the illustration :blush:

Huh? What is Balsamiq and no…RR does not own OwnerRez. lol. Chris Haynes is the owner though…lol. I guess I missed the joke???

Lol wasn’t a joke, I misunderstood

balsamiq is a design/protyping tool (that whoever the owner of that site is, used in a unique manner)

Actually I know Chris is the first name of the owner. It is very popular tool. Supposedly high learning but people rave about the site well worth it. It didn’t quite meet my needs for what I need at the moment but may in the future.

1 Like

I have done this generally.

One thing to note: If you take a damage deposit from Stripe those CC funds won’t be refunded.

Another note: Square “technically” doesn’t allow their account to be used for holds on damage deposits but lots of people do it.

There is a CC credit authorization you can use also on Stripe. I haven’t tried. I am set up with both Stripe and Square.

You can read this research I did and ignore all Houfy stuff about it. But this works as good information for book direct owner in general…

Hope this helps with a general comparison…

1 Like

@cabinhost Thank you! I’m reworking a few things, in the midst of rebuilding my house site, and will check this out.
@sitebnb I need to check out QuickBooks. I used our family accountant the first year to make sure I was as above-board as I could possibly be, but I’d like to do everything on my own. (Sadistic nerd that I am, haha)

1 Like

I think you are over my tech head…lol. I don’t play in that high tech world…lol

1 Like

Definitely look at pricing. I haven’t checked into quickbooks pricing in a couple years. Is it a one time fee? But wait for @RiverRockRetreat to wake up and maybe chime in about OwnerRez. I have heard many good things and I think under $20 a month for two properties. They just didn’t have the one thing I needed is all. So def. compare.

I think this advice may be more for Americans though? Are you in U.S. From what I have heard is Stripe is generally superior when it comes to currency conversion for international users. I don’t know though.

I use quickbooks online for both of my business’s and my accountant can log on at tax time. I think it is $14.99 a month

I use Owner Res , not sure what the question is @cabinhost?

RR

1 Like

I use Stripe for CC processing, I don’t really log in, I use Xero which then calls on Stripe to take the payments (when issuing invoices). There is a control panel where you can do a lot of things by hand, but it’s very much built with the idea that it’ll be the back end to something else.

I also use uplisting.io for channel management and (on probation) Beyond Pricing for rate setting.

@uplisting is the only reason I’m able to work with booking.com and Airbnb at the same time. Support is good, and it has serviceable message automation - so I’m pretty happy there.

Beyond Pricing is expensive, and less smart than you’d hope, but I’ll stick with it for a bit.

And then - as I mentioned - Xero is there for bookkeeping / tracking of monthly profitability and for my accountant to prepare tax returns from.

That’s quite a lot of separate tools. I’ve tried & ditched loads more over the last 12 months - so any other success stories appreciated.

Altcoin Fantasy - Crypto Fantasy Trading and Simulation Game - Win Bitcoin and Altcoins!