Hello all,
I know there are a few members on here with investment/rental properties.
I was just wondering… do you rrecommend any apps to manage your accounting/expenses?
I was hoping to use wave accounting, but that is no longer available in Australia :-(
landlordstudio looks good, but not Australian.
Some recommend xero or quickbooks, but they are getting expensive :-(
Something with a mobile app to add receipts would be good. And to track depreciating assets/expenses.
Low cost Accounting Software for Rental Properties Good for Australia?
PixelPaul on 21/08/2021 - 20:58
Last edited 21/08/2021 - 21:13 by 1 other user
Last edited 21/08/2021 - 21:13 by 1 other user
Comments
Excel is good, but not exactly easy for everything.
I also cant use it to store receipts and link it to the expense.
I am thinking, if there is anything that costs $10-$15 per month, which saves me at least 1 hr of time per week. it would be good.
You don't need to. The govt has an app or service or something where you can upload receipts as soon as you spend something and set up it's depreciation schedule immediately.
Or keep a folder with your excel file with scanned receipts named with an increasing number. Like [001] plumber.pdf and a column in your excel corresponding to the Id
And you can even hyperlink to the image and open it immediately :)
Google drive is really handy for this is use excel and then scan/photo upload everything to a relevant folder on my G drive.
Super convenient as others said you can hyperlink things from your excel sheet.
Alternatively use a Property Manager
just had a try of the app. and it is very buggy, to the point you cant even use it. a shame.
Whatever you use, don't use a reckon product!
Property tree.com
???$120 per month, thats crazy
Dunno, just know of some agents that you it.
Otherwise Xero?.be mindful though, they don't like to close accounts down after you sign up.
Was using zero years ago, not long after it launched. My accountant had signed us up, was reasonable. But when it came time to wind down the business, Xero did not want to cancel or close the accounts and kept changing. Took 4 months to have the account closed and charges were never refunded despite their promises.
Platform is otherwise good.
If you have ever had or get a depreciation schedule done by BMT you get free access to a income and expense system on through their website. It’s basic but does the job
Xero - cashbook non GST plan is $10 per month. You just need to sign up through an adviser
interesting. how feature rich is it? the website just has little details about it with no trial.
Think it's got most standard features e.g. bank feeds for reconciliations, but doesn't have extras like payroll that's already on a tiered subscription above this.
Worked well for one project I needed it for, but haven't used it much otherwise (despite me being a Xero advisor lol)
It is pretty good for property, we use it for a lot of property clients. It depends on your circumstances and what you need though.
Mybmt has one included if you use them for a depreciation report. I still use excel.
i was just looking into that. Can you only use it for the reports tho?
Or can you add new items/assets with a custom depreciation schedule?Not sure just saw the option the other day. I think you add and custom add options.
MS money is still available no option for phone PC only
Excel.