Accounting program or stick with Excel?

[EsplanFreedom]

Hi all,

What accounting programs do you use to record your income and expenses for IPs? I have used excel spreadsheets for years but have been wondering if an accounting program such as Xero or Myob will be more reliable?

Thanks

 

[Terry_w]

I have used a few, but back to excel. Simple and effective.

 

[Ausprop]

myob is a pain, keep it simple, stick to excel

 

[EsplanFreedom]

Thanks. Will stick to Excel then

 

[Nth Brisbanite]

Thanks. Will stick to Excel then

Excel is usually good enough if you only a few IPs. However once it get's a more complicated I would use Quickbooks or MYOB which are not all that hard to use. The most simple MYOB program is very cheap.

 

[Logica]

Consider using the PIA software developed by the hosts of the forum: Somersoft

 

[Jamie M]

Hi all,

What accounting programs do you use to record your income and expenses for IPs? I have used excel spreadsheets for years but have been wondering if an accounting program such as Xero or Myob will be more reliable?

Thanks

Excel.

I've got a page set up for each IP - with a summary page at the front. Income on one side, expenses on the other. Spend 10 minutes a month updating.

If you use a cloud program like dropbox you can access your IP spreadsheet from any device and update.

Cheers

Jamie

 

[MaxwellSmart]

I use Quicken Rental Property Manager 2013.

I rate it highly.

 

[locko24]

I use Quicken Rental Property Manager 2013.

I rate it highly.

Hi maxwellsmart.
Where did you purchase your version of quicken? It seems any purchase of the online version is only available in the us!

 

[MaxwellSmart]

Hi maxwellsmart.
Where did you purchase your version of quicken? It seems any purchase of the online version is only available in the us!

Hi. I'm using the Canadian version.

PM'd you.

 

[iookpa]

I use MYOB.

Absolute pain to learn, but well worth it!

 

[Rixter]

Consider using the PIA software developed by the hosts of the forum: Somersoft

I think you will find PIA is a Property Portfolio Analysis software and not a Property Portfolio Accountancy software.

 

[Rixter]

I use Property Manager Pro. It records everything my accountant requires plus more. Also a program to track rent rolls etc for investors who want to self manage. I purchased it for $100 from Harvey Norman 13 years ago.