Hey there, fellow real estate investor! If you’ve ever tried to track expenses for multiple properties using a jumbled mix of spreadsheets, notebooks, and sheer willpower, you know it’s not fun. That’s where good accounting software comes in—it can save you time, stress, and even money come tax season. But let’s be real: there’s no perfect accounting software made specifically for house flippers.
That’s why it’s so important to find the best option and learn how to use it well. Personally, I use _______—oh, you’ll just have to scroll down to see which one! But let me tell you, this one is super flexible, always evolving, and integrates with almost everything under the sun. In this guide, I’ll walk you through the top 5 picks, so you can see why my favorite takes the top spot.
Real estate bookkeeping isn’t just about recording numbers—it’s about knowing where your money is going and making strategic decisions. Here’s what you should look for:
Expense Tracking: Categorize rehab costs, property management fees, and maintenance expenses with ease.
Bank Integration: Automate transaction imports so you don’t have to manually enter every Home Depot run.
Reporting & Insights: Get clean, easy-to-read reports that show you how profitable (or not) your investments are.
Tax Prep Tools: Simplify tax season by organizing deductions and generating clean records.
Scalability: Make sure it grows with your portfolio instead of slowing you down.
Best for: Small investors who need a simple, free accounting tool.
Pros:
No cost—free forever.
Great for invoicing and tracking basic expenses.
Cons:
Not real estate-specific.
Lacks advanced features.
Limited reporting capabilities.
Best for: Property managers juggling multiple rental units.
Pros:
Handles everything from rent payments to maintenance tracking.
Great for scaling a rental portfolio.
Integrated lease tracking and tenant management.
Cons:
Overkill for flippers.
Monthly fees can add up.
Requires additional setup for financial reporting.
Best for: Real estate-specific bookkeeping and tax tracking.
Pros:
Designed for real estate investors—no weird workarounds needed.
Makes tax deductions easy to track and apply.
Streamlined financial statements by property.
Cons:
Subscription-based.
Doesn’t integrate as widely as QBO.
Limited automation features.
Best for: Rental property investors looking for a free, user-friendly option.
Pros:
Totally free to use (hard to beat that!).
Automatically tracks rental income & expenses.
Super easy to understand and use.
Cons:
Not great for flipping—best for buy-and-hold investors.
No real invoicing or bill pay options.
Limited support for complex bookkeeping needs.
Best for: Investors who want flexibility, automation, and industry-leading support.
Okay, I’m a bit biased, but for good reason. QBO is the powerhouse of accounting software. It’s what I use personally, and while it’s not built just for real estate investors, it’s so flexible that it can be customized to work really well for flipping and rental portfolios.
Pros:
Integrates with almost everything under the sun (banks, apps, tax software).
Scalable—you won’t outgrow it anytime soon.
Advanced reporting tools make tax season a breeze.
Customizable categories and transaction rules.
Works for flippers, landlords, and mixed investment strategies.
I can get you substantial discounts on QuickBooks subscriptions.
Cons:
Has a learning curve, but once you get it down, it’s a game-changer.
Monthly subscription fee.
Requires some setup for optimal real estate use.
👉 Pro Tip: I customize my QBO categories for rehab costs, property purchases, and holding expenses. It takes a little setup, but once done, it saves hours of manual work. Learn how to set up QBO categories here.
⚠️ Important: If you do not start your QuickBooks subscription through a ProAdvisor, there is no way to get a continuous discount. Don’t miss out on potential savings!
✅ For Flippers: QuickBooks Online (if you take the time to set it up properly).
✅ For Landlords: Stessa or Buildium.
✅ For Small Investors on a Budget: Wave Accounting.
When it comes to managing real estate investments, having the right accounting software can make or break your business. While many programs offer solid features, none quite match the flexibility, integrations, and automation that QBO brings to the table.
Unlike software built specifically for rentals, QuickBooks Online gives you full control over how you structure your books, whether you’re flipping houses, managing rental properties, or a mix of both. Its industry-wide compatibility means that it can grow with your business, integrating seamlessly with tax prep tools, banking institutions, and property management platforms. Plus, its reporting features allow you to make data-driven decisions that actually impact your bottom line—something most free options simply don’t offer.
Another standout feature of QBO is its ability to separate business and personal transactions with ease. This is crucial for flippers who need to track project-specific expenses accurately. Unlike more rigid software, QuickBooks allows you to create custom transaction rules that automatically categorize expenses, ensuring you always know where your money is going.
Beyond its bookkeeping capabilities, QBO’s automation features are a lifesaver for busy investors. You can set up recurring invoices, track mileage for property visits, and sync with apps like Expensify, TSheets, and BuilderTrend to streamline your workflow. If you’re serious about scaling your investment business, this level of automation can save you hours of manual work every month.
🚀 Want to streamline your bookkeeping and stop stressing over spreadsheets? Schedule a free consultation with Voyage Bookkeeping today!