Jump to content

Recommendations for Accounting software/platform


Recommended Posts

Hi all - 

We're in the process of buying our first BTL under a limited company.  Luckily we have an accountant and business bank account already lined up.  My question is as this is our first (we are hoping to buy two more before the Stamp Duty holiday finishes) what is a good cloud based software to manage our transactions?  I have used Xero from another business of mine, and not overly impressed.  

Would something like Quickbooks be appropriate ?  Would something specialised like Landlord Vision be overkill as we are planning on having a property management company look after for us.

I'm about to start signing up for free trials to investigate, but any thoughts/ experience appreciated!

Link to post

If you're going to use a management company, you're not going to have much to record each month - rent in minus fees, mortgage out and then some annual things like gas checks or insurance. I'm not sure paid for software would be of value when you can just do it in excel. @Rob D used to have a spreadsheet available as part of a package but not sure if that's still available anywhere. That's the one I use and provides all the information required in the right format at year end. Takes a bit of effort to record everything if you're doing a refurb, but once they're ticking along I just spend about 15 minutes at the start of each month copying everything from the bank account into the spreadsheet.

Have a look at things like Lendlord as well, as they're free. You need to record everything manually, but again, wouldn't take long and you get nice graphs showing how your portfolio is doing and you can add in insurance dates etc and you'll get reminders when they're due. It's designed for self managing, so has more fields available than you'd need.

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...