Posted 6/12/2019 22:39 (#7556048 - in reply to #7555060) Subject: RE: Quickbooks or other book keeping software?
With Quickbooks Online Plus you can track quantities by unit using the Inventory features and you can track any enterprise using the Projects feature. Landlords can be tracked using the Classes feature. The reporting possibilities seem to be virtually endless with the custom reports, allowing you to report on anything from any date range.
It is easy to setup and use, much of which can be done on-the-fly as you go.
QBO has gotten a bit pricey @ $700+ per year with the new price increase this year, but it keeps your data securely backed up and your records are available from any browser. It is accessable from any device including your phone. You never have to update your software or manage any data files on a local drive.
You can scan in your receipts and have them attached to the transaction and it syncs flawlessly to your bank accounts, credit card accounts, PayPal account, etc. The reconciliation feature is the easiest & fastest one I have ever used. I also use it with Deluxe e-checks when needed. I can write the check in QBO and it will automatically send an e-check to the recipient if desired, or I can print the check instead.
Typically, I will scan a receipt with an app (Scanner Pro) on my phone and upload it at the time of purchase. If I pay with a bank transaction of any type my accounting is done except for reconciling the account later. All the debit/credit transactions were getting piled up before I started handling it this way about 3 years ago. The accounts are auto assigned based on previous transactions and can be proofed when downloaded.
I also use it for my trucking and contracting ventures. I can generate an invoice with any device, attach documentation, and print it or email it. Often times I will get paid the same day that I email the invoice, and my invoice is built from a managed list of products/services that I offer.
Accounting has now become easier than making the transaction with the vendor.