2024 Accounting Software Comparisons

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Overview

REI Hub accounting software is specifically made for rental property owners and real estate investors.

Price

Receive a $50 credit when you mention STR HUB at sign-up
1-3 Units
$15/mo.
Up to 10 Units
$25/mo.
Up to 20 Units
$45/mo.
20 to Unlimited Units
$80/mo.
  • Recommended For the Following

    Individual Self-Managing Property Owners – Yes

    Property Managers and Co-hosts –  Yes, but confirm with your CPA that it will suit their needs. REIhub is best suited to owners who manage their portfolios or co-hosts who oversee a small handful of properties and do not manage direct bookings. Larger property managers and property management companies will be better served by other enterprise-level accounting solutions.

  • Features

    Double Entry Accounting – Yes

    Bill Payment –  No

    Bank Sync – Yes

    Categorization and matching of transactions – Yes

    Invoicing – No

    Payroll Integration – No

    Vendor and Contact Management – Yes

    Document and Receipt Management – Yes

    Cloud File Storage – Yes,

    P&L (Profit and Loss) Reports  – Yes

    Balance Sheets Reports– Yes

    NOI (Net Operating Income) Reports – Yes

    Basis and Depreciation Tracking – Yes

    Editable Chart of Accounts – Yes, and the default chart of accounts is already set up for the needs of real estate businesses.

    Automatic Mortgage Amortization – Yes, and REI Hub lets you set up a template for your mortgage payment, automatically splitting it into principal pay down, interest expense, and escrow contribution.

    Fixed Asset Tracking – Yes, you can track your fixed assets (including capital expenses) and the accumulated depreciation. You can track multiple fixed assets per property, each with its own helpful life and placed in service date.

    Lease Tracking – Yes

    Mileage Tracking – Yes

    Schedule E – REI Hub allows you to easily pull a Schedule E report for each property with no additional configuration. You can prorate overhead expenses across your entire portfolio.

    Mobile App – No

    Additional Features

    • REI Hub automatically helps you account for STR platform fees with unique matching rules for Airbnb and VRBO deposits.

    Customer Service – Yes, via email and phone. Phone support hours are (9am-5pm EST)

     

  • Pros
     
    • Specifically designed for rental property owners and real estate investors.
    • REI Hub automatically reports your numbers on a property-by-property (or unit) basis.
    • The default chart of accounts is already set up for the needs of real estate businesses.
    • Affordable pricing is based on the number of active units.
    • All features are available for all users.
    • Customer support is free.
    • 1st to 14th days free trial
  • Cons
    • Limited number of property management software integrations.
    • Less well-known by bookkeepers and accounting professionals than some other platforms.
    • A mobile app is currently unavailable. This would be helpful for on the go receipt capturing.  A work around is possible by logging in the website from your mobile device.
Compare This

Overview

Ximplifi provides accounting solutions customized for the vacation rental industry. Ximplifi’s accounting plug-in, VR Platform, connects property management software with Quickbooks Online or Sage Intacct to automatically record and update vacation rental revenues in real-time.

Product Offerings

  • VRConsult – Accounting software consultation and setup.
  • VR Platform – Accounting automation plug-in and integration software.
  • VR Accounting Services – Outsourced accounting services and support.

Price

Pricing for onboarding and accounting service memberships are customized according to the services needed by each client.

VRPlatform monthly subscriptions are calculated based on the number of active units.

  • Recommended For the Following

    Individual Self-Managing Property Owners – No, individual self-managing property owners are not likely to need the enterprise-level solutions of Ximplifi.  The exception would be individual owners with a large portfolio of properties.

    Property Managers and Co-hosts –  Yes.  Ximplfi is specifically designed to serve vacation rental property managers who would like to outsource aspects of their bookkeeping and accounting needs.

  • Features

    VRPlatform is an accounting automation plug-in that integrates property management systems with accounting software to simplify vacation rental bookkeeping. Features of VRPlatform automation include:

    • Ability to sync transaction data from vacation rental property management platforms into cloud-based accounting software.
    • Automatically record fees and payment data from merchant processors.
    • Automatically post and update guest invoices.
    • Automatically post management fees and owner commissions.
    • Populate, customize, and publish monthly owner statements via a secure online portal.

    Integrations:

    Setup Service – Yes, onboarding support from a live rep

    Depending on your membership level, Ximplifi’s accounting team can also perform the following accounting services on a routine basis:

    • Trust accounting (Booking payments, revenue recognition, owner ledgers, etc.)
    • AP bill entry and payment
    • Bank reconciliations
    • Monthly owner statements
    • Sales tax compliance
    • Payroll and benefits management
    • Monthly financial statement preparation
    • Monthly/Quarterly financial review and coaching
    • Budget preparation
    • Key Performance Indicator development and analysis
    • Reports & dashboard development
    • Cash projections
    • Financial modeling
    • Business planning
  • Pros
    • A time-saving solution for busy property managers who want to focus on other aspects of their business and outsource or automate accounting duties.
    • VRPlatform's API captures rich data, providing more reliable and up-to-date information compared to manual workflows.
    • Consulting services are available to assist with accounting software selection and setup.
  • Cons
    • Emphasizes the use of Quickbooks, and Sage Intacct. Both of which are great platforms, but some may prefer to use other accounting solutions.
    • An enterprise level solution that is not likely to be a good fit for individual owners with smaller portfolios.
Compare This

Overview

Clearing is a complete trust accounting and automated bookkeeping solution tailored for property managers and real estate investors to close their books each month faster than ever.  Say hello to automation and goodbye to hours in spreadsheets.

Price

Starting at $27.50 for one property and tiered by the number of properties on the platform.

One-time implementation fee of $99.00.

A 10% discount is available for annual subscriptions.

  • Recommended for the Following

    Individual Self-Managing Property Owners – Trust accounting solutions are not needed unless you are managing the funds related to other properties.

    Property Managers and Co-hosts –  Yes, Clearing is specifically designed to serve the needs of property management companies and is a solution that works at scale.

    Real Estate Investors – Clearing can be used to manage the finances of large real estate investment and management companies.

  • Features

    Automated Bookkeeping

    • PMS integration to extract reservation data
    • Matches booking information to bank account deposits
    • Each payout will have a list of items pre-categorized for you, such as cleaning fee, host fee, tax, etc.
    • Bookkeeping autopilot with custom rules
    • Export and share to Excel
    • Prepopulated with common STR industry categories
    • You can create custom categories

    Automated OTA payout allocation and reconciliation

    • Automated categorization of Airbnb and Stripe bulk payments to the correct categories and properties.

    Trust Accounting

    • Segregate funds by homeowner or group of properties
    • Leverage zero-balance accounts to automate the collection of funds to the right balance
    • Easily track property manager commissions without mixing it with homeowner payouts
    • Pay homeowners, bills, and utilities directly from Clearing via ACH

    Expense Management

    • Expenses can be split across different listings
    • Maintain accurate books at the most granular listing level
    • Add notes on transactions to collaborate with your accountant
    • Clearing will categorize and allocate transactions by property for you
    • Bring all your expenses in one place with a consistent categorization.
    • Attach receipts to any transaction.
    • Filter transactions by homeowner, property, category, and more
    • Export transactions to Excel for further analysis of your cash flow

    Streamlined Reporting

    • Real-time. As transactions happen in your bank account, credit cards, Stripe, and any other source, they will automatically be posted in your Clearing account without the need to add anything manually.
    • Customize reports by category, listing, or owner and export to Excel or PDF.
    • Clearing simplifies generating owner statements and has the owner an owner portal.
    • Profit and Loss Statements

    Integrations:

    Customer Support

    • Chat support, online form
    • Dedicated customer success rep for accounts
    • Phone support
    • Email support
  • Pros
    • The Clearing platform is intuitive and easy to use with everything you need and nothing you don't.
    • Automated allocation of line items from mass payouts from OTAs and Stripe saves an immense amount of time for STR operators doing bookkeeping.
    • Clearing virtual accounts through Evolve Bank and Trust are FDIC insured and allow property managers to create a trust accounting setup for their owners money.
    • It cuts down on the time needed to generate owner statements.
    • Different permission levels are available to collaborate with your accountant, bookkeeper, and employees.
    • Has a dedicated support team to answer any questions post-onboarding.
    • Cut down on questions from your accountant and owners with a portal where they can track their portfolio in real time.
     
  • Cons
    • The number of PMS platforms that Clearing integrates with is currently limited, but more PMS integrations are in the works.
Compare This

Overview

Provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses streamline bookkeeping processes.

Price

Free - For Accounting, Invoicing, and Banking

  • Recommended For the Following

    Individual Self Managing Property Owners – Yes

    Property Managers and Co-hosts –  Yes

  • Features

    Double Entry Accounting – Yes

    Accounts Payable – Yes

    Expense Tracking – Yes

    Bill Payment – No

    Bank Sync – Yes

    Transaction Categorization and Matching – Yes

    Invoicing – Yes

    Payroll Integration – Yes, Wave Payroll service for a monthly fee.

    Vendor and Contact Management – No

    Document and Receipt Management – Yes

    Cloud File Storage – Yes

    P&L (Profit and Loss) Reports – Yes

    Balance Sheets Reports – Yes

    NOI (Net Operating Income) Reports – Not built-in

    Basis and Depreciation Tracking – Yes

    Editable Chart of Accounts – Yes

    Automatic Mortgage Amortization – No

    Lease Tracking – No

    Mileage Tracking – No

    Mobile App – Yes (cannot upload receipts via the app)

    Customer Service

    • Free users have self-service support via the knowledge library and chatbot.
    • Bookkeeping support is $149/mo.
    • One on one accounting support packages staring at $379.
  • Pros
    • The only free double entry accounting system
    • Invoicing and banking features are free as well.
  • Cons
    • Self serve support
Compare This

Price

Simple Start Plan
$30/month
Essentials Plan
$60/month
Plus Plan
$90/month
Advanced Plan
$200/month
  • Recommended For The Following

    Individual Self-Managing Property Owners –Yes

    Property Managers and Co-hosts –  Yes

  • Features

    Double Entry Accounting – Yes

    Accounts Payable – Yes

     Expense Tracking – Yes

    Bill Payment – Yes

    Bank Sync – Yes

    Transaction Categorization and Matching – Yes

    Invoicing – Yes

    Payroll Integration – Yes, Quickbooks payroll service

    Vendor and Contact Management – Yes

    Document and Receipt Management – Yes

    Cloud File Storage – Yes

    P&L (Profit and Loss) Reports – Yes

    Balance Sheets Reports – Yes

    NOI (Net Operating Income) Reports

    Basis and Depreciation Tracking – Yes

    Editable Chart of Accounts – Yes

    Automatic Mortgage Amortization

    Lease Tracking – Sort of, it can be done with customized workflows, but not set up by default.

    Mileage Tracking – Yes, built into the mobile app.

    Mobile App – Yes

    Customer Service – Free support online or by phone

  • Pros
    • Most US accountants and bookkeepers are very familiar with Quickbooks. There is an advantage to using a platform your financial professionals are proficient with. If you plan to hire a bookkeeper, this may be the platform he/she prefers.
    • Integrates with many property management software platforms
    • Robust feature set.
    • Strong mobile app with lots of features.
  • Cons
    • One of the most expensive options.
    • As with all full-featured accounting solutions, there will be a learning curve to becoming a confident Quickbooks user.
Compare This

Overview

Full service accounting platform.

Price

3 Pricing Plans Available - Features vary by plan

Early Plan
$15/month
Growing Plan
$42/month
Established Plan
$78/month
  • Features

    Double Entry Accounting – Yes

    Accounts Payable and Expense Tracking – Yes

    Bill Payment –  Yes

    Bank Sync – Yes

    Categorization and matching of transactions – Yes

    Invoicing – Yes

    Vendor and Contact Management  – Yes

    Document and Receipt Management – Yes

    Cloud File Storage – Yes

    Reporting – Yes

    • P&L (Profit and Loss) – Yes
    • Balance Sheets  – Yes
    • NOI (Net Opertating Income) – Not automatically

    Basis and Depreciation Tracking – Yes

    Editable Chart of Accounts 

    Automatic Mortgage Amortization

    Lease Tracking 

    Mileage Tracking

    Customer Service – 24/7 online support.

     

  • Pros
    • Full-featured accounting platform
    • Competitively priced
  • Cons
    • No customer support by phone, online only.
Compare This

Overview

BILL is a leading provider of cloud-based software that simplifies, digitizes, and automates back-office financial processes for small and mid-sized businesses. Our customers come from all industries, ranging from startups to established brands and nonprofits to franchises.

Price

Accounts Payable & Receivable

Essentials
$45 user/month
Team
$55 user/month
Corporate
$79 user/month
Enterprise
Request a Demo
  • Recommended For the Following

    Individual Self Managing Property Owners – Yes

    Property Managers and Co-hosts –  Yes

  • Features

    Solutions for:

    • Accounts Payable
    • Accounts Receivable
    • Cloud-based financial document storage
    • Cloud-based financial document organization
    • Mobile payment:
      • Review
      • Approval
      • Sending

     

    Double Entry Accounting – No

    Accounts Payable – Yes

    Expense Tracking – No

    Bill Payment – Yes

    Bank Sync – Yes

    Transaction Categorization and Matching – No

    Invoicing – Yes

    Payroll Integration – No

    Vendor and Contact Management – Yes

    Document and Receipt Management – Yes

    Cloud File Storage – Yes

    P&L (Profit and Loss) Reports – No

    Balance Sheets Reports – No

    NOI (Net Operating Income) Reports – No

    Basis and Depreciation Tracking – No

    Editable Chart of Accounts – No

    Automatic Mortgage Amortization – No

    Lease Tracking – Yes, via document management.

    Mileage Tracking – No

    Mobile App – Yes

    Customer Service

    • Knowledge library
    • Live support Monday – Friday from 5am to 6pm PT
  • Pros
    • Bill.com has the potential to be a great resource for STR professionals who need to streamline operations and pass off some accounting duties to VAs or team members.  Property managers can delegate bill management and payment duties but maintain supervision and approval of payments.
    • Reduces the time spent managing and paying bills.
    • Integates with Quickbooks, Xero, Sage, Oracle NetSuite, and Microsoft Dynamics.
    • Allows you to manage bills for multiple entities from one dashboard.
  • Cons
    • Bill.com is not a full-feature accounting solution.  Users will still need to have an accounting solution that works alongside Bill.com.
    • Owners with a small portfolio may not be able to justify the subscription expense.
Compare This

Overview

BookingTrust offers Host & Trust Accounting Software and Account Management Services that save you time and money.

Designed specifically for Short-Term Holiday Accommodation, BookingTrust ensures transactional transparency and accuracy across all areas of the business, from deposits and cancellations to all the extra charges in between.

With cloud based access and streamlined PMS integrations, keep your data synced, your accounts transparent, and your clients happy.

Price

Software Pricing
$280/month for up to 60 properties (inquire for 60+ properties)
Account Management
Starting from $500/month
  • Recommended For the Following

    Individual Self Managing Property Owners – No.  Trust accounting is not necessary if you only manage your own properties.

    Property Managers and Co-hosts –  Yes, bookingtrust is specifically designed for property managers who receive reservation funds directly.

  • Features

    Booking Trust is a revenue management and trust accounting system that is meant to supplement your primary accounting platform, not replace it. 

     

    Double Entry Accounting – Yes

    Accounts Payable – Yes

    Expense Tracking – Yes

    Bill Payment – Yes, exports to bill payment platforms

    Bank Sync – No, syncs reservation payments from property management software systems.

    Transaction Categorization and Matching -Yes

    Invoicing -Yes

    Payroll Integration – No

    Vendor and Contact Management – Yes

    Document and Receipt Management – Yes

    Cloud File Storage – Yes

    P&L (Profit and Loss) Reports – Revenue reports, but not a standard P&L.

    Balance Sheets Reports – No

    NOI (Net Operating Income) Reports – No

    Basis and Depreciation Tracking – No

    Editable Chart of Accounts – No

    Automatic Mortgage Amortization – No

    Lease Tracking – No

    Mileage Tracking – No

    Mobile App – Mobile friendly website

    Customer Service – Yes, via email.

  • Pros
    • Property managers have a legal responsibility to properly account for reservation funds.  Booking Trust is a great option for PMs who want software to ensure compliance.
    • Booking Trust is also a great solution for PMs who'd prefer to outsource account management entirely.
    • Booking Trust serves customers world wide.
  • Cons
    • They may not yet integrate with your property management software.  If that is the case, they recommend you reach out to see if a solution can be found.
Compare This

Overview

Easily keep track of property performance, finances, and the paper trail that comes with investment properties – all in one place.
Free to get started, upgrade at any time to unlock advanced tools.

Price

Essential Plan
FREE
Manage
$12/month, paid annually
Pro Plan
$28/month, paid annually
  • Recommended For the Following

    Individual Self Managing Property Owners – Yes

    Property Managers and Co-hosts –  Possibly.  Stessa has a lot going for it, but it isn’t a true double-entry accounting platform.  If you are co-host and don’t handle reservation funds, Stessa could be a good solution.  If you are a property manager who handles reservation funds you should carefully evaluate Stessa’s features to determine if they will meet your needs.

  • Features

    Double Entry Accounting – No

    Accounts Payable – No

    Expense Tracking – Yes

    Bill Payment – No

    Bank Sync – Yes

    Transaction Categorization and Matching – Yes

    Invoicing – No

    Payroll Integration – No

    Vendor and Contact Management – Limited, via the notes section

    Document and Receipt Management – Yes, one-click smart receipt scanning.

    Cloud File Storage – Yes, real estate documents and receipt storage.

    P&L (Profit and Loss) Reports – Reporting available.

    Balance Sheets Reports – Yes

    NOI (Net Opertating Income) Reports – Yes

    Basis and Depreciation Tracking – Yes

    Editable Chart of Accounts – No

    Automatic Mortgage Amortization – No

    Lease Tracking – Yes

    Mileage Tracking – Yes

    Mobile App – Yes

    Full Data Export – Yes

    Accountant Tax Package – Yes, CapEx and Schedule E report is available with a Pro plan subscription. The schedule E report is an analysis tool and does not replace the Schedule E Form 1040.

    Customer Service

    • Help articles
    • Forums
    • Tutorials.

     

  • Pros
    • 100% Free Essentials plan.
    • Designed specifically for owners of residential rental properties.
    • Simplifies the tracking of net operating income, net cash flow, and effective cap rate.
    • Mobile app with easy receipt capture.
  • Cons
    • Only available in the United States
    •  Not a true double-entry accounting platform. This shouldn't be an issue for people who use Stessa to track the accounting of their own portfolio, but should be taken into consideration by property managers.
    • Certain features are not available with the Essentials plan.
Compare This

Overview

The Percentage APP is a comprehensive software that integrates Quickbooks Online, Xero, Lightspeed Restaurant POS, Poster POS, and more, giving Cloudbeds PMS users the power to supercharge their accounts. The direct booking revenues for your hotel will rise thanks to our cutting-edge booking engine solutions, and you’ll save time and money thanks to our accounting, point-of-sale, and Wi-Fi interfaces.

Price

  • Recommended for the Following

    Individual Self-Managing Property Owners – 

    Property Managers and Co-hosts –  

  • Features

    We’re not quite ready to publish our review of The Percentage App.

     

    Please write a review below and share your experience with The Percentage App.

Compare This

Overview

Avalara/ MyLodgeTax is an automated tax solution for short-term owners and property managers. It helps manage and comply with short-term rental regulations, filing of licenses and permits, and renewals.

Price

Pricing tiered by number of property

MyLodgeTax (1-5 properties)
$27/month per property
MyLodgeTax Pro (6+ properties)
$39/month per property
  • Recommended for the Following

    Individual Self Managing Property Owners – Yes

    Property Managers and Co-hosts –  Yes

  • Features

    Licensing and Permits

    • Offers processing of:
      • Lodging licenses
      • Permits
      • Renewals
    • Identifies multiple state and local tax agencies.
    • Annually applies, maintains, and renews tax licenses and permits on your behalf.

    Consolidate Data

    • Offers quick and simple input of revenue.
    • Consolidates all revenue information in one place.

    Calculate Rates

    • Monitors new tax rules and rates for:
      • City
      • County
      • City jurisdiction
    • Determines portions of lodging tax responsibility.

    Process Returns

    • It automates your lodging tax returns based on your monthly transaction data.
    • Prepares, submits, and remits lodging tax following jurisdictional deadlines.
    • Allows you to access your lodging and tax filing history.

    Integrations/ partners:

    • Vrbo
    • Evolve vacation rental
    • Turnkey
    • HomeAway
    • BookingPal
    • Rental Advisor

    Mobile App – None

    Customer Service 

    • Email
    • Chat support
    • Phone
    • Webinar series

    Other Features:

    • It also offers hospitality tax solutions for hotels and large property owners.
  • Pros
    • Taking care of monthly tax filings can feel like a burden and nuisance - especially as you scale.  Avalara taxes get it off your plate so you can focus on other things.
    • Assistance with licensing, permits, and renewals is another task most STR professionals don't relish and will happily pass off to Avalara.
    • Avalara can handle the tax issues surrounding tax payments made on your behalf by OTAs.
  • Cons
    • Avalara does not integrate with property management software.  You will still need to log into the online travel agencies or your PMS, export your revenue data, and import it into MyLodgeTax platform.