While Quickbooks is the industry standard for small business accounting, Quickbooks is not designed for real estate property owners. Azibo Accounting is purpose built for real estate, making it easy for you to do your accounting out of the box, along with free rent collection and a full suite of property management features.
See below how Azibo’s features stack up to Quickbooks’s offering and do the math.
Report on a property basis
Real estate investors need to report by property. Azibo is designed out of the box to generate reports by property, portfolio of properties, or in aggregate.
Quickbooks is designed to report on one operating entity holistically. Reporting by property requires lots of gymnastics or an extermely expensive plan.
Real estate specific chart of accounts
Azibo Accounting has a real estate specific chart of accounts ready to use out of the box, created by Azibo in collaboration with leading real estate CPAs.
You’ll need to set up your own chart of accounts in Quickbooks, and make sure it’s set up in a way to enable you to report by property.
Reports designed for real estate
Azibo generates real-estate specific reports such as a Schedule E tax form and a Schedule of Cap Ex. Additionally, Azibo’s P&L’s calculate Net Operating Income for real estate specifically.
Quickbooks’ reports are generic to operating small businesses and not tailored for real estate. They do not have a Schedule E nor a Schedule of Cap Ex.
Tax prep designed for real estate
Azibo generates a Schedule E tax form for you to get a jump start on your taxes. You can easily include or exclude specific transactions on your Schedule E, and Azibo’s chart of accounts defaults inclusion or exclusion into the Schedule E based on the most common treatment of that account.
Quickbooks does not have any tax prep or real estate specific tax prep features.
Free automated rent collection
Azibo offers automated rent collection with payments and invoicing designed for real estate, for free to property owners and without any ACH transaction fees to owners or tenants.
Quickbooks charges the property owner / manager 1% on ACH payments and 2.99% on card.
Collaborate with your CPA
Share access with your CPA for $8.25/month.
Quickbooks supports sharing with your CPA.
Affordable cost
Azibo Accounting is completely FREE for property owners, and sharing with your CPA only costs $8.25/month.
Quickbooks has different costs for different plans, with the plan that works best for real estate costing at least $90/ month.
Full suite of property management tools
Azibo has additional, fully integrated features to make your life easier such as applications, tenant screening, leases, eSign, document management, maintenance tracking, and banking built for real estate owners.
Quickbooks does not have any property management capabilities.
Book maintenance vendors on demand
Receive quotes and book vendors nationwide for any maintenance need through our integration with Latchel
No access to a vendor network
*Seat subscriptions are billed annually at $99/year.
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