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mkilci1
Level 1

Which version of Quickbooks for a startup LLC and 1 rental property?

Hello, I have a question with selecting a quickbooks (may be quicken) version. I am on a Mac and iOS devices. I started a new LLC company. I do photography and marketing. I also have 1 property I rent. I would like to keep track of my expenses, capture receipts (on 2 devices if possible, does not have to be 2 users) and at the end of the year do my taxes (Personal and Business) using Turbotax. What is the most economical/best way to get this done? So many versions of Quickxxx. Very confusing. My understanding I need the online Quickbooks, essential. Please advice. Thank you in advance. Happy 4th...
1 Comment 1
Rustler
Level 15

Which version of Quickbooks for a startup LLC and 1 rental property?

property rental and photography are not related so they are separate businesses and each would require a QBO subscription.  The property business would benefit from the plus subscription since it has location and class reporting tags (same as class in QBDT)

 

two businesses also mean two schedule C's with your tax return

 

personal finance is never included in a business accounting file, you must keep them separate which at the minimum means separate checking and CC accounts.  You can dedicate a personal CC to the business, it does not have to be a business CC specifically, but no personal transactions should be done using that business card

 

You ask for economical, QBO is 4-5 times the cost of desktop, with less functionality.  There are hosting programs that will host mac QB, even that would be cheaper if you actually really need 24/7 anywhere access to the accounting.

 

this a non partisan comparison of QBO vs QB desktop is about windows desktop, you should know when something is mentioned in desktop and is in Mac, 
http://onsale-apparel.com/Rustler/qbo-or-qbdt
(cost comparisons are at the end of the article)

 

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