I just purchased a second home that I rent out periodically throughout the year (short-term rental) and soon to have a second vacation rental. I use VRBO and a local property manager to oversee check-in and check-out of guests but do most of the other work myself. I would like to know the best version of QuickBooks to use for bookkeeping for this type of small business. Currently I signed up for Essentials and it doesn’t seem like it will work. Is there anyone out in the community that has a similar business who can advise me on what they use that works? Thanks!
If you insist on using QB Online then you should upgrade to Plus for Class Tracking and each property is a Class. Each property takes up its own column on your Schedule E at tax time. Unless you want to there is probably no compelling need to keep track of individual guests, although by keeping track of them as Customers you will have a record when someone comes back the next year.
Set up service items for rent - if rent varies by season as it usually does you will need more than one rate. All of these rental rates will be used to post charges to a vacationer and make them billable by Class, with your own company name as the vendor
You can try our QuickBooks Online Advanced version, Summer Pace.
Other than that, you can also run advanced reports, create invoices and expenses by batch, and automate approvals and reminders.
I've added this link if you want to try our QuickBooks Online Advanced: United States QuickBooks Online Advanced.
You can also take a look at these articles about managing workflow:
Feel free to mention my name in your Reply. I'm always around if you still need my assistance. Have a great day ahead!
Hi Adrian A.
We are a vacation rental company with 17 homes under management. We are using Quickbooks Advanced and our PMS is Guesty. We are pushing the bookings from Guesty to QB via Zapier and that is working well. We are in interested in finding a QB consultant to help us set up our QB so we can take advantage of all of its capabilities. Does Intuit have consultants to work with us?
Thanks, Ray P.
Hi there, @RayPVK.
Thanks for joining the thread and I'm glad to know you're using QuickBooks Online as your business partner. I'm here to provide some insights on how to get a consultant who can help set it up. This way, you can take advantage of all its features to get you back up and running.
Yes, you have two options on how to go about this. First, you can seek assistance from our QuickBooks-certified independent accounting professionals or ProAdvisors. Second, you may contact our QuickBooks Online (QBO) Support Team.
To find a QuickBooks ProAdvisor, here's how:
For more info about QuickBooks ProAdvisor, feel free to check out this article: Find a ProAdvisor.
To get in touch with our support team, here are the steps how:
To ensure your issue gets addressed right away, please check out our support hours through this resource: QBO support hours.
Once successfully set up, you can personalize QBO to work the way you want it to. Simply modify some settings to turn features on and off. Browse this handy article for more details: Edit company settings.
I'm here to lend a hand for more questions about managing reconciliation or any QuickBooks-related concerns. Take care and have a nice day.