That’s something the more expensive QuickBooks Online doesn’t do. While it’s predominantly a personal finance tool that tracks personal expenses, investments, and retirement accounts, Quicken Home & Business works well to keep track of tenants, rental rates, and lease terms for rental properties that you own. We rated Quicken as the best real estate accounting software for individuals with a few rental properties. Quicken is more focused on personal finances but can track income and expenses for rental houses and very simple businesses. The sole purpose of QuickBooks is small business accounting. QuickBooks is almost always a better option than Quicken for tracking your business’ income and expenses.
Not only is QuickBooks Online a double-entry bookkeeping system, but we also rated it our best overall small business accounting software. This enhances the reliability of income and expenses by ensuring that all changes in assets and liabilities are reflected in net income. Definition: A double-entry bookkeeping system tracks assets and liabilities as well as income and expenses.
