If you’re an Airbnb host, you know how important it is to keep track of your income and expenses. Proper accounting can help you save money on taxes and make better business decisions. The good news is, there are many accounting software options available to help you manage your finances. Here are some of the best accounting software for Airbnb.
Xero
Overview
Xero is a cloud-based accounting software that offers a range of features for small businesses. It includes invoicing, bank reconciliation, expense tracking, and inventory management. With Xero, you can also connect your bank accounts and credit cards, which makes tracking transactions easier.
Benefits
One of the biggest benefits of Xero is its user-friendly interface. It’s easy to navigate and understand, even if you don’t have an accounting background. Xero also has a mobile app, so you can manage your finances on the go. Additionally, Xero integrates with many other apps, such as PayPal and Stripe.
Pricing
Xero offers three pricing plans: Early, Growing, and Established. The Early plan starts at $9 per month and includes 20 invoices and 5 bills. The Growing plan starts at $30 per month and includes unlimited invoices and bills. The Established plan starts at $60 per month and includes multi-currency support and project tracking.
QuickBooks Online
Overview
QuickBooks Online is another cloud-based accounting software that’s popular among small businesses. It offers a range of features, such as invoicing, expense tracking, and payroll. With QuickBooks Online, you can also connect your bank accounts and credit cards, which makes tracking transactions easier.
Benefits
One of the biggest benefits of QuickBooks Online is its integration with other apps. QuickBooks Online integrates with many popular apps, such as PayPal and Shopify. It also has a mobile app, so you can manage your finances on the go. Additionally, QuickBooks Online offers a variety of reports, which can help you make better business decisions.
Pricing
QuickBooks Online offers four pricing plans: Simple Start, Essentials, Plus, and Advanced. The Simple Start plan starts at $25 per month and includes unlimited invoices and estimates. The Essentials plan starts at $40 per month and includes bill management and time tracking. The Plus plan starts at $70 per month and includes inventory management and project profitability tracking. The Advanced plan starts at $150 per month and includes advanced reporting and custom user permissions.
Hostaway
Overview
Hostaway is a vacation rental management software that offers a variety of features, including accounting. With Hostaway, you can track your income and expenses, as well as manage your reservations and listings.
Benefits
One of the biggest benefits of Hostaway is its integration with other vacation rental platforms, such as Airbnb and Booking.com. Hostaway also offers a mobile app, so you can manage your finances on the go. Additionally, Hostaway offers a variety of reports, which can help you make better business decisions.
Pricing
Hostaway offers three pricing plans: Lite, Professional, and Enterprise. The Lite plan starts at $5 per month and includes reservation management and channel management. The Professional plan starts at $20 per month and includes accounting and automated messaging. The Enterprise plan starts at $100 per month and includes custom branding and integrations.
FreshBooks
Overview
FreshBooks is a cloud-based accounting software that offers a range of features, such as invoicing, expense tracking, and time tracking. With FreshBooks, you can also connect your bank accounts and credit cards, which makes tracking transactions easier.
Benefits
One of the biggest benefits of FreshBooks is its user-friendly interface. It’s easy to navigate and understand, even if you don’t have an accounting background. FreshBooks also has a mobile app, so you can manage your finances on the go. Additionally, FreshBooks offers a variety of reports, which can help you make better business decisions.
Pricing
FreshBooks offers three pricing plans: Lite, Plus, and Premium. The Lite plan starts at $15 per month and includes 5 clients. The Plus plan starts at $25 per month and includes 50 clients. The Premium plan starts at $50 per month and includes unlimited clients and advanced reporting.
Wave
Overview
Wave is a cloud-based accounting software that’s designed for small businesses. It offers a range of features, such as invoicing, expense tracking, and payroll. With Wave, you can also connect your bank accounts and credit cards, which makes tracking transactions easier.
Benefits
One of the biggest benefits of Wave is that it’s free. Wave doesn’t charge a monthly fee for its accounting software, which can be a big advantage for small businesses. Additionally, Wave offers a variety of reports, which can help you make better business decisions.
Pricing
Wave is free to use. However, Wave does charge fees for some of its other features, such as credit card processing and payroll.
Zoho Books
Overview
Zoho Books is a cloud-based accounting software that offers a range of features, such as invoicing, expense tracking, and inventory management. With Zoho Books, you can also connect your bank accounts and credit cards, which makes tracking transactions easier.
Benefits
One of the biggest benefits of Zoho Books is its integration with other Zoho apps. Zoho Books integrates with other Zoho apps, such as Zoho CRM and Zoho Inventory. Additionally, Zoho Books offers a variety of reports, which can help you make better business decisions.
Pricing
Zoho Books offers three pricing plans: Basic, Standard, and Professional. The Basic plan starts at $9 per month and includes 50 contacts. The Standard plan starts at $19 per month and includes 500 contacts. The Professional plan starts at $29 per month and includes unlimited contacts and workflow automation.
FAQ
What is the best accounting software for Airbnb?
There are many accounting software options available for Airbnb hosts. Some of the best options include Xero, QuickBooks Online, Hostaway, FreshBooks, Wave, and Zoho Books.
Do I need accounting software for my Airbnb business?
Yes, accounting software can help you keep track of your income and expenses, which can save you money on taxes and help you make better business decisions.
Can I use accounting software with multiple Airbnb accounts?
Yes, most accounting software allows you to connect multiple bank accounts and credit cards, which makes it easy to track transactions from multiple Airbnb accounts.
Is accounting software easy to use?
Yes, most accounting software is designed to be user-friendly and easy to navigate, even if you don’t have an accounting background.
Can I access accounting software on my mobile device?
Yes, most accounting software offers a mobile app, which allows you to manage your finances on the go.
How much does accounting software cost?
The cost of accounting software varies depending on the provider and the features you need. Some providers offer free plans, while others charge a monthly fee.
What reports can I generate with accounting software?
Most accounting software offers a variety of reports, such as profit and loss statements, balance sheets, and cash flow statements. These reports can help you make better business decisions.
Can I integrate accounting software with other apps?
Yes, most accounting software integrates with other apps, such as PayPal and Shopify.
Pros
Accounting software can help you save money on taxes and make better business decisions. It can also save you time by automating tasks such as invoicing and expense tracking. Additionally, accounting software can help you stay organized and keep track of important financial information.
Tips
When choosing accounting software for your Airbnb business, consider your specific needs and budget. Look for software that offers features such as invoicing, expense tracking, and bank reconciliation. Additionally, consider software that integrates with other apps, such as PayPal and Shopify. Finally, choose software that is user-friendly and easy to navigate.
Summary
Proper accounting is important for Airbnb hosts. It can help you save money on taxes and make better business decisions. There are many accounting software options available for Airbnb hosts, such as Xero, QuickBooks Online, Hostaway, FreshBooks, Wave, and Zoho Books. When choosing accounting software, consider your specific needs and budget, and look for software that offers features such as invoicing,