With real estate accounting software free download, you don’t just get an accounting solution, but a complete management tool for small to medium sized real estate businesses. You’ll be able to manage your cash flow, tenants and finances. You can grow with the software and start out simple when you first get started and then add additional modules.
Which accounting software is the best for a small real estate business? What is the best real estate accounting software you can use to manage your small real estate repairs, rentals and other aspects of a small real estate business? Are there free real estate accounting software that you can download and use to manage your small real estate business?
Zoho Books
Websitewww.zoho.comPrice from$9.00/mo
Best for:
Zoho Books works well for start ups, small to medium businesses and even large brokerages. Users already working in the Zoho ecosystem will naturally turn to Zoho Books for accounting needs, but the software can also stand alone. For multi-agent groups and brokerages, Zoho Books is a good choice when integrated CRM and project management functionality is desired, such as with real estate agents who flip properties or have their own rental properties.
Key functionality:
Zoho Books is a strong double-entry accounting software product. Estimates convert to invoices easily in Zoho Books. Invoicing includes many customizable templates and the ability to pre-schedule invoices and set them to recur. The retainer feature provides for easy retainer payment management, too. Zoho’s banking module allows bank syncing and PayPal integration, along with quick and easy reconciliation, but the user can match and categorize transactions if desired. Zoho learns transactions and categories for future time-saving reconciliation.
The Zoho ecosystem offers additional modules to provide additional functions: payroll, inventory management, project management, and fixed asset management. Because payroll and CRM functionality are integrated on the Zoho platform, commission management is easy. Zoho CRM tracks funds that are due to the real estate agent, and the information is transferred quickly into Zoho Books in just a few clicks. Then, on the next payroll cycle (for W-2 employees) or immediately after closing, real estate agents are paid via the integrated payroll module.
The CRM Plus module also includes document management, allowing users to share documents both inside and outside the firm, making contract management a breeze. Mileage tracking is not only available but can be done through the apps, including the Apple Watch. However, there are no quarterly tax estimates or end of year tax prep features in Zoho Books.
Zoho Books boasts strong, customizable, schedulable reporting functions with more than 50 built-in reports. The dashboard highlights important financial data in real-time. Beyond that, users can run in-depth reports on profit and loss, balance sheet, and cash flow. Tax reports and audit trails are available, too.
Access & users:
Yet another cloud-based option, Zoho Books is accessible anywhere. Its mobile apps are popular among users and provide some of the most robust mobile offerings on the market, beyond what the competition offers. Zoho Books even targets the Apple Watch, albeit with somewhat limited functionality. Larger entities will appreciate that Zoho Books allows user-level permissions.
Ease of use:
Existing users of other Zoho modules will find the software easier to learn than new users will. It’s generally considered easy to set up and navigate although some users may find the cluttered interface a bit challenging to get used to. Zoho Books automates many essential tasks, like invoicing, reminders, payment processing, receipts, scheduling reports, and project tracking and billing. The ecosystem provides easy API integration among modules. However, if users want to integrate something outside the Zoho system, that may require additional programming.
Zoho Does provide good step by step guides and support to help users get up to speed. The Resources section on the Zoho Books website is extensive, well-organized, and developed with supporting materials.
Cost:
Like its competitors, Zoho Books offers a range of plans, making it a cost-effective option with choices. As plans progress in price, they also add features. Adding users brings additional cost, as well.
Things we liked:
- Cost effective
- Good reporting features
- Built-in mileage tracking
- User-level permissions for larger firms
- All-in-one platform capabilities
Things we didn’t like:
- Customization is challenging
- May be too many features for smaller firms
- Bank sync functionality can be problematic
CORE Back Office
CORE Back Office is a good option for the small real estate agency or brokerage. With basic accounting functionality, document management, and flexible commission calculation and direct deposit payments. CORE Back Office also features integrations—more than 30—which include QuickBooks and Zoho Dashboards.
Realty APX
Realty APX is another all-in-one option for real estate accounting needs and can be used by individual realtors or large brokerages. Features include accounting and management of documents and contracts, commissions and offers, leads and contacts, etc. Realty APX also includes a basic website with each package.
Multiview Software
This software which has 14 modules for multiple configuration deployment is suitable for any industry type. One can easily manage financial analytics and reporting, accounts payable and receivable, general ledger including budgeting, order entry with fixed assets and invoicing, etc. with this software.
| Pros | Cons |
| Very secure when it comes to data. | Difficult to create custom reports. |
| Browser based application. | Though the customer support solves the issue right away, it is sometimes glitchy. |
| Provides good financial solutions. | |
| Easy to understand. |
Realtyzam
Realtyzam is a cloud-based real estate accounting software that is popularly used to manage receipts and track expenses, which helps provide an indication of a business’ financial health. It enables real estate agents to track income and keep tabs of marketing and listing fees, commissions, and broker fees.
It is also quite useful for generating reconciliation and tax reports in order to file tax returns at the end of the financial year. As well, Real Estate agents use it to track conversion rates on a monthly or annual basis and also to provide insights into productive sales leads over a given period.
Realtyzam is available for both desktop and mobile-based platforms, including Android and iOS devices on a flat monthly subscription fee.
Xero
Best overall accounting software for real estate agents and brokerages. Xero excels at integrations, offering more than 700 of them. A double-entry accounting option, Xero can be as lean or robust as the real estate agent or broker needs, providing essential accounting tools, commission and payroll management through seamless integration with Gusto, a wide array of contract management options via integrations, and more. Plus, it’s affordable and easy to use.
Cloud-based accounting applications such as Xero enable users to synchronize data with accountants and bookkeepers, which enable businesses to run smoothly. Xero is especially useful for portfolio management where most functions are automated and easily managed remotely.
Additionally, like Back Office, Xero comes with QuickBooks integration that lets you sync data between Xero and QuickBooks.
FreshBooks
FreshBooks is an intuitive program that can be incorporated into real estate, offering tools for real estate income generation, customer lists, property tracking, and more. The interface makes it easy to manage expenses, revenue streams, banking, cash flows, invoices, taxes and receipts. Each of these can be applied in all real estate categories. Add a number of custom fields in FreshBooks for property tracking and easily manage, sort, and store critical information such as floor plans, property descriptions, lease dates, due dates, current rent, appraisal value, and maintenance. FreshBooks can be easily complemented by other accounting and budgeting software to sync with credit cards, investments and bank accounts among others.
QuickBooks Online & Enterprise
QuickBooks Online- This software comprises of really helpful real estate accounting tools and irrespective of your position as a broker or an owner; you can use it flawlessly. On the other hand, QuickBooks Enterprise is apt for managing accounting operations for mid-sized businesses across industry verticals like distribution, retail, real estate, construction, and more.
One can easily manage inventory workflows, multiple users, transaction data, locations, and more. In the USA, QuickBooks dominated the accounting software market in 2017, with 2.55 million subscribers worldwide.
| Pros | Cons |
| Provides ease of access (multiple locations and different platforms). | Spike in prices overtime. |
| Cloud-based functionality. | Limited number of users. |
| Data is always backed up. | ‘Combined reporting’ feature not available. |
| Integrates with many third-party applications. | Not so effective payroll product |
Sage Intacct
The applications of this software provide real-time operational and financial insights, along with the option of automating processes which are critical.
It helps you effortlessly manage some of the prominent accounting operations like order and cash management, accounts payable and receivable, general ledger, and more.
| Pros | Cons |
| Very flexible & easy to use. | Comparatively pricey. |
| Offers custom reports. | Not as versatile and offers less options compared to QB. |
| Cloud-based system. | No mobile app. |
| Provides many features. | Additional modules budgeting, interactive reporting cost extra. |
Wave
Best accounting software for start-up real estate agents. The only totally free option on this list is Wave, which provides the strong double-entry accounting new agents will appreciate without a financial investment. Payroll can be added for a low monthly cost, and contract management requires integrations. Tracking commissions requires some additional configuration, but it can be done.
Buildium
Pros
- Outstanding property management features
- Separate profit and loss by property
- Allocate common area expenses to properties automatically
- Inexpensive for companies with 20 units or less
Cons
- Mobile app doesn’t include accounting functions
- Lacks common accounting features like mileage tracking and receipt capture
- Not very easy to use
Buildium Pricing
- Essential: Monthly from $50 for 20 units or less to $235 for 150 units
- Growth: Monthly from $160 for 50 units or less to $5,400 for 5,000 units.
- Premium: Annual from $4,968 for 150 units or less to $159,000 for 5,000 units
If you have more than 5,000 units, custom pricing applies. Try out Buildium’s features by signing up for a free 14-day trial with no credit card required. The trial includes preloaded test data to see how Buildium works.
Buildium Standout Features
- Tenant evaluation: Buildium can help you screen tenants during the application process. This evaluation feature includes credit screening, criminal records, and eviction information. It also lets you customize credit score requirements.
- Specialized accounting functions: Buildium has all the necessary accounting functions you’ll need for real property management. It also features recurring invoices and automatic expense allocation, such as trash removal, among tenants.
- Marketing tools: Buildium can help you create listings that can be posted on managers’ websites, to Craigslist or to the entire Zillow network.
Quicken
Pros
- Very affordable
- Track P&L by property
- Manage lease terms, rental rates, security deposits, and maintenance
- Track personal finances, retirement accounts, and self-employed income
Cons
- Doesn’t track assets and liabilities so it can’t print a balance sheet
- Cannot include more than one user
- Software must be installed on your computer
PricingQuicken Pricing
- Starter: $35.99 per year for Windows and Mac
- Deluxe: $51.99 per year for Windows and Mac
- Premier: $77.99 per year for Windows and Mac
- Home & Business: $103.99 per year for Windows only
Quicken Standout Features
- Necessary accounting functions: Quicken features all the necessary accounting functions to help you manage your real estate transactions. It has invoicing templates, estimates, receivable and payable tracking, and a tax deduction finder.
- Market value tracker: Quicken can also give you quick insights on the current market value of your property portfolio that can be classified by type, sector, or the integrated Morningstar’s Portfolio X-ray tool.
- Tenant management: Quicken can help you manage your tenants in one software program, keeping track of their accounts and managing their payments easily.
- Online document storage: Quicken also has cloud storage for saving receipts and other business documents. We like this because you can keep copies of lease contracts in the cloud.
Lone Wolf Back Office
Lone Wolf Back Office is a real-estate focused option that can also serve the needs of a range of entities from the small brokerage to the larger real estate firm, including those with multiple locations. Its basic accounting functionality keeps the books in order, but its real strength is in commission management and calculation, along with contract management.
Conclusion:
If you’re running a small real estate business, then the sooner you get used to free accounting software, the better! Accounting software is more than just a tool. It helps prevent errors and gives you clear insight of your company’s financial standing. The benefits are enormous and cannot be ignored at any cost.