Managing finances for properties involves dozens of rent rolls, security deposits, CAM charges, and owner statements, which are all tied to specific units and lease terms. Missing invoices and payments can lead to costly errors and unhappy owners or investors. Leveraging tools like property management and bookkeeping software can help you improve how you manage rent, expenses, and financial reporting each month. But which tool is the right option for you?
| Software | Price | G2 User Rating |
 Visit AppFolio | $1.25 per unit per monthAdditional tiers: $1.50 per unit monthly and custom quote | ★★★★ 4.6 out of 5 (based on 740+ reviews) |
| Verdict: Best all-in-one property management software with deep accounting automation and trust accounting. | ||
 Visit MRI Software | Custom pricing | ★★★★ 4.2 out of 5 (based on 230+ reviews) |
| Verdict: Best enterprise-grade solution for large commercial portfolios | ||
 Visit Buildium | $50 per monthAdditional tiers: $160 monthly and custom quote | ★★★★ 4.4 out of 5 (based on 230+ reviews) |
| Verdict: Best flat-fee property management accounting software for small to mid-size portfolios. | ||
 Visit Shiftsuite Accounting | Custom pricing | ★★★★ 4.8 out of 5 (based on 10+ reviews) |
| Verdict: Best specialized condo/strata accounting software with end-to-end workflows and trust compliance. | ||
 Visit DoorLoop | $79 per monthAdditional tiers: $169 and $229 monthly | ★★★★ 4.8 out of 5 (based on 190+ reviews) |
| Verdict: Best user-friendly platform for real-time rent tracking | ||
 Visit FreshBooks | $21 monthlyAdditional tiers: $38 and $65 monthly, custom quote | ★★★★ 4.5 out of 5 (based on 900+ reviews) |
| Verdict: Best simple cloud-based accounting software for small rental property businesses. | ||
Factors to Consider When Choosing a Property Management Accounting Software
As you look for property management accounting software, focus on the features that fit your portfolio’s needs. Think about how each tool handles rent collection, expense tracking, reporting, and compliance so you can work more efficiently and avoid surprises.
Portfolio Size and Type
The best tool for your business depends largely on the size of your portfolio. If you only handle a small number of rental property units, a cloud-based property management software with simple rent tracking and bank reconciliation may be enough.
But if you oversee hundreds of properties across residential, commercial, or HOA portfolios, look for software solutions with automated lease management, accounting integration, and tenant management portals.
Commercial spaces need CAM charges and invoices, while HOAs, student housing, or vacation rentals need trust accounting rules and integration maintenance. And if you plan to grow over time, choose a system that lets you add new buildings without a costly overhaul or data migration.
Property-Specific Chart of Accounts
A flexible chart of accounts lets you break down income and expenses by property and type. You should be able to add accounts for rent, late fees, utilities, repairs, management fees, taxes, insurance, and other costs.
Custom categories make it simple to pull reports that show exactly how each building or unit performs. Look for software that lets you rename, reorder, and merge accounts with just a few clicks. With a clear, property-specific chart of accounts, closing your books and sharing accurate reports with owners or investors can easily take minutes, not hours.
Rent Collection and Payment Processing
Software that lets tenants pay rent online by ACH or credit card is also helpful, so you don’t have to deal with checks or cash. It should send rent invoices automatically and bill tenants on a set schedule each month.
A good system applies late fees on its own when rent isn’t paid on time. Moreover, it must track partial payments if a tenant pays only part of the rent and record any chargebacks.
Accounts Payable (AP) and Accounts Receivable (AR)
The accounting tool you choose should let you enter vendor and contractor bills in just a few clicks. You want to set due dates, schedule payments, and run AP reports so you never miss a bill. It should let you attach invoices or receipts to each expense. This way, you can keep your records organized and audit-ready.
On the AR side, the system needs to match incoming tenant payments to their invoices automatically. With bank-feed integration, you’ll see rent payments hit your account in real time and post them without manual entry.
Bank Reconciliation
Another important factor to consider is bank reconciliation. Your bookkeeping software should link directly to your bank and trust accounts so you get real-time transaction feeds. It should auto-match deposits and withdrawals to your rent receipts and vendor payments.
When the software can’t find an automatic match, it should let you pair transactions in just a few clicks. This helps you spot errors like unrecorded bank fees, missing payments, or duplicate entries.
Financial Reporting
Every strong bookkeeping system gives you standard financial statements like profit and loss, balance sheet, and cash flow. You should be able to run a P&L by property or by owner, so you see exactly where money comes from and where it goes.
Balance sheets show a snapshot of your assets and liabilities at any moment, while cash flow statements track how cash moves in and out of your accounts. The software should also offer property-specific reports like owner statements, tenant ledgers, delinquency and vacancy reports, budget vs. actual comparisons, and CAM reconciliations for commercial properties.
You want the power to create custom reports by choosing date ranges, properties, and specific income or expense categories. Look for tools that let you save these custom report templates so you can run them again in seconds.
Tax Management and 1099 Preparation
Good bookkeeping software has a built-in tax center that lets you tag deductible expenses like repairs, supplies, insurance, and mortgage interest. You can run a tax summary report that shows your total deductions by property and category, ready to share with your accountant or upload to tax software.
The system should also store contractor and owner information and automatically fill in 1099-NEC or 1099-MISC forms for anyone you paid more than $600. You can file these forms directly online or print and mail them with a few clicks. This keeps you IRS-compliant and saves you hours of manual work when tax season arrives.
Trust Accounting
Your software should keep owner funds, tenant deposits, and operating cash in separate, dedicated trust accounts so you never mix money. It needs full audit trails that record every deposit, withdrawal, and transfer with the date, amount, and user who made the change.
Look for easy-to-run trust-account reports showing current balances, deposit history, and disbursement logs. The system should flag any attempt to move funds out of trust accounts without approval. Make sure it follows your state’s rules for trust accounting and makes it simple to stay compliant.
Best Bookkeeping Software for Property Management
You need the right bookkeeping software to manage your properties and books. Look for tools that automate key tasks like rent tracking, bank reconciliation, and financial reporting. This way, you can focus on growing your portfolio rather than wrestling with spreadsheets.
1. AppFolio
| Summary | |
| AppFolio is a cloud-based platform designed for real estate and rental property managers. It combines property management, tenant management, and accounting features into one easy-to-use system. | |
| Pros | Cons |
| ✔️ Built-in trust accounting with full audit trails and bank reconciliation ✔️ Automated rent tracking, invoicing, and online payments (ACH & credit cards) ✔️ Mobile app for owners, tenants, and maintenance teams ✔️ Maintenance ticketing, lease management, and integration maintenance | ❌ Entry cost per unit can be high for small portfolios ❌ Limited customization ❌ No free tier—only paid packages |
Basic Features
- Automated rent invoicing, online payments, and rent tracking
- Trust accounting with segregated accounts and audit logs
- Bank feeds and automatic bank reconciliation
- Maintenance ticketing and vendor management
- Reporting dashboards for P&L by property or owner
- Lease management and tenant tracking
Pricing Plans
| Core | Plus | Premium |
| $1.25 per unit per month | $1.50 per unit per month | Custom |
| Accounting softwareTrust accountingRent tracking | Everything in CoreMaintenance managementTenant management | All Core & Plus featuresAccounting integrationAPI access |
Overview
Built for both small businesses and large enterprises, AppFolio adapts as your property business grows. AppFolio delivers an all-in-one software solution for property management teams. This cloud-based property management software includes real-time rent tracking and robust accounting software that automates bank reconciliation and expense tracking.
2. MRI Software
| Summary | |
| MRI Software is an enterprise-grade property management software with built-in accounting software, lease management, and reporting. It offers both on-premise and cloud deployment options to support large commercial portfolios with robust audit trails and customization. | |
| Pros | Cons |
| ✔️ All-in-one system for AP/AR, GL, and bank reconciliation ✔️ On-premise or cloud-based property management software with audit trails ✔️ Powerful reporting, custom dashboards, and property finances visibility ✔️ Integrates with third-party accounting software | ❌ Expensive ❌ Steep learning curve for small teams ❌ No free tier or per-unit plan |
Basic Features
- Complete AP & AR workflows with invoice and receipt attachments
- Property management accounting software tools: P&L, balance sheet, and cash-flow reports
- Lease management and tenant management modules built in
- Automated bank reconciliation and audit-ready trust accounting
- Custom reporting and integration maintenance hooks for third-party systems
Pricing Plan
Contact MRI Software for custom pricing.
Overview
As cloud-based property management software or on-premise, MRI Software handles lease tracking, trust accounting, and complex CAM charges. The built-in accounting software automates bank reconciliation and rent tracking, while its property management accounting software features deliver clear P&Ls and balance sheets. You can link data with QuickBooks or Xero for more accounting features.
3. Buildium
| Summary | |
| Buildium accounting features simplify rent billing, bank reconciliation, and tenant communication. Its flat-fee pricing plans keep costs predictable as your portfolio grows. | |
| Pros | Cons |
| ✔️ Flat-fee pricing up to 150 units ✔️ Automated rent tracking and invoices ✔️ Online tenant portal and maintenance requests ✔️ Easy bank reconciliation and budget vs. actual | ❌ No per-unit plan for very small portfolios ❌ Fewer advanced reports than enterprise tools ❌ Limited custom dashboard options |
Basic Features
- Chart of accounts tailored to rental property income and expenses
- Recurring billing and late fee rules
- Bank feeds with one-click bank reconciliation
- Tenant management with online applications and portal
- Lease management with e-signing and digital storage
Pricing Plans
| Essential | Growth | Premium |
| $50 per month | $160 per month | Custom |
| Up to 20 unitsAccounting softwareInvoicingTenant portal | Up to 150 unitsAutomated billingMaintenanceCustom reports | All Growth featuresAPI accessDedicated support |
Overview
Buildium offers a simple property management software solution for small and mid-sized real estate portfolios. With its accounting module, you get a clear view of property finances in real time. The flat-fee pricing makes it easy for clients to budget, and the all-in-one platform combines accounting software, tenant management, and maintenance workflows.
4. Shiftsuite Accounting
| Summary | |
| Shiftsuite Accounting is a cloud-based property management software built for condominium and strata communities. It provides purchase order tracking, audit-ready trust accounting, and instant financial reports to keep your strata finances clear and compliant. | |
| Pros | Cons |
| ✔️ Purchase order tracking tied directly to your accounting software ✔️ Instant financial reporting and audit-ready trust accounting ✔️ Bank integration for seamless bank reconciliation ✔️ Customizable chart of accounts and end-to-end accounting workflows | ❌ Demo required to see cost ❌ Designed for condos/HOAs, not broad commercial rental |
Basic Features
- Purchase order tracking that ties POs to your accounting software
- Instant financial reporting, including P&L and balance sheet views
- Bank integration for automatic bank reconciliation
- Customizable setup to match your strata chart of accounts
- Owner communications and automated statements
- End-to-end accounting workflows from invoices to close
Pricing Plans
Contact Shiftsuite for custom pricing.
Overview
Shiftsuite Accounting is a property management accounting software solution made for real estate and strata managers. This cloud-based property management software links to your bank for automatic bank reconciliation and gives instant financial reporting so you always see your property finances. As part of a larger software solutions ecosystem, Shiftsuite provides the tools strata businesses need to run tight, compliant accounting and strong owner communications.
5. DoorLoop
| Summary | |
| DoorLoop is a cloud-based tool with built-in accounting software for real estate and rental property managers. Its tenant portal and maintenance ticket system make communication easier and keep all lease and service request details in one place. | |
| Pros | Cons |
| ✔️ Fast setup and intuitive software interface ✔️ Real-time rent tracking and automated invoicing ✔️ One-click bank reconciliation ✔️ QuickBooks and Xero integration for seamless accounting integration ✔️ Tenant portal for easy online payments and tenant management | ❌ Limited advanced custom reporting ❌ No built-in purchase order module |
Basic Features
- Real-time rent tracking and automated invoicing for each rental property
- Bank sync with one-click bank reconciliation to match transactions in your property management ledger
- QuickBooks and Xero integration for smooth accounting integration
- Tenant portal for easy online payments and tenant management
- Custom chart of accounts tailored to real estate and rental property finances
- Instant P&L, balance sheet, and cash flow reports
Pricing Plans
| Starter | Pro | Premium |
| $79 per month | $169 per month | $229 per month |
| Core accounting softwareRent trackingTenant portal | Everything in StarterBank reconciliationAPIs | All Pro featuresAdvanced reportingUnlimited users |
Overview
DoorLoop automates rent tracking, bank reconciliation, and tenant management in one place. The software also offers bank sync and full audit trails for property finances. You get real-time dashboards showing cash flow and occupancy, so you always know exactly how your properties are performing.
6. FreshBooks Accounting Software
| Summary | |
| FreshBooks is a cloud-based accounting software that small real estate and rental property owners can use as property management accounting software. | |
| Pros | Cons |
| ✔️ Easy invoicing and automated payment reminders ✔️ Expense tracking with receipt uploads ✔️ Automatic bank reconciliation ✔️ Integrates with QuickBooks and 100+ other apps for smooth accounting integration | ❌ No built-in tenant portal or lease management ❌ Lacks trust accounting for security deposits ❌ Limited integrations for complex integration maintenance |
Basic Features
- Create and send rent or service invoices automatically
- Upload and attach expense receipts for every repair or utility bill
- One-click bank reconciliation to keep property finances in sync
- Generate profit & loss and cash flow reports in minutes
- Mobile app captures bills and payments on the go
- Integrates with payroll, CRM, and tenant management tools
Pricing Plans
| Lite | Plus | Premium | Select |
| $21 per month | $38 per month | $65 per month | Custom quote |
| 5 invoices per monthExpense trackingBasic reports | Unlimited invoicesAutomated late feesBill payment | Advanced reportsProject time trackingMultiple users | Dedicated supportCustom workflowsAPI access |
Overview
FreshBooks gives property managers a simple, all-in-one tool for handling rent invoices, expense tracking, and bank reconciliation. You can set up recurring rent bills, upload receipts from repairs or utilities, and match your bank feed with a single click. Its easy-to-use interface and mobile app let you manage payments and run P&L or cash-flow reports on the go.
Managing Real Estate and Property Finances Just Got Easier
With the right bookkeeping software in place, you get automation, reporting, and compliance features you need to run your property business smoothly and avoid costly mistakes. Now, you’ll spend less time chasing down rent rolls and reconciling trust accounts and more time growing your portfolio.
Of course, if you’d rather hand off the day-to-day bookkeeping to experts, EpicBooks can help. Get in touch and enjoy a free quote today!
