Choosing between a general ledger tool like QuickBooks and property-specific accounting software depends on scale, reporting needs, and integrations.
Comparison Criteria
Evaluate features such as unit-level reporting, tenant ledgers, automated rent posting, and bank reconciliation workflows.
Consider the cost of manual work that specialized software can eliminate.
Integrations and Migration Considerations
Assess data migration complexity, integrations with property management portals, and long-term vendor support.
Plan for training and parallel-running periods when switching systems.
Conclusion
The right choice balances features, cost, and the amount of manual work you're willing to maintain. For portfolios with complex reporting needs, property-specific systems often pay for themselves.
