20 Best Real Estate Accounting Software Reviewed In 2024

Spacebase is a lease accounting and management platform designed to help businesses handle their real estate portfolios. It offers tools for managing leases, ensuring compliance with accounting standards, and streamlining reporting processes. 

Why I picked Spacebase: Spacebase's lease accounting features are tailored to help you comply with standards like ASC 842 and IFRS 16. It guides you in classifying leases as operating, finance, or short-term, ensuring your records meet current regulations. Additionally, Spacebase allows you to create custom journal entries and reports that align with your team's workflow, exporting them in formats compatible with systems like Workday, NetSuite, and Oracle. 

Standout features & integrations:

Features include invoice approval, expense management, headcount tracking, space utilization, lease accounting automation, lease classification, and the ability to set discount rates, track lease payments, and measure right-of-use assets.

Integrations include Stripe, PayPal, Square, Shopify, Amazon, Etsy, BigCommerce, WooCommerce, eBay, and FreshBooks.

Zoho Books ensures real estate managers stay on top of their financial tasks through automated invoicing, expense tracking, and tax management. It handles rent collection, property-related expenses, and insights into cash flow. 

Why I picked Zoho Books: Zoho Books is user-friendly and provides a simple way to manage rental income, expenses, and vendor payments. It lets you automate recurring transactions, making rent payments simple. You can also track your expenses to see where money is going and generate detailed financial reports to track each property’s performance. 

Standout features & integrations:

Features include automated recurring invoices to simplify billing, real-time expense tracking to manage your costs, and detailed reporting tools to give insights into your finances. You can easily track payments, categorize expenses, and generate custom reports to meet your needs. Zoho Books also helps you stay compliant by providing tax management features.

Integrations include PayPal, Stripe, Google Drive, Dropbox, Slack, G Suite, Microsoft Office 365, Twilio, Zoho CRM, and Zoho Projects.

Bench provides businesses with automated bookkeeping and financial reporting. It offers a team of bookkeepers to handle day-to-day transactions, expense tracking, categorization, and tax support, helping professionals stay on top of compliance and tax deadlines. 

Why I picked Bench: Bench provides you with a dedicated bookkeeper who handles your financial records, giving you more time to focus on running your properties. The service delivers monthly financial reports, which help you track property income and expenses, and simplifies tax season by offering year-end financial packages for your accountant. Additionally, Bench’s expert support ensures that your books are accurate and that you’re always prepared for tax time without hassle.

Standout features & integrations:

Features include a dedicated bookkeeper, real-time financial insights, and secure document sharing through Plaid. Your bookkeeper reconciles accounts and categorizes transactions, ensuring accurate records. Plus, automatic syncing with various payment processors simplifies financial management.

Integrations include Stripe, PayPal, Square, Shopify, Amazon, Etsy, BigCommerce, WooCommerce, eBay, and FreshBooks.

FreshBooks allows real estate agents and property managers to easily track income, manage expenses, and generate reports for tax preparation. It streamlines financial management tasks like invoicing, time management, and cash flow monitoring. 

Why I picked FreshBooks: FreshBooks allows you to create and send professional-looking invoices in just a few clicks. You can set up recurring billing for regular clients and automate late payment reminders, helping you get paid faster without much effort. The software also tracks your billable hours and automatically adds them to your invoices, cutting down on manual data entry. With built-in expense tracking and reporting features, it keeps your finances organized while saving you time.

Standout features & integrations:

Features include time tracking that helps you log billable hours and easily add them to invoices, automated late payment reminders to keep cash flow steady, and expense tracking to categorize and organize all your transactions. You can also create customizable invoices to match your branding.

Integrations include Gusto, Stripe, HubSpot, Shopify, Zapier, Google Workspace, Mailchimp, Slack, Fundbox, and Squarespace.

Buildium simplifies real estate accounting tasks like rent collection, property expense management, and financial report generation. It supports tax preparation and helps managers stay organized and compliant. 

Why I picked Buildium: Buildium handles everything from lease management to tracking maintenance requests. You can automate rent collection, manage payments directly through the platform, and track your properties’ financial health with its reporting features. The software also focuses on property management and simplifies complex processes like accounting and communication. 

Standout features & integrations:

Features include online rent collection, maintenance request management, and tenant screening. You can manage finances with tools for bookkeeping and automated payment processing. The platform also supports bulk messaging for easy communication with tenants.

Integrations include HappyCo, AvidXchange, TransUnion, Stripe, Tenant Turner, PayNearMe, RevSpring, Plaid, and Zapier.

DoorLoop is a property management software that offers automated rent payments, tracking expenses, and generating financial reports. It’s an all-in-one solution for managing residential and commercial properties. 

Why I picked DoorLoop: DoorLoop offers an intuitive interface that makes managing multiple properties a breeze. It simplifies rent collection by automating payments and sending reminders to tenants and keeps track of maintenance requests, making it easy to stay on top of property upkeep. With built-in financial reporting, you can quickly generate reports on income and expenses, helping you make informed decisions about your properties.

Standout features & integrations:

Features include automated rent collection, maintenance request management, customizable dashboards, and financial reporting. You can also track leases and manage tenant communications. The platform supports various property types, including residential, commercial, and self-storage.

Integrations include QuickBooks, Google Drive, Docusign, Stripe, PayPal, Mailchimp, Zillow, Apartments.com, and TransUnion.

Wave offers essential features like income and expense tracking, invoicing, and receipt management. Its user-friendly interface simplifies rental payment management, property expenses, and cash flow monitoring for small estate businesses. 

Why I picked Wave: Wave provides invoicing, payment tracking, and basic accounting features that are accessible without any fees. You can generate and send unlimited invoices, track expenses, and connect your bank accounts to import transactions automatically. It also lets you accept credit card payments and set up recurring billing, which can help streamline your income management. The best part is that you won’t be hit with unexpected costs for basic tools—everything you need to manage your finances is free.

Standout features & integrations:

Features include professional invoicing, mobile receipt management, and automated banking for easy transaction imports. The software provides advanced reporting tools and helps organize tax preparation, ensuring your business stays on track.

Integrations include PayPal, Etsy, Shoeboxed, Zapier, Stripe, Google Sheets, Google Pay, HubSpot, Mailchimp, and Square.

Patriot handles core accounting tasks like income and expense management and rent collections. It includes automated financial reporting, tenant billing, and property-specific tracking, making it a well-rounded tool for small to mid-sized real estate businesses. 

Why I picked Patriot: Patriot simplifies payroll management by automating tax calculations and filings of your property management staff. Its expense tracking and financial reporting features help manage property-related expenses such as maintenance and utilities. Additionally, the platform’s affordability is ideal for real estate professionals needing payroll and accounting tools without overspending. 

Standout features & integrations:

Features include payroll that automatically calculates and files payroll taxes, expense tracking to help manage business costs, and a general ledger for tracking income and expenses. You can also generate financial reports for your business’s financial health. 

Integrations include QuickBooks, Gusto, Xero, ADP, FreshBooks, NetSuite, Zoho Books, Sage, Wave, and TSheets.

Xendoo offers cloud-based accounting services with dedicated bookkeepers to manage property-related income, expenses, and tax filing. It comes with personalized monthly reports to keep businesses tax-ready throughout the year. 

Why I picked Xendoo: Xendoo provides dedicated bookkeeping services with experts to help real estate teams streamline financial operations. It also offers real-time access to monthly financial statements and handles tax preparation, ensuring your business stays compliant while giving you more time to focus on growth. Additionally, the platform’s fixed monthly pricing means you won’t face any unexpected costs, and it’s easy to use, which makes managing your finances more straightforward.

Standout features & integrations:

Features include personalized monthly reports, dedicated support teams, and a money-back guarantee. You can also benefit from their no onboarding fees and seamless software integrations. 

Integrations include QuickBooks Online, Xero, Shopify, WooCommerce, Amazon, Stripe, PayPal, Square, BigCommerce, and eBay.

Sage 50 provides financial management features like accounts payable and receivable, payroll processing, and budgeting for tracking and managing real estate assets, expenses, and income. It offers tools for cash flow analysis and income tracking by property. 

Why I picked Sage 50: Sage 50 provides advanced accounting features like budget forecasting, account management, asset tracking, and customizable reporting. Its automated bank reconciliation helps you maintain accurate financial records, while the platform’s inventory management enables you to track supplies and equipment. Additionally, the software supports job costing to track and manage expenses efficiently. 

Standout features & integrations:

Features include automated bank reconciliation, advanced inventory management, and job costing. You can manage your business finances with ease and generate insightful reports. The software also supports complex payroll processing to ensure compliance with tax regulations.

Integrations include Microsoft Excel, Microsoft Outlook, PayPal, Stripe, Shopify, AutoEntry, Paya, TrueCommerce, and Sage Intelligence.