QuickBooks VS Rentastic: What Your Clients Need Beyond Record-Keeping

As a small business owner or an accountant, managing finances and keeping accurate records are crucial for success. With the rise of digital solutions, there are numerous accounting software options available in the market.

Two popular choices are QuickBooks and Rentastic. Both of these platforms offer unique features and price points that cater to different types of clients. In this article, we will compare QuickBooks and Rentastic to help you make an informed decision for your clients’ accounting needs.

Features of QuickBooks

QuickBooks is a comprehensive accounting software developed by Intuit, a leader in financial management solutions. It offers a wide range of features that are suitable for various businesses, from freelancers to small and medium-sized enterprises (SMEs).

Some of the notable features of QuickBooks include:

• Financial Tracking: QuickBooks allows users to track income, expenses, and invoices easily. It also offers automatic categorization of expenses and income, making it convenient for users to analyze their financial data.
• Reporting and Analytics: QuickBooks provides robust reporting and analytics features, allowing users to generate detailed financial reports, including profit and loss statements, cash flow statements, and balance sheets. These reports help businesses make informed decisions and keep a close eye on their financial health.
• Invoicing and Payments: QuickBooks enables users to create and send professional invoices to clients, set up recurring invoices, and accept online payments. It also offers integration with popular payment gateways, making it easier for businesses to get paid faster.
• Tax Preparation: QuickBooks offers tax preparation tools that help businesses track and organize tax-related information, making filing taxes accurately and on time easier. It also offers integration with popular tax software, simplifying the tax filing process.

Features of Rentastic

Rentastic, on the other hand, is a specialized accounting software designed specifically for property managers and real estate professionals. It offers unique features that cater to the needs of businesses in the rental and property management industry.

Some of the notable features of Rentastic include:

• A user-friendly dashboard that displays all your data in a simple and easy-to-understand format, giving you a clear view of how your business is performing.
• Rentastic is trusted by dozens of investors to manage their rental property expenses, with tens of millions in real estate assets currently being tracked.
• Rentastic is easy to set up, with a desktop or mobile app available. You can create an account, add your properties, and link your bank accounts in 30 seconds or less.
• With Rentastic, you can add your bank accounts to automatically pull transactions and classify your income and expenses based on category and properties. The platform also offers a “Classification Rules” feature that lets you set up rules for common or recurring transactions to save time.

You can add your investment properties and manage purchasing and property details. Rentastic pulls available property information to auto-populate your property information, and offers access to data such as loan to value (LTV), market value, cap rate, net CFPU, annual NOI, loan balance, purchase date, interest rate, different operating values.

Price Points of QuickBooks and Rentastic

When it comes to pricing, QuickBooks and Rentastic offer different options to cater to different types of businesses.

QuickBooks provides various pricing plans to suit the needs of businesses and self-employed individuals:

Simple Start: $17/month for new micro-businesses and self-employed individuals with custom invoicing, income/expenses tracking, and receipt organization. It accommodates one user and offers a free 30-day trial and a 70% discount for the first three months.

Essentials: starting at $26/month for growing businesses with advanced features such as multi-currency, bill/payment management, and employee time tracking. It allows up to three users and includes a free 30-day trial and a 70% discount for the first three months.

Plus: starting at $36/month for established businesses with additional features such as inventory tracking, project profitability, and recurring transactions/bills. It accommodates up to five users and includes a free 30-day trial and a 70% discount for the first three months.

On the other hand, Rentastic offers two pricing plans:

Rentastic offers two pricing plans to cater to the needs of small and large property management businesses alike.

The monthly cost for the Premium Plan is $24.99, or $199 if you choose to pay annually, which averages to $16.53 per month.
The Premium Plan includes all the features of the Basic plan, as well as additional benefits such as maintenance tracking, advanced reporting, and integration with popular property management platforms.

It’s worth noting that both QuickBooks and Rentastic offer various add-ons and customization options at different price points to cater to specific business needs. With Rentastic, you can easily upgrade or downgrade your plan as your business grows or changes.

Final Thought

In conclusion, when it comes to choosing between QuickBooks and Rentastic for your client’s accounting needs, it’s essential to consider the features and price points that align with their specific requirements.

• QuickBooks is a comprehensive accounting software that offers a wide range of features suitable for different types of businesses, from freelancers to SMEs. It provides robust financial tracking, reporting, invoicing, and tax preparation tools, along with integration options with third-party applications.
• On the other hand, Rentastic is a specialized accounting software designed specifically for property managers and real estate professionals. It offers unique features such as rent tracking, property management tools, maintenance tracking, and integration with popular property management platforms.

When it comes to pricing, QuickBooks offers multiple plans catering to different business sizes and needs, while Rentastic offers two plans with options for basic and premium features.

Ultimately, the choice between QuickBooks and Rentastic depends on the specific requirements of your client’s businesses. If they are looking for a comprehensive accounting solution with a wide range of features and integrations, QuickBooks may be the better option. However, if they are in the property management industry and need specialized tools for rent tracking, property management, and maintenance tracking, Rentastic may be the more suitable choice.

It’s important to thoroughly assess the needs of your client’s businesses and compare the features and pricing of both QuickBooks and Rentastic to make an informed decision that best aligns with their accounting requirements. Always consider factors such as the size of the business, industry-specific needs, and budget when making the final decision.