The best accounting software for Airbnb and short-term vacation rentals should include rent collection, trust accounting, tax tracking, and multilocation management. It could be a specialized rental accounting software like OwnerRez and Escapia or a general-purpose bookkeeping solution like QuickBooks Online, which provides rental features through third-party integration.
That said, here are the top six best accounting software for vacation rentals:
- OwnerRez: Best overall for integrating multiple listing sites
- Baselane: Best free Airbnb accounting software for managing multiple units
- QuickBooks Online: Best for managing Airbnb rentals when integrated with Bnbtally
- Escapia: Best for short-term property management companies
- FreshBooks: Best easy-to-use accounting software
- Wave: Best free software to simply track income and expenses
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Comparison of the Best Accounting Software for Short-term Vacation Rentals
Monthly Pricing | Number of Users | Free Trial | |
|---|---|---|---|
 | $40 to $1,472 | Unlimited | 14 days |
 | $0 | Undisclosed | ✕ |
 | $35 to $235 | 1 to 25 | 30 days |
 | Undisclosed | ✕ | |
 | $19 to $60 or custom | 30 days | |
 | $0 or $16 | 1 or unlimited | ✕ |
Income & Expense Tracking | Occupancy Tax Management | Trust Accounting | Multilocation Management | Payment Processing | |
|---|---|---|---|---|---|
| ✓ | ✓ | ✓ | ✓ | ✓ |
| ✓ | ✕ | ✓ | ✓ | ✓ |
| ✓ | ✓ | ✓ | ✓ | ✓ |
| ✓ | ✓ | ✓ | ✓ | ✓ |
| ✓ | ✓ | ✕ | ✕ | ✓ |
| ✓ | ✓ | ✕ | ✕ | ✓ |
OwnerRez: Best Overall for Integrating Multiple Listing Sites
Pros
- Allows you to list properties on multiple platforms like Airbnb and Booking.com efficiently
- Includes CRM features to store and organize guest records
- Provides unlimited bookings, emails, payments, and widgets
- Integrates with QuickBooks Online for enhanced bookkeeping
- Lets you communicate with guests via text
Cons
- Charges an additional cost for support with setup and implementation
- Doesn’t integrate with Expedia and Google Vacation Rental
- Has no renter portal
- Lacks a mobile app
- Offers limited customer support options
Monthly Pricing | Pricing is based on the number of units. Here’s a sample of the monthly rates:
|
Deployment Type | Cloud |
Free Trial | 14 days; can use any Premium features during that time |
Discount | ✕ |
Customer Support | Email form and an online support center |
Average User Review Rating | 4.9 out of 5 from almost 200 reviews on Capterra |
I selected OwnerRez as the best overall for integrating multiple listing sites because of its robust channel management tools and access to unlimited bookings and payments, making it an excellent scalable solution. It has an elite vacation rental channel manager status, which means it partners directly with various channels, like Airbnb, Booking.com, and Vrbo.
I also like that its integration with QuickBooks Online enhances accounting capabilities, like customized reports to help monitor performance. This makes OwnerRez one of our best short-term rental management software, particularly for QuickBooks Online integration. OwnerRez provides other tools useful for rental management, including text messaging, payment processing, a CRM, and a built-in website builder.
Standout Features
- Channel management: Channel management is included in the subscription fee, with an additional cost that varies depending on the number of properties. Direct API integrations are available with leading channels like Airbnb, Booking.com, Vrbo, and TripAdvisor.
- Tax tracking: Configure OwnerRez to calculate all taxes that are to be charged to guests, and based on this information, the software will add tax line items to quotes and bookings and send tax rules to channels that support it. When guests make bookings on those channels, those taxes will pass through for the owner to remit. Note that OwnerRez doesn’t remit any taxes on the owner’s behalf or make any tax filings.
- Messaging: You can contact guests via text to keep them informed about their stay, and if integrated with the Airbnb API, you can send and receive messages through OwnerRez’s Airbnb messaging center. It also offers personalized templates that represent your brand.
Use Cases
- Vacation rental property owners using multiple listing sites: Listing properties on various vacation rental platforms like Airbnb, Vrbo, and Booking.com can help you consolidate your bookings and manage them from a single interface.
- Vacation rental property owners seeking an all-in-one tool for managing operational tasks: If you own one or more vacation rental properties and want to efficiently manage bookings, reservations, guest communication, and other operational tasks, OwnerRez can be a valuable tool.
- Small vacation rental businesses: Smaller businesses that offer vacation rental properties can use OwnerRez to automate tasks like pricing adjustments, availability management, and client communication. Its automation features can help minimize the time spent on administrative tasks and manage properties more effectively.
Baselane: Best Free Airbnb Accounting Software for Multiple Units
Pros
- Provides free bookkeeping and property management features
- Features free guest payments via ACH transfer
- Can track an unlimited number of properties
- Includes guest screening features
- Has no minimum deposit
Cons
- Doesn’t allow landlords to collect partial payments
- Lacks routine maintenance and repair scheduling tools
- Lacks CRM features
Monthly Pricing |
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Deployment Type | Cloud |
Free Trial | N/A; always free |
Discount | ✕ |
Customer Support | Phone, live chat, email, and online guides |
Average User Review Rating | 4.3 out of 5 from about 110 reviews on Trustpilot |
I highly recommend Baselane for landlords needing a free solution for managing multiple units. Its bookkeeping and property management features are completely free to use, and once you sign up, these features are immediately available.
Baselane provides the ability to connect as many accounts as needed, set up an operating account for each unit, and open separate accounts for security deposits. Also, you can generate tax and schedule E reports as well as track income and expenses by property or unit so that you know exactly where your money goes.
Standout Features
- Virtual debit cards with spend controls: Issue virtual debit cards with spend controls for property managers or cleaners, providing per diems and earning 1% cashback on all purchases. Tag the expenses based on the Schedule E report, which will help you stay organized come tax time.
- Powerful reporting and analytics: Stay on top of your cash flow with Baselane’s powerful reporting and analytics tools. Track your income from short-term rentals, analyze your performance, and make data-driven decisions to maximize your returns.
- Baselane Banking: Baselane offers a business banking account designed specifically for collecting guest payments. Landlords or guests can deposit funds into the banking accounts, and landlords can withdraw funds as needed to cover expenses or transfer to personal accounts. Read our Baselane business checking review for more information.
- Tax Package: Generate a Tax Package or a consolidated report of your property financials, which you can easily share with your tax preparer, partner, or lender.
- Receipt upload: Whether on desktop or mobile, you can upload receipts and attach them to a transaction by dragging and dropping the attachment or snapping a picture from your mobile device.
- Transaction import: Transactions can be imported from a CSV file, which is particularly useful if you’re converting from another software. Transactions from non-Baselane accounts can be imported through bank feeds.
- Quick Pay: Rent payments that are collected into Baselane Banking are available in just two business days.
Use Cases
- Short-term rental owners seeking an all-in-one banking platform: Baselane Banking is ideal for Airbnb owners because you can link your Baselane account to your rental accounts, including Airbnb, Vrbo, and Booking.com. You can set up a separate virtual account for each rental, and they will be integrated into bookkeeping tools.
- Property managers managing multiple properties: With Baselane, you can set up an unlimited number of properties without any additional fees.
- Airbnb owners needing background screening: For those who manage rental properties and handle long-term Airbnb rentals, you might benefit from Baselane’s TransUnion Tenant Screening to evaluate potential guests. This feature provides you with everything you need for background checks, such as credit reports, criminal reports, income insights, and eviction reports.
QuickBooks Online: Best for Managing Airbnb Rentals When Integrated With Bnbtally
Pros
- Generates detailed invoices and bills for each reservation through Bnbtally
- Allows you to specify class tracking categories
- Provides chart of accounts templates for Airbnb through Bnbtally
- Allows historical data import available from Bnbtally
Cons
- Supports only Airbnb and Vrbo (through Bnbtally integration)
- Is a bit difficult to master
- Lacks vacation rental property management tools even with Bnbtally integration
Monthly Pricing | QuickBooks Online:
|
Deployment Type | Cloud |
Free Trial | 30 days |
Discount | 50% for three months |
Customer Support | Phone support (callback unless you upgrade to Advanced), live chat, chatbot, and self-help resources |
Average User Review Rating |
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I selected QuickBooks Online as the best for managing Airbnb rentals when integrated with Bnbtally because of its powerful tools for vacation rental owners. The Bnbtally integration allows you to generate detailed invoices and bills for each reservation and automates payments to invoices to streamline reconciliation.
You can monitor revenue, taxes, hosting fees, and cleaning fees, as well as track the performance of your listings. If needed, the integration also lets you monitor, rollback, and redo any data that is imported into QuickBooks Online, our overall best accounting software for small businesses because of its strong feature set and ability to create classes and locations for tracking income.
Standout Features
- Class tracking: When tracking more than one listing, it can be useful to use class tracking categories to generate P&L and balance sheet reports for each listing. You can also select class tracking categories for each line item, which is especially useful when preparing financial data for reports based on specific listings.
- Mobile app: QuickBooks Online’s mobile app is ideal for business owners who are often on the road, allowing them to view data in real time. All of the information from Bnbtally will automatically update in QuickBooks Online, ensuring that you always have the most up-to-date information.
- Historical data import: Bnbtally’s integration with QuickBooks Online allows You to import several years’ worth of reservation data. The cost for this service is priced separately in bulk, which is based on the number of months and listings imported.
Use Cases
- Bnbtally users: If you use Bnbtally and are looking for a way to enhance your bookkeeping tasks, QuickBooks Online’s integration with Bnbtally is a great option. It will also make bank reconciliation much more straightforward.
- Vacation rental property owners needing access to trust accounting: QuickBooks and Bnbtally allow for trust accounting to track Airbnb collections, property management commissions, cleaning fee allocations, and any other split needed.
- Airbnb hosts wanting to manage their bookkeeping: QuickBooks Online may have a bit of a learning curve, but once you master the basics, the benefits of the Bnbtally integration will become more apparent. Take advantage of QuickBooks Online’s robust mobile app and Bnbtally’s customized chart of accounts templates for different Airbnb business models.
Escapia: Best for Short-term Property Management Companies
Pros
- Offers free and unlimited eSignatures
- Includes calendar management tools
- Features real-time property insights
- Has no added distribution fees on direct channels
Cons
- Lacks live chat or 24/7 customer support
- Doesn’t publish pricing information
- Has no channel management tools
- Doesn’t allow two-way texting
Monthly Pricing | Escapia charges a flat monthly fee based on the number of properties you manage. You must request a customized quote. |
Deployment Type | Cloud |
Free Trial | ✕ |
Discount | ✕ |
Customer Support | Phone, email, online chat, and self-help resources, like blogs and how-to guides |
Average User Review Rating | 4.6 out of 5 from more than 150 reviews on Capterra |
I recommend Escapia for short-term property management companies because of its robust accounting and reporting functionality that is tailored to the needs of a property manager. For instance, it includes a comprehensive performance monitoring dashboard that allows managers to view consolidated year-over-year reports on rent, bookings, average daily rates, and number of nights sold.
Additionally, managers can use Escapia to create and send rental agreements to tenants and track unsigned contractors with real-time data in the dashboard. They can even track money across accounts, manage recurring owner charges, simplify year-end reports like 1099s and 1042s, and more.
Standout Features
- Reservation calendar: Escapia’s reservation calendar lets you view and manage your property’s availability over a selected period. This enables you to see dates that are available, booked, or blocked by using color coding to distinguish between the different statuses.
- Trust accounting: Escapia combines double-entry accounting and a general ledger (GL) with vacation rental management accounting requirements. It automates and tracks the movement of money across accounts, creates consolidated statements for owners of multiple properties, and provides detailed insights into monthly and year-over-year business performance.
- Dedicated implementation specialist: Unlike some providers like OwnerRez that charge for setup and implementation, Escapia gives you free access to a dedicated specialist upon enrolling. Once everything is set up, they will connect you with Escapia’s support team, who will provide ongoing support as needed.
Use Cases
- Short-term property management companies needing performance insights: Escapia offers a performance dashboard that is ideal for property management companies that specialize in short-term rentals. You’ll be able to view detailed information about your properties and compare it with the short-term rental market as a whole.
- Short-term property management companies seeking access to ongoing training and support: When you sign up, a dedicated implementation specialist will assist with transitioning your short-term rental properties to Escapia. They will work with you to develop a custom data migration plan and validate system operations. You’ll also receive free training and ongoing support once your system goes live.
FreshBooks: Best Easy-to-Use Accounting Software
Pros
- Generates easy-to-read expense reports to help manage cash flow
- Provides double-entry accounting at an affordable price
- Lets you send unlimited invoices in all its plans
- Has a mobile app available for accounting and invoicing
Cons
- Includes only one seat in the base plan; additional fee for each extra user
- Doesn’t allow you to track bank accounts without a live bank connection
- Can’t track income or expenses by class
- Has no integrations with vacation rental property management software
Monthly Pricing |
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Deployment Type | Cloud |
Free Trial | 30 days |
Discount | ✕ |
Customer Support | Phone, chatbot, community page, and a self-help library |
Average User Review Rating | 4.5 out of 5 from over 4,400 reviews on GetApp |
I selected FreshBooks, one of our top cloud accounting software, as the best easy-to-use accounting platform for vacation rental property owners because of its user-friendly interface and excellent customer support. It is also reasonably priced, with features such as a mobile app and payment processing tools.
FreshBooks lacks rental management-specific tools, but it has a few features that are useful to owners. These include invoice status reports, a payment log, and a communication platform that allows you to communicate with guests.
Standout Features
- Customer support: FreshBooks has earned a reputation for its top-notch customer support, which includes phone, live chat, and email support. It provides a direct number for customer support and an array of self-help resources like how-to articles.
- Payment processing: FreshBooks Payments Powered by WePay is one of FreshBooks’ many online payment processors that allows me to receive payment in US or Canadian dollars with credit cards and bank transfers. This makes it easier to collect payment from guests.
- Invoice status reports: It is important to know if your potential guests have paid for their stay to avoid loss of income, and FreshBooks’ invoice status reports will let you see whether a guest has viewed an invoice, has paid an invoice, or has yet to pay it. FreshBooks also allows me to notify guests of late payment after a specific amount of time.
Use Cases
- Vacation rental property owners needing low-cost and easy-to-use accounting software: Among FreshBooks’ many useful features for vacation rental property owners is a communication platform that allows me to chat with guests and answer their questions. FreshBooks also provides a payment log, which lets me track guest payments, expenses, and invoice status reports.
- Vacation rental property owners working remotely: FreshBooks’ powerful mobile app allows me to perform most of the accounting functions provided in the web interface. I can track mileage and communicate with clients directly through the app. This makes FreshBooks one of our best mobile accounting apps.
Wave: Best Free Software to Track Income & Expenses
Pros
- Has a free plan for a single user; ideal for individual landlords
- Is easy to set up and use even for beginners
- Generates different kinds of accounting reports
- Allows you to set up monthly automatic e-payments
Cons
- Doesn’t let you track income and expense by classes or locations
- Lacks property management features
- Has limited customer support in the free plan
- Doesn’t let you connect your bank accounts in the free plan
Monthly Pricing |
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Deployment Type |
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Free Trial | Cloud |
Discount | ✕ |
Customer Support |
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Average User Review Rating | 4.4 out of 5 from more than 1,600 reviews on Software Advice |
I chose Wave’s free plan, Starter, as the best free solution to track income and expenses. While it lets me track income and expenses in total, the data is unavailable by property. However, I can generate month-to-month or year-by-year comparisons to determine cash flow trends.
Landlords can accept payments from tenants using Wave Payments, a paid service that lets me accept guest payments online. Learn more about this solution through our review of Wave Payments.
Standout Features
- Reporting: Considering Wave, one of our best real estate accounting software, it is free and has robust reporting capability. Although it doesn’t allow you to customize them, it can generate a wide number of popular financial reports, including a P&L statement, balance sheet, GL, trial balance, A/P aging, A/P aging, and expenses by vendor.
- Unlimited users: There are no limitations to the number of users in the Pro plan, which makes it convenient for property owners who want to give access to their accountants or other staff members. I can also send unlimited invoices and pay minimal fees to process payments.
- Expense tracking: Vacation rentals involve various expenses such as property maintenance, utilities, and furnishings. Wave allows me to track and categorize expenses, making it easier to understand my financial situation and potential deductions.
- Invoicing: If you offer additional services to your vacation rental guests, such as cleaning fees, security deposits, activities, or extra amenities, Wave’s invoicing feature helps you to create and send professional invoices.
Use Cases
- Rental property owners seeking a free solution to track income and expenses: Wave is an effective free way to track expenses and send invoices, but it doesn’t have a lot of the other advanced features of paid programs, like separating profit by property or unit.
- Small-scale vacation rental property owners or managers: If you manage a relatively small number of properties and your financial needs are straightforward, Wave provides you with the necessary tools to effectively track the income and expenses of your vacation rental business without incurring additional costs.
- Rental property owners without accounting experience: Wave is known for its user-friendly interface, which is beneficial if you don’t have an extensive background in accounting. It also offers some level of automation in terms of categorizing transactions and bank reconciliation. While not as advanced as more specialized property management solutions, it can still save time and reduce manual data entry.
How I Evaluated the Best Accounting Software for Airbnb and Short-term Vacation Rentals
I evaluated the best accounting software for Airbnb and vacation rentals by looking into the following factors:
- Features and functionality: I looked at whether the platform offers income and expense tracking specifically tailored to vacation rentals and if it can handle multiple properties and units. I also reviewed whether it can generate invoices for guests and owners and if it calculates taxes based on local regulations.
- Integration and compatibility: I check whether the solution integrates with popular property management platforms or booking systems and if it is able to connect with bank accounts for automatic transaction syncing. I also looked at whether it supports integration with payment gateways for seamless revenue collection.
- User-friendly interface: I considered whether the user interface is intuitive and easy to navigate and if the provider offers user guides, tutorials, or training resources to help you get started.
- Automation and efficiency: I looked at whether the software automates tasks like expense tracking, income reconciliation, and tax calculations and if it can generate financial reports or statements automatically.
- Scalability: I considered whether the platform can handle an increasing number of properties and transactions as your business grows and if it offers tiered pricing plans that accommodate different business sizes.
- Customer support: I evaluated the available support channels (such as phone, email, and live chat) to see if there are any hidden costs for premium support and if there are any limitations on the availability of customer support.
- Cost and pricing: I looked at the pricing model (whether that comes in the form of a monthly subscription, annual fee, or transaction-based) to see if there are fees for integrations and if the cost is reasonable considering the features provided.
- Trial period: I checked whether the provider offers a free trial period so that you can test its software’s features and see how the solution works in practice.
Frequently Asked Questions (FAQs)
Vacation rental accounting software is a specialized tool designed to help property owners and managers efficiently manage their financial transactions and recordkeeping related to vacation rentals. It automates tasks like income and expense tracking, tax calculations, and financial reporting.
Look for features like integration with property management platforms, automated income and expense tracking, tax calculations, customizable financial reporting, and support for multiple properties or units.
It applies tax rates based on your local regulations and automatically calculates taxes for each booking. It is important to ensure that the platform supports the tax rules specific to your jurisdiction.
Vacation rental accounting software simplifies financial management for your property business. It helps you accurately track income and expenses, generate reports, and calculate taxes. This reduces manual work, ensures accurate financial records, and supports better decision-making.
Bottom Line
The best accounting software for vacation rentals depends on the needs of your business. If you are a QuickBooks user with listings on Airbnb, Bnbtally is a powerful integration that automates your accounting processes. If you list your property on multiple listing sites, consider OwnerRez. Escapia is the best accounting software for short-term rentals, while FreshBooks is what I recommend for ease of use and reasonable pricing. For a free basic option that lets you track income and expenses, Wave is a good choice.