This article is part of a larger series on Accounting Software.
The right vacation rental accounting software is essential for effective financial management, whether you own a single vacation rental property or a short-term property management company. We evaluated the best accounting software for Airbnb and short-term vacation rentals tailored to unique needs of the industry. We’ll reveal how these platforms can streamline finances, enhance accuracy, and manage your bookings for a seamless guest experience.
- OwnerRez: Best overall for integrating multiple listing sites
- QuickBooks Online: Best for Airbnb when integrated with Bnbtally
- Escapia: Best for short-term property management companies
- FreshBooks: Best easy-to-use accounting software
- Wave: Best free software to track income and expenses
Comparison of Best Vacation Rental Accounting Software
OwnerRez: Best Overall for Integrating Multiple Listing Sites
- Additional cost for support with setup and implementation
- Doesn’t integrate with Expedia and Google Vacation Rental
- No renter portal
- No mobile app
OwnerRez’s pricing is based on the number of units and ranges from $40 for one property to $1,472 for 500 properties. The price includes channel management and digital signatures.
Any of the Premium features—property management, QuickBooks integration, hosted sites, integrated sites and WordPress plugin, and SMS messaging—are priced separately. However, a 14-day free trial is available, and you can use any of the Premium features during that time.
The provider also offers ProConnect, a premium service that will help you set up your account and configure your features and settings. ProConnect’s costs are as follows:
- Two properties: $500
- Three to nine properties: $150 each
- 10 or more properties: $100 each
We selected OwnerRez as the best overall for integrating multiple listing sites due to its robust channel management tools and access to unlimited bookings and payments, making it an excellent scalable solution. Customers can pay using OwnerRez’s built-in payment processing feature, which is unique among all the providers we reviewed for this guide.
Direct integrations are available with many of the most popular booking channels—including Airbnb, Booking.com, Vrbo, and Tripadvisor. OwnerRez also integrates with QuickBooks Online, enhancing your accounting capabilities like customized reports to help monitor performance.
QuickBooks Online: Best for Airbnb When Integrated With Bnbtally
- Bnbtally only supports Airbnb and Vrbo platforms
- Can be a steep learning curve for novice users
- Bnbtally lacks vacation rental property management tools
QuickBooks Online Pricing
- Simple Start: $30 per month for one user
- Essentials: $60 per month for three users
- Plus: $90 per month for five users
- Advanced: $200 per month for 25 users
QuickBooks Online has a free 30-day trial. However, if you purchase a plan right away, then you get 50% off on the first three months, plus a free meeting with a ProAdvisor to get you started.
Bnbtally is priced based on the number of listings. It starts at $32 per month for the first two listings and goes up to $711 per month for 99 listings. For 100 or more listings, you must request a custom quote.
QuickBooks Online is the best accounting software for Airbnb managers when it’s integrated with Bnbtally—you get an excellent solution for tracking your vacation rental property income and expenses as well as taxes. We selected QuickBooks Online as the overall best small business accounting software for good reason, and its property management capabilities is one of them.
Meanwhile, Bnbtally allows you to connect multiple accounts and receive performance insights on your properties. It has the ability to track income, commissions, hosting charges, cleaning fees, listing performance, and cash flow.
The integration between the two platforms reduces manual entry because booking information, rental income, and expenses are automatically synced. This reduces the risk of human error, leading to more accurate financial records, and also saves significant time for property owners and accountants, allowing them to focus on more strategic tasks.
Escapia: Best for Short-term Property Management Companies
- No live chat or 24/7 customer support
- Pricing is not transparent
- No API integration with Airbnb or Booking.com
- Two-way texting is unavailable
Escapia charges a flat monthly fee based on the number of properties you manage. Pricing information isn’t available on its website; you must request a customized quote.
We selected Escapia as the best accounting solution for short-term property management companies because of its robust accounting and reporting functionality that is tailored to the needs of a property manager. We selected it as one of the best short-term rental management software because it can create consolidated statements for multiple properties, manage recurring charges, and build custom variable commission structures.
FreshBooks: Best Easy-to-Use Accounting Software
- Each plan only allows one user; a fee is charged for each additional seat
- Not able to track bank accounts without a live bank connection
- Can’t track income or expenses by class
- No integrations with vacation rental property management software
- Lite: $17 per month
- Plus: $30 per month
- Premium: $55 per month
- Select: Custom-priced
Each plan allows for one seat, and if you require additional users, they are priced at $11 per user, per month. FreshBooks offers a 30-day free trial, which you can use for the Lite, Plus, and Premium plans. No credit card is required to sign up.
We selected FreshBooks 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. While it lacks an integration with vacation property rental management apps, it has a few features within the software that are useful to owners, such as invoice status reports, a payment log, and a communication platform that allows you to communicate with guests.
Wave: Best Free Software to Track Income & Expenses
- Unable to track income and expense by classes or locations
- No property management features
- Poor customer support
- Bank reconciliation not possible when timing differences exist
Wave is free for accounting, invoicing, and receipt scanning. It charges for payment processing and additional services, but the fee is similar to what other software providers charge in addition to their monthly fee. Wave’s additional services include:
- Wave Advisor: $149 per month for bookkeeping support
- Accounting and payroll coaching: $379 per coaching session and email support
We chose Wave as the best free solution to track income and expenses, and we also included it in our roundup of the best real estate accounting software. While it lets you track income and expenses in total, the data is unavailable by property. However, you can generate month-to-month or year-by-year comparisons to determine cash flow trends. Wave Payments, its paid service, lets you accept guest payments online. You can learn more about this solution through our review of Wave Payments.
How We Evaluated the Best Accounting Software for Vacation Rentals
We considered a variety of factors in our evaluation of the best vacation rental accounting software, which includes the following:
- Features and functionality: We looked at whether the platform offers income and expense tracking specifically tailored to vacation rentals, and if it can handle multiple properties and units. We also reviewed whether it can generate invoices for guests and owners, and if it calculates taxes based on local regulations.
- Integration and compatibility: We evaluated 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. We also looked at whether it supports integration with payment gateways for seamless revenue collection.
- User-friendly interface: We considered whether the user interface is intuitive and easy to navigate, and if it offers user guides, tutorials, or training resources to help you get started.
- Automation and efficiency: We looked at whether the software automates tasks like expense tracking, income reconciliation, and tax calculations, and also if it can automatically generate financial reports or statements.
- Scalability: We considered if 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: We evaluated the available support channels, such as phone, email, and live chat, if there are any hidden costs for premium support, and if there are any limitations on the availability of customer support.
- Cost and pricing: We looked at the pricing model, whether that comes in the form of a monthly subscription, annual fee, or transaction-based), if there are fees for integrations, and if the cost is reasonable considering the features provided.
- Trial period: We also checked whether the provider offers a free trial period so that you can test the 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.
The solution should be able to apply tax rates based on your local regulations and automatically calculate 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.
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 our best accounting software for short-term rentals, while FreshBooks is what we 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.