Updating post from Reddit.
Managing two BTLs and want to sort finances efficiently for tax season. Do you recommend Xero, QuickBooks, or something else that keeps track of rental income and expenses easily?
I have 4 BTL and excel works fine for me. It’s helpful to export bank statements as .CSV files and then add in a new column for which property that particular transaction was for.
I also use other tabs to keep track of capital growth, CGT liabilities and stuff like that.
Ah this great! Do you mind sharing the excel spreadsheet template? :)
I would start looking for a solution (or an accountant), as Excel wont work in the new "Making Tax Digital" world of regular reporting.
Excel is the best way but FreeAgent for landlords is very easy. If you get a mettle bank account (subsidiary of natwest) FreeAgent is completely subsidised. I suggest going that route.
Ditto that. And cheaper than QB