Landlord Vision

“Tax reporting made simple

Pros

Running my rental properties is much more organized with this software because it handles all the accounts and tax reports while keeping my records accurate. It flags any missing information and quickly gives me the reports I need especially for tax filing. The platform is very user friendly, particularly version two which was built to support Making Tax Digital. Entering income and expenses is fairly easy even without being a professional accountant. And whenever I run into an issue the help desk is excellent: very responsive, efficient and always helpful when I call.

Cons

There's very little to complain about really. The only thing to keep in mind is that getting high quality reporting depends on putting in the time and effort to enter good data in the first place. That said once everything is entered the reporting and analysis features are excellent. Version 2 has also improved and organized the income and expense transaction entry screens.

“Receipt scanning done right

Pros

Receipt scanning may sound basic but aside from QuickBooks it was surprisingly hard to find software that actually handled it well. This software really delivers here. It captures every single line item from my receipts and invoices which is a huge help when I'm buying 50 items at Home Depot in one trip. That makes expense entry and categorization much faster and far more accurate. Since I'm tracking spending for a rental property in my role as a fiduciary trustee for beneficiaries that level of detail really matters. I'm impressed with almost everything about it! I spent a lot of time researching and testing at least 20 other programs and every one of them was missing something important. I specifically needed rental property software with extensive accounting and bookkeeping functions and this was the one that finally had it. I switched over after spending more than a month using a more popular platform and it was absolutely worth re-entering that month of work. I'm not even an accountant by background (I just ended up in this position) but the software still made sense to me. Another big plus is that they actually listen to users and put requested features into the product. It seems like a smaller team since I often hear back from the same support person but the response time is incredibly fast. Really everyone on their team gets back to me quickly. More than that the software feels like it was built by someone who truly understands rental property accounting from the inside out. It honestly outperforms the bigger name options I tested. I really did try them all.

Cons

A few minor things could be better. They're based in the UK so I can't switch the date format to the US style and the software doesn't include US maps. The time difference hasn't been a problem for me though. They also don't offer a large library of training videos but the ones they do have are concise and useful. On top of that their knowledge base and workflow guides are solid enough to help with most things. But I still end up emailing support about certain functions that turn out to be simple but aren't always located where I'd expect them to be in the settings. I also haven't been able to figure out how to edit the account linked to an expense category once an expense has already been assigned. That doesn't necessarily mean it can't be done, other things I assumed weren't possible actually were once I asked. The date format issue though does seem to be a real limitation. One other drawback is that (as a US customer) I had to commit to a yearly subscription because they only accept payment by bank draft that way. Still it's inexpensive and with the 30 day free trial there's enough time to decide whether it's the right fit. In the end, these are small irritations more than real problems. They may get addressed soon or they may already have a workaround I just haven't discovered yet. Either way the time saving features, layout and overall usability outweigh those issues by a wide margin.