If you’re an Airbnb host or manage properties on other booking platforms, you’ve likely discovered that these online marketplaces, while excellent for getting your property in front of potential guests, aren’t exactly designed to make your life easier when it comes to accounting.
This applies to many traditional short-term rental (STR) tools, too. They can help you manage bookings and maintenance, but they tend to fall short when it’s time to crunch the numbers.
This gap in functionality can leave hosts feeling stranded amid a sea of receipts, invoices, and tax documents–wondering how to navigate the complex waters of vacation rental accounting. Whether it’s tracking income from multiple properties, managing expenses, or preparing for tax season, the right accounting tools can make a world of difference.
But with so many options available, choosing the best accounting software for your vacation rental business can seem daunting.
In this article, we survey the landscape of short-term rental accounting software by reviewing 17 popular solutions:
- Stessa
- Quickbooks
- Xero
- Quicken
- Guesty
- Hospitable
- Hostaway
- Hostify
- Escapia
- Lodgify
From automating your bookkeeping tasks to integrating seamlessly with the booking platforms you use, the right software can transform your short-term rental operation, freeing up more time for you to focus on what matters most — providing an exceptional experience for your guests.
We’ll start this review with our own platform, Stessa, used by over 200,000 landlords across the U.S.
Stessa: A tailored solution for STR owners
Software tools that simplify the accounting process while catering to the unique needs of STR owners can significantly reduce the manual work involved in handling a rental’s various transactions.
That’s where Stessa stands out. Its robust accounting features and native accounting and expense-tracking capabilities are expressly designed with rental property owners in mind.
Comprehensive accounting and financial management
Stessa offers an extensive suite of tools, making it an invaluable asset for anyone looking to efficiently manage the financial aspects of their short-term rentals. In the event that you also manage long-term rentals, Stessa’s capabilities extend beyond bookkeeping to leasing, tenant screening, landlord banking, and even rent collection.
That means Stessa can do more than keep your books in order — it can help streamline every financial aspect of your rental business.
Unique benefits for STR owners
Unlike most other tools that may require workarounds or external integrations for complete financial management, Stessa provides a seamless experience tailored to the financial tracking and reporting needs of rental property owners. Another unique perk that sets the platform apart is the Stessa Cash Management Visa debit card*, with cashback rewards, offering both convenience and value.
Compared to other software options, Stessa delivers a holistic solution for STR owners seeking to simplify their accounting tasks and gain deeper insight into their rental business’s financial health. With a user-friendly interface, mobile accessibility, and comprehensive features including STR-specific transaction categories, Stessa can be a strategic partner for growing your STR business.
Mobile accessibility and ease of use
Knowing that today’s STR owners are often on the move, Stessa offers a mobile app to scan receipts, categorize income and expenses, and access your financial data. This way, Stessa helps ensure you’re always on top of your finances, no matter where you are.
Additionally, the app allows users to manage transactions effortlessly and even showcase property photos, so you can easily track multiple properties.
Secure data imports and interactive reporting
One of Stessa’s more noteworthy features is its ability to securely import, categorize, and index expenses from various sources, including banks, lenders, credit cards, and property managers. With this capability, you can save time and reduce the margin for error in your financial reporting.
Plus, Stessa’s interactive and clickable dashboards and reports provide a clear view of your property’s financial health, enhancing your ability to make informed decisions.
Designed for all levels of experience
Whether you’re new to the world of vacation rentals or a seasoned investor, Stessa offers tools that cater to your level of expertise. Its ease of use, advanced accounting features, and solid reporting capabilities, all garner positive reviews and have made Stessa the #1 mobile app for landlords.
Moreover, Stessa offers a range of subscription plans, including a free Essentials plan and premium Manage and Pro plans, ensuring a suitable option for every budget.
It’s easy to use Stessa for short-term and vacation rental property accounting, and best of all, you can get started with Stessa for free. Here are the steps to follow after signing up for a free Stessa account:
- Use the Airbnb file importer to download your transaction history into a CSV format file, then upload the file to your Stessa account. After uploading them, Stessa will automatically categorize most (if not all) the transactions.
- Switch the rent roll to “short-term rental” on the Leases & Tenants page. Enter the anticipated nightly rental rate and occupancy for the current calendar year.
- Enter your expected monthly operating expenses on the Property Details page as a baseline to compare to your actual expenses incurred.
- Connect the bank accounts you use for receiving vacation rental income and paying expenses, along with any credit cards used for short-term rentals. Stessa will automatically categorize existing transactions and, going forward, will automatically sync vacation rental income and expenses.
Learn more about how to track short-term rentals with Stessa here.
2. Quickbooks
QuickBooks(R) is a well-known accounting software service that businesses use across various industries, including short-term rentals. It handles general business accounting needs, from tracking guest payments and cleaning expenses to tax preparation and financial reporting. Quickbooks is flexible and powerful, which can sometimes make things more complicated than they need to be, especially when it comes to vacation rental finances.
QuickBooks isn’t designed solely for short-term rental management, which may result in a steeper learning curve for hosts looking to manage their Airbnb or VRBO listings online. Also, while the software offers an extensive suite of specific tools and features, its broad focus means it may have features that aren’t as relevant for vacation rental hosts and may lack some functionality that hosts need for managing nightly bookings and variable pricing.
Accounting features
- Categorize and track expenses like cleaning fees, supplies, and utilities, making it easier to monitor costs and prepare for tax season.
- Create and send invoices through QuickBooks, allowing for streamlined payment collection from direct booking guests.
- Generate several types of financial reports to get an overview of your vacation rental’s performance.
- Organize rental income and expenses in a tax-friendly way, simplifying the tax filing process for your short-term rental business.
- QuickBooks connects with many platforms, though its compatibility with vacation rental platforms like Airbnb and VRBO may vary.
Pricing
QuickBooks has several pricing tiers, each with a different set of features. All plans come with a 30-day free trial and 50% off for the first 3 months:
- Simple Start: At $35/month, this plan has basic features like income and expense tracking, invoicing, and basic reporting.
- Essentials: Priced at $65/month, this tier includes bill management and time tracking for cleaning staff.
- Plus: At $99/month, you get additional features like project and inventory tracking for multiple properties.
- Advanced: For $235/month, this plan offers more advanced reporting and automation capabilities for larger vacation rental portfolios.
3. Xero
Xero is cloud-based accounting software for small to medium-sized businesses across numerous industries. It has robust accounting features such as invoicing, bank reconciliation, and financial reporting that can be adapted for vacation rental management.
However, Xero doesn’t have purpose-built features for short-term rental hosts. Vacation rental owners might pay for several functions they don’t need (like inventory management) and miss out on more specific features like nightly rate tracking or cleaning schedule management that specialized platforms provide.
Accounting features
- Create and send custom invoices directly from the platform for direct booking guests or service providers like cleaners and maintenance staff.
- Automatically import and categorize transactions from your vacation rental bank account, including payments from platforms like Airbnb and VRBO.
- Generate income statements, balance sheets, and other financial reports to track your short-term rental’s performance.
- Certain plans allow hosts to handle bookings in multiple currencies with exchange rates updated hourly, useful for international vacation rental listings.
Pricing
Xero has 3 pricing plans with a 30-day free trial and a discount for the first 6 months, depending on the plan selected:
- Early: Regularly priced at $20/month, this entry-level plan allows you to send 20 invoices and quotes, enter 5 bills, and reconcile bank transactions – suitable for managing a single vacation rental property.
- Growing: Regularly priced at $47/month, you get unlimited invoices, quotes, bills, and bank transactions, ideal for hosts with multiple short-term rental properties.
- Established: Regularly priced at $80/month, this top-tier plan has additional features like multi-currency support for international guests, expense claims for property maintenance, and project tracking for renovation or improvement projects.
4. Quicken
Quicken may be a good choice for people seeking general-purpose accounting software to manage personal finances along with basic features for a couple of vacation rentals.
Accounting features
- Automated tracking of vacation rental income, expenses, and loan balances by linking your bank accounts and payment platforms like Airbnb and VRBO
- Guest payment tracking for multiple short-term rental properties, including cleaning fees, security deposits, and additional charges
- Monthly financial summary generation, ability to track payments from multiple booking platforms, and automated categorization of short-term rental income
- Basic financial report generation and ability to run a Schedule E specifically for rental income to make tax reporting easier
Pricing
Quicken Business & Personal, which currently costs $3.99 per month for the first year (billed annually), then $7.99 per month from there.
5. Guesty
Guesty is a hospitality management platform designed to cater to an array of property types, from vacation rentals to B&Bs and outdoor stays. It offers an impressive range of features, including automation tools, channel management, direct booking capabilities, advanced analytics, and unique add-ons like damage protection and price optimization.
Accounting features
- End-to-end cash management
- Tailored reporting to create personal financial reports
- Automated accounting to help reduce the risk of errors
- Integration with most 3rd-party apps
Pricing
The Lite plan starts at $39/month for 1–3 listings or $27/month with annual billing. The Pro plan is for 4–199 listings, and the Enterprise plan is for 200+ listings. Contact Guesty for Pro and Enterprise plan pricing quotes.
The Pro and Enterprise plans include Guesty Accounting with an interface built to simplify complex accounting tasks.
6. Hospitable
Hospitable provides vacation rental software to streamline property management. The platform automates guest communication, calendar synchronization, and team collaboration. With direct booking capabilities, resources for business growth, and seamless integrations with essential tools and Airbnb, Booking.com, and Vrbo, it stands out for its highly rated reviews.
Accounting features
- 3rd-party accounting integrations include Clearing, VRPlatform, and Owners
- Offers no information on the website about the availability of accounting reports on the platform
Pricing
Pricing begins at $29/month for 1 property after a 14-day free trial. After that, pay only for properties where a check-in occurred in the past 30 days. 4.
7. Hostaway
Hostaway helps landlords automate and optimize vacation rental operations across major platforms like Airbnb, Vrbo, Booking.com, and Expedia. With a suite of advanced features, including property management, seamless communication tools, detailed analytics, and over 100 integration partners, the platform aims to offer reliable technology and tailor-made solutions.
Accounting features
- Owner statements with the option of adding attachments and expenses
- Aggregated financial reporting to calculate gross and net margins
- Expense tracking using custom formulas and automation
- 3rd-party integration with over one dozen accounting apps, including Ximplifi, Google Sheets, QuickBooks, and VRPlatform
Pricing
Pricing is available by inquiry only, and there are no free trials due to the time it takes to set up an account.
8. Hostify
Hostify vacation rental property management software includes a multi-calendar, channel manager, unified inbox, smart automation, and customizable booking website. The platform helps owners simplify operations with 24/7 premium support and seamless channel integration.
Accounting features
- Trust accounting, expense management, bookkeeping, payments, owner statements, reporting, and analytics through 3rd-party integration with Clearing
- Payment processing with 3rd-party apps like Stripe, PayPal, and Cardcom.solutions
Pricing
Pricing begins at $20/rental per month for 5-19 units with a 14-day money-back guarantee. Owners with 1 property can access the platform only through an annual subscription of $1,000/year. There are no onboarding fees, and you can cancel anytime.
9. Escapia
Escapia offers numerous tools to optimize property management and expand your market reach, including a performance dashboard and integrations with over 75 channel and business partners. Owners can list rentals on multiple online platforms and tap into the expansive networks of Vrbo and Expedia Group.
Accounting features
- Automates and tracks the movement of money across accounts
- Offers nearly 300 pre-built reports at no extra cost, including daily and weekly accounting reports
- Completes month- and year-end processes in minutes with dynamic, built-in reporting capabilities
- Downloads reports to multiple file formats (.xls, .pdf, .csv, .html)
Pricing
Escapia charges a flat monthly fee based on how many properties you manage. No pricing is available on the website, so you’ll need to call or complete an inquiry form to get a custom quote.
10. Lodgify
Lodgify’s suite of tools includes a proprietary website builder tailored for vacation rentals, a robust channel manager, and an intuitive booking system designed to maximize direct bookings. Unique to the platform are customizable templates to create SEO-optimized websites effortlessly and seamless synchronization of calendars and reservations across multiple platforms, enabling secure credit card payments.
Accounting features
- Tracks income and payments
- Generates invoices and statements
- Integrates with 3rd-party apps, including Clearing and Zapier
Pricing
Starter plan pricing begins at $20/month plus a 1.9% booking fee. The Professional plan starts at $50/month and the Ultimate plan at $73/month with no booking fee. Discounts are available for annual and two-year billing. All plans have a 7-day free trial with no setup fees.
*Stessa is not a bank. Stessa is a financial technology company. Terms and conditions, features and pricing are subject to change. This article, and the Stessa Blog in general, is intended for informational and educational purposes only, and is not investment, tax, financial planning, financial, legal, or real estate advice.
