10 Best Accounting Software for Airbnb (2023)

Successfully managing the finances of an Airbnb rental requires tracking myriad expenses like cleaning, toiletries, repairs, mortgage, utilities, and more against booking revenue. However, the unique needs of short-term rental accounting can overwhelm basic small business systems. The ideal solution provides the rentals, income tracking, tax planning, and reporting features essential for maximizing Airbnb profits.

This post explores 10 leading accounting solutions for Airbnb based on rental management, channel integrations, tax support, mobility, analytics, and overall value optimizing financials and growth. Any Airbnb hosts can benefit from adopting one of these platforms purpose-built to handle their financial workflows.

What is best accounting software for Airbnb hosts?

Here is a table summarizing the pros and cons of accounting software options for Airbnb hosts:

SoftwareProsCons
QuickBooks OnlineWidely used small business platformLacks rental-specific features
XeroAffordable; connects bank feedsLimited automation beyond accounting
STR HelperSpecialized for short-term rentalsSmaller company with limited support
LodgifyUnified rental management solutionExpansive toolset has learning curve
HostfullyFocused on rental accounting and taxesLight on listing management capabilities
QuickBooks Self-EmployedOptimized for 1099 earners like AirbnbUnable to track multiple properties
PillowEnd-to-end Airbnb managementPricier for basic accounting needs
Ninox Airbnb ManagerPurpose-built Airbnb accountingLimited capabilities beyond bookkeeping
WooblyChannel synced; cleanings; pricing; accountingStill new product with limited support
AvailAffordable essentials for basic trackingVery lightweight; no customization

QuickBooks Online

QuickBooks Online provides one of the most popular small business accounting systems used by Airbnb hosts. It covers core accounting like invoicing, expenses, bank feeds, and reporting. Class tracking attribute income and expenses to specific properties for monitoring performance.

Third-party integrations connect channel data from Airbnb. Mobile mileage tracking assists driving expense deductions. QuickBooks Self-Employed plans optimize taxes. While a general solution, QuickBooks Online delivers essentials for Airbnb accounting.

Xero

Xero offers a leading accounting platform for Airbnb and other sharing economy earners. Users can automatically import Airbnb transaction details into the accounting system. Bank feed connections reconcile transactions in real-time. Xero Tax automates sales and lodging tax calculations.

Robust reporting provides rental analytics and tax planning insights. The mobile app enables tracking miles and expenses on the go. While light on rental-specific features, Xero provides solid accounting fundamentals for Airbnb income and expenses.

STR Helper

Designed specifically for short-term rental financial management, STR Helper centralizes listing details from Airbnb and other channels for unified accounting. It tracks all rental income, expenses, mileage, cleaning fees, and more in one place for taxes. Users can import channel payout reports for reconciling.

Calculators assist hosts in setting optimal nightly rates for profit. Tax planning tools support deductions maximization. For purpose-built STR accounting, STR Helper warrants first look for Airbnb hosts.

Lodgify

Lodgify provides Airbnb hosts an all-in-one rental management solution covering channel management, booking, and accounting. Listings integrate across Airbnb, Vrbo, Booking.com, and more for centralized calendars and revenue data. The accounting component handles invoicing, expenses, reports, and bills.

Automatic channel imports reconcile income and fees across linked accounts. Custom fields capture rental-relevant accounting data like cleaning costs. Lodgify delivers a unified rental solution encompassing essential accounting.

Hostfully

Hostfully specializes in short-term rental management solutions for Airbnb hosts. Its tools simplify tracking rental income and expenses across multiple properties in one place. Users can import payout reports from Airbnb and other channels. 100+ expense categories cater to common host costs from cleaning to utilities.

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Mileage logs assist tracking driving. Hostfully generates profit and loss statements and tax documents for simplified filing. For STR-streamlined accounting and taxes, Hostfully provides excellent value.

QuickBooks Self-Employed

QuickBooks Self-Employed offers an IRS-approved accounting solution optimized for 1099 income like Airbnb earnings. It automatically categorizes transactions as business or personal to simplify expense deductions. Mileage tracking assists calculating rental-related driving costs.

Quarterly and annual tax summaries help file and maximize rental deductions. Instant Schedule C creation saves hours of paperwork. QuickBooks Self-Employed provides ideal accounting capability for Airbnb and other 1099 filers managing their own finances.

Pillow

Pillow provides an all-in-one Airbnb management solution combining listing management, channel integrations, messaging, and accounting. Syncing reservations centralizes booking data for tracking rental income automatically. The interface enables toggling between properties to track individual performance.

Expenses can be marked to specific listings. Mileage tracking assists tax itemization. Reports provide actionable rental analytics. For unified Airbnb accounting and management, Pillow is a top choice.

Ninox Airbnb Manager

The Airbnb Manager database from Ninox delivers purpose-built Airbnb tracking and accounting capabilities in a spreadsheet-like interface. Hosts can import reservation data from Airbnb then log associated expenses for reconciling. Property management tools assist maintenance planning.

Built-in dashboards highlight rental income, expenses, and profitability metrics. For independent hosts managing their own STR accounting, Airbnb Manager provides an easy-to-use specialized solution.

Woobly

Woobly offers Airbnb hosts an all-in-one management toolkit combining channel integrations, messaging, cleaning coordination, pricing tools, and accounting capability. Listings stay synced across platforms with calendars and rates optimized automatically.

The accounting component tracks earnings, expenses, and mileage tied to each property. Assistance calculating taxes and deductions maximizes filings. For automated unified Airbnb management, Woobly is worth evaluating.

Avail

For independent Airbnb hosts, Avail provides an affordable short-term rental solution combining channel management, messaging, and simple accounting. Avail syncs reservations across channels for centralized calendars. The system automatically tracks associated earnings and expenses.

Hosts can generate income reports and export details for taxes. However, Avail lacks more advanced accounting capabilities. But for basic Airbnb financial tracking alongside listing management, Avail delivers solid value.

FAQs

What is the best accounting software for Airbnb hosts? The best accounting software for Airbnb hosts can vary depending on your specific needs and preferences. Popular options include QuickBooks, Xero, and Wave.

Does QuickBooks work with Airbnb? Yes, QuickBooks can be used by Airbnb hosts to manage their accounting and track income and expenses.

How to do bookkeeping for an Airbnb? To do bookkeeping for an Airbnb, you should track all income and expenses related to your property. Keep detailed records of rental income, cleaning fees, maintenance costs, and other expenses.

How do I record Airbnb income in QuickBooks? You can record Airbnb income in QuickBooks by creating an income account specifically for your Airbnb rental income. Then, enter each Airbnb booking as a sales receipt or invoice, categorizing the income appropriately.

How do I track my Airbnb income and expenses? You can track your Airbnb income and expenses by using accounting software like QuickBooks, where you can categorize and record all transactions related to your Airbnb property.

How do I keep my Airbnb income and expenses? To keep track of your Airbnb income and expenses, maintain organized records, save receipts and invoices, and use accounting software or spreadsheets to manage your finances.

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Can I run my Airbnb through my business? Yes, you can run your Airbnb through a business entity like an LLC or sole proprietorship. It’s important to consult with a tax advisor or attorney to determine the best structure for your specific situation.

Does Airbnb count as a business expense? Airbnb expenses related to your rental property, such as cleaning supplies, maintenance costs, and utilities, can be considered business expenses and may be tax-deductible.

What platform does Airbnb use? Airbnb operates its own platform and website, allowing hosts to list their properties for short-term rentals.

What expenses can I write off for Airbnb? Common expenses you can write off for Airbnb include property maintenance, cleaning supplies, utilities, property management fees, property insurance, and property depreciation. Consult a tax professional for specific guidance.

How many sheets do you need for Airbnb? The number of sheets you need for your Airbnb property depends on the size of your rental and the number of beds. It’s a good idea to have multiple sets of sheets for each bed, so you can rotate them between guests.

Can you write off mortgage for Airbnb? You may be able to deduct a portion of your mortgage interest as a business expense for your Airbnb property, but the exact rules can vary depending on your specific situation. Consult a tax professional for guidance.

Where do I get proof of income for Airbnb? You can typically obtain proof of income from Airbnb by accessing your host dashboard and generating reports that show your rental income over a specific period.

How do I keep track of my inventory on Airbnb? You can keep track of inventory on Airbnb by creating an inventory checklist and regularly inspecting your property to ensure all listed items are present and in good condition.

Does Airbnb income count as income? Yes, income earned from renting out your property on Airbnb is considered taxable income and should be reported to tax authorities.

Should I have a separate bank account for my Airbnb? Having a separate bank account for your Airbnb income and expenses can help with financial organization and make it easier to track your rental-related transactions.

Should I claim my Airbnb income? Yes, you should claim your Airbnb income on your tax return to comply with tax regulations. Failing to report income can lead to tax penalties.

Should you open a business account for Airbnb? Opening a separate business account for your Airbnb income and expenses can help keep your personal and rental finances separate, simplifying bookkeeping.

Is income from Airbnb passive income? Income from Airbnb can be considered passive income if you are not actively involved in property management and have a property manager handling day-to-day operations.

How to use Airbnb for passive income? To generate passive income from Airbnb, you can hire a property management company to handle bookings, cleaning, and maintenance, allowing you to be less involved in the daily operations.

How much money should I set aside for Airbnb taxes? The amount to set aside for Airbnb taxes can vary depending on your total income, expenses, and tax deductions. It’s advisable to consult a tax professional to determine the appropriate amount.

How to save taxes on Airbnb? You can potentially save taxes on Airbnb income by taking advantage of available tax deductions and credits, such as those related to property expenses, depreciation, and business expenses. Consult a tax advisor for personalized advice.

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Should my LLC own my Airbnb property? Owning an Airbnb property through an LLC can offer liability protection and potentially tax benefits. Consult with a legal and financial advisor to determine if it’s the right choice for you.

Should I create an LLC for Airbnb? Creating an LLC for your Airbnb business is a common choice for hosts looking to protect their personal assets and manage liability. Consult with an attorney to evaluate whether it’s suitable for your situation.

How much do Airbnb hosts make on average per month? Airbnb host earnings can vary widely depending on location, property type, and occupancy rates. Hosts’ monthly income can range from a few hundred dollars to several thousand dollars or more.

Is buying furniture for Airbnb tax-deductible? The cost of purchasing furniture for your Airbnb property can potentially be tax-deductible as a business expense. Consult with a tax professional for guidance on how to claim these deductions.

Is my Airbnb qualified business income? Airbnb income may qualify as qualified business income (QBI) for tax purposes, depending on your business structure and income level. Consult a tax advisor for specific details.

Is there a competitor to Airbnb? Yes, there are competitors to Airbnb in the short-term rental market, including platforms like Vrbo, Booking.com, HomeAway, and TripAdvisor.

Is Guesty worth it? Whether Guesty, a property management software for short-term rentals, is worth it depends on your specific needs and the scale of your Airbnb business. Evaluate its features and pricing to determine if it aligns with your goals.

Conclusion

Optimizing finances for Airbnb necessitates software accommodating the unique accounting needs of short-term rentals. Solutions like QuickBooks Online and Xero provide rock-solid accounting fundamentals. Specialized options like STR Helper and Hostfully cater specifically to rental workflows. Any Airbnb hosts can multiply bookings and profits with technology automating their unique financial management requirements.

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