Track expenses and earnings

[Gerri64]

How do you keep track of your earnings and expenses including travel mileage and expenses that you incur maintaining your place.

Thank you.

[Emiel1]

@Gerri64

I download Gross Earnings (as a CSV file) from Transaction History Pages and import the file into a spreadsheet. Other costs can be added to the spreadsheet and give you a total overview for Tax purpose etc.

[Karol22]

I had my accountant set me up with QuickBooks, which is connected to Airbnb using an app called Bnbtally: https://www.bnbtally.com/ 

Bnbtally processes all of my income from Airbnb automatically, it will split out the Accommodation Fare, Cleaning Fee, Airbnb Service Fees, Taxes, amounts owed to my cleaner, etc... it also splits out income from separate listings. For expenses, I set up bank rules in QuickBooks to handle all of the expenses automatically. 

I've had this setup for over a year, I no longer have to worry about the day-to-day bookkeeping, it really is just a matter of running a report to see my bottom line at any time of the month. Pure bliss!

It supports several different Airbnb business models, just choose which one fits your situation and Bnbtally will get your Quickbooks set up quickly. You can check out their templates for Quickbooks here... 

Airbnb QuickBooks Templates: https://www.bnbtally.com/airbnb/quickbooks/chart-of-accounts-template 

[Lorna170]

@Gerri64    I have a simple spreadsheet in Excel with a page for earnings and a page for expenses.  The earnings page lists guests and reservation ID, with columns for nightly rate, cleaning fee, taxes charged and the bank deposit verification as well as anything else income wise I want to track.

The expenses spreadsheet has a list of my utilities, monthly payment to cleaners, monthly payment to yard maintenance, travel miles (x miles times $0.56), taxes, insurance, cleaning supplies, etc.  I enter bills by the month and then total for the year.

A lot of owners use programs like Quickbooks.  If you have a PC and are using Microsoft Excel, they have a Money program that is pretty good.

[M199]

I have been using Microsoft Money Sunset Dix edition forever.  It is is no longer supported by Microsoft, however, it is so fully functional that I can track both my personal and Airbnb finances in less than 5 minutes a day.  I will admit that it takes a bit of work, like any  other financial program, to set up.  I literally set up future reservations as a deposit, so I know what $ are coming in.  On the lighter side - it's free!

[עידן0]

You can try using guestodo it's  made for property managenent, record income and expenses in one place, vert easy to use and it's free www.guestodo.com