Xero or QuickBooks Online: which fits a landlord's rental books?
Both can run a landlord's books: both read bank feeds, produce a profit and loss, and can split results by property using a tracking feature (Xero calls it tracking categories, QuickBooks calls it classes and locations). The deciding factors are usually your accountant's preference, the plan's price for the features you need, and how many properties and entities you have. Ask your CPA which they use before you choose.
What they have in common
Both are general accounting programs. Neither is built only for rentals, so neither has a built-in lease, tenant ledger or rent roll in its basic form. Both let you set up a chart of accounts, connect a bank feed, enter bills and invoices, run a profit and loss and a balance sheet, and give your accountant access.
That shared base is why the choice often comes down to people. An accountant who knows one program well will usually work faster in it, which can lower what you pay for help.
Tracking each property
The usual way to see profit for each property in a single file is a tracking tag on each transaction line. In Xero this is tracking categories. In QuickBooks Online it is classes or locations. Both let you run a report that splits by property. Plan limits on how many tags you may use, and on which plans include the feature, are set by each company, so read the current plan pages.
| Question | What to check |
|---|---|
| Can I split reports by property? | Tracking categories (Xero) or classes and locations (QuickBooks), and which plans include them |
| Can I keep each LLC separate? | A separate organization (Xero) or company (QuickBooks) for each LLC, and what each one costs |
| Does my bank connect? | The bank feed list in each product, and whether your bank is on it |
| Can my CPA work in it? | Ask which they use and whether they have their own access tier |
Cost and plans
Both charge a monthly subscription that depends on the plan. Prices and what each plan includes change, sometimes with introductory discounts, so look at the current pages (linked below) rather than trusting any figure in an article. When you compare, price the exact setup you need: number of entities, users, bank connections and the tracking feature.
Example a made-up owner has three LLCs and wants a separate set of books for each. If one plan costs $50 a month for each file, three files cost 3 x $50 = $150 a month, or $1,800 a year. If a single file with tracking tags costs $90 a month, it is $1,080 a year, but it keeps all three LLCs in one set of books, which an accountant may not want. These numbers are invented, so use the real ones from each company's page.
What neither does for a landlord
- Neither knows what a tenant owes this month, so rent matching to people is still manual, usually with a spreadsheet or a separate rent tool.
- Neither fills in a Schedule E for you from a rent roll. Your preparer maps accounts to the lines.
- Neither sends lease notices or tracks security deposits by tenant without extra setup.
That is not a flaw; they are general tools. It does mean a landlord who wants rent, deposits, leases and books in one place often adds a rental-specific tool or builds a careful chart of accounts, as described in the rental chart of accounts.
Where DoorKeeping fits
DoorKeeping is a different kind of tool: AI first property management that keeps its own books for each LLC, matches deposits from your bank feed to the rent each tenant owes, and produces Schedule E and 1099-NEC reports. It connects to QuickBooks Online so you can read reports, compare books and, after you accept, send a daily summary of closed books tagged by property class. It does not connect to Xero today. If your accountant uses Xero, you keep Xero for them and use DoorKeeping's own reports. It costs $2 per unit per month with $0 in other fees.
Sources
- Intuit, QuickBooks Online plans and pricing, read Oct 30, 2026
- Xero, US plans and pricing, read Oct 30, 2026
- IRS Publication 527, Residential Rental Property, read Oct 30, 2026
Questions
- Is Xero or QuickBooks cheaper for a landlord?
- It depends on the plan and on how many files, users and features you need. Both change prices, so compare their current pages for the exact setup.
- Which do accountants prefer?
- It varies by accountant. Many work in both, but the one they use daily is usually faster for them. Ask your CPA before you choose.
- Can I switch from one to the other later?
- Yes, both support importing data from other systems and from files, though history often needs cleaning. Ask your accountant about the cleanest cut-over date, usually the start of a month or year.