Hello BP neighborhood,
For home flippers doing constant offers, what tool(s) do you use for accounting? I've attempted QB (admittedly, didn't pursue long) and it didn't appear to be a great fit. Looked like QB would be good for a leasing, however since with flips you have to capitalize every cost and whatever is basically on the balance sheet (versus the P&L) it didn't seem to work appropriately. Now, I manually export CC and bank declarations into CSV files and after that separate each deal where it requires to go. I do at the end of each year and truly dread it. It is very tiresome and injures my brain.
For instance, we bought/sold 5 turns in 2015 so we have 5 “buckets” each deal might fall in PLUS our general workplace costs (Google advertisements, Propstream, DealSimple, and so on)
I manually go through every deal to drop in the right “bucket” to figure out our revenue for each deal and after that I provide to my certified public accountant. Exists an easier way to do this? I have actually done this for several years now and feel there has got to be a better way.
