How to account for flip gross profit

[Leland S.]

Hi Folks, I have a master spreadsheet with all my costs for a flip. I'm confused though as to how to calculate my gross profit. 

I have considered any and every expense associated with the project, including credit card/paypal fee's, credit card interest payments, travel expenses. Also, my parents who partnered with me ended up living there for 8 months and paid me rent, so I have two values, one gross profit for the project including their payments as "investments" and another without their payments looking at the actual project costs. In addition I paid my parents a contractor management fee which I do include in the costs.

Now I know for tax purposes they will not include my personal travel (I already deducted that as on my sched C), I know none of the CC interest or fee's would be deductible anywhere, but regardless I plan to include them on the gross. 

In addition, how do you break down expenses categorically so that you can analyze best? I have a ton of Home Depot and Lowe's receipts that I have no idea if the materials are paint or cabinets etc. Is there any product out there that can ingest receipts and lookup item codes to itemize them? 

I also plan to categorize out the following as best I can: 

• materials
• contract labor
• holding costs (mortgage, utilities, hoa, etc)
• investor costs (travel)
• money costs
• closing costs (purchase)
• closing costs (sale