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Updated 11 months ago,

User Stats

88
Posts
63
Votes
Alex Fenske
  • Residential Real Estate Broker
  • Mokena, IL
63
Votes |
88
Posts

Bookkeeping when managing 3+ flips at a time?

Alex Fenske
  • Residential Real Estate Broker
  • Mokena, IL
Posted

For those who manage 3+ flips at a time, I'm curious what bookkeeping software you use and how you keep all the expenses properly matched to each property. 

I use QBO for my corp books and Stessa for my rental portfolio, and I have a bookkeeper who manages those systems. We used Stessa for the flips last year, but as I've increased the number of flips, tying expenses to the appropriate project has become a bear and I'm wondering what others do. Contractor payments, online orders, card swipes at home improvement stores, utility payments... When these payees are shared across all projects, it's a mess tracking what expense goes to which property.

What's the simplest/easiest way to do this?

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