software for tracking expenses of a rehab

[Kellie Powell]

We are looking for a better way to track rehab expenses.  I currently have created my own spreadsheet and that is working.  I am just looking to be more efficient.  Is there a software out there that you use or recommend to enter all of the expenses into that will help with totaling all the expenses accurately into proper categories for year end tax stuff or by each project?   Can you take pictures of your receipts and save them in the app / software?  Any suggesting are appreciated.  

[Jake Baker]

@Kellie Powell

At the bare minimum, you should do the following to make your bookkeeping easier:
1. Dedicate one checking account and credit card exclusively to real estate. Keep personal and business finances separate.
2. File all receipts in a dedicated Google Drive folder. Digitize physical receipts for easy storage.

Additionally, you can track income and expenses consistently, using software or spreadsheets.

I use QuickBooks Online for most of my clients. For most real estate investors, a Plus subscription is needed. It is the most popular software in the industry and all CPAs know how to navigate it which is nice.

As you scale, if bookkeeping isn't fun for you, consider hiring a bookkeeper for a couple hundred bucks per month.