How do you track your expenses? Looking for best practices

[Andrew Freed]

I'm just curious what others do to track their rental / business expenses, like their SOP. I'm tying to develop a best practice.

For instance, this is what I do:

• 1. Create a google business email / drive and create folders per property and business.
• 2. Create separate folders per month within each property / business.
• 3. When I have a receipt, I will take a picture and email it to my business address
• 4. Save it in the folder under the following naming convention: Vendor_Purpose_Cost_Date
• 5. Input the charge into my property accounting software (Stessa) along with the receipt.
• 6. Hire a bookkeeper to quality check / organize materials for CPA

*** Pro tip - You can download google drive to your desktop and have it as a computer drive (e.g. like your C drive) for easy uploads. 

What do you do to track your costs?