For those who have 5+ flip projects going on at one time how do you track all of your expenses and stay organized? Is there an app out there that I can quickly scan a receipt into an accounting system and have the ability to toggle between different properties? I've been using excel and up to this point but as I continue to grow and add on more projects the accounting side of things is getting out of hand. There has to be a scaleable tool out there!
Most we've had going is 3 at one time, if my memory serves. If you're not using an aggregator such as mint.com I'd highly recommend. It gets cumbersome, to say the least and I now appreciate more what some back office staff can do when focused on something like this.
Anyways, under mint you can create categories for your spending so it's just a regular occurance to go into the platform and categorize your expenditures.
Another option is to open a business account on a per property basis. I've never done that but I'd assume if you have separate charge cards per project, you can simply see statements from them....
If you find something else that works great please let me know on this.
Thanks @Jim Goebel I'll check into Mint and see if it's a good fit. I do have separate cards for each property which helps some.
@Aaron Farr I know many people in the BP community use Expensify to scan receipts.
I'm biased, but Kitt is a great option to track all your income & expenses and toggle by property.
Otherwise Airtable can help make your spreadsheet easier to use, if rolling your own still works best.
Hope that helps.