How Do You Track Rehab Expenses

Question

I am doing my first BRRRR and I am trying to see how everyone is tracking their rehab expenses? Currently, I am using an excel spreadsheet to keep track of all my itemized expenses. For example, with the HomeDepot ProX account, I was able to download the itemized receipt details into excel, and categorize them based on asset classes. However, if I shop at other home improvement stores, then I don't have access to those itemized details, and I will need to enter each item I purchased manually. After that has been done, I will then entered the aggregated amount from each category into QuickBooks. For example, in September, I spent $200 in paint expenses, and $3,000 in appliance purchases. I was wondering if I could move this "categorizing" exercise to QuickBooks (is there an import function I could use)? If not, what app do you recommend to scan receipt and categorize expenses? Thanks!

Greg Dickerson · Answer

Quickbooks is the way to go. I have run up to $30 million in projects a year plus many other companies and investment properties using only quickbooks contractor pro. It’s very robust gene set up correctly. You need  an accountant certified in QB to help you.

Bill Quigley · Answer

I have been using Excel also.  But I've been using Stride (free) to handle my mileages and Food Business Expenses.  You can take a pic of the receipt and it will save it.  There are also other categories (such as Supplies) you can add receipts too.  It will also send to your email a PDF and CSV files for Mileage and Other Expenses.  These can then be imported into QuickBooks.  I may now have to look into using Stride for my Rehabs now.