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#18372 - 12/21/06 07:52 AM Keeping track of expenses
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 749
Loc: Florida
I just closed on my first few deals! They all came in during the same week! I would like your suggestions on the software you use for keeping track of expenses & numbers in general.

I look forward to getting more deals going.

Thank you.

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#18373 - 12/21/06 08:21 PM Re: Keeping track of expenses
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
I track numbers using spreadsheets, one for expenses and another for income.

On the expense one I have columns for date, method of payment (check number, credit card or cash) and various types of expenses (office, advertising, dues, etc.) It is set up to provide totals at the top rather than the bottom of the columns, with the headers locked the totals are always in view even when entries are well down the page.

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#18374 - 12/22/06 07:01 AM Re: Keeping track of expenses
fatmaxxv Offline
Veteran Member

Registered: 05/23/06
Posts: 724
Loc: Frisco, TX
I do mine on one Excel spreadsheet. I have several worksheets linked on to my "Summary" page and I absolutely love it. When I enter my info, I go to the actual worksheet, and when I want to view the running total for the summary, I just go to the summary page. I also have a Budget worksheet that I track against the actual expense.

I'm a numbers person so I love crunching them....
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#18375 - 12/22/06 07:31 AM Re: Keeping track of expenses
Benjamin Harris Offline
Broker
Member

Registered: 10/27/06
Posts: 40
Loc: Pensacola, FL
I use Quicken Home and Business, but there is a product on Ebay that might work for you.

http://cgi.ebay.com/Real-Estate-Agent-EX...1QQcmdZViewItem
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#18376 - 12/22/06 02:11 PM Re: Keeping track of expenses
Retsof Yor Offline
Veteran Member

Registered: 12/03/05
Posts: 679
Loc: South Central Kansas
Quickbooks Pro here
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#18377 - 12/22/06 07:17 PM Re: Keeping track of expenses
realtor1126 Offline
Member

Registered: 09/03/06
Posts: 324
Loc: Southeast Iowa
Mr. Foreclosure's idea is a great one! I do the same thing, except that my totals are at the bottom of the columns. That will be changed immediately! What a great idea.

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#345740 - 07/29/10 05:30 AM Re: Keeping track of expenses [Re: Mr. Foreclosure]
pglover19 Offline
Junior Member

Registered: 07/27/10
Posts: 5
Loc: VA
Can you please PM me a copy of your Excel spreadsheet used to track your income and expenses..

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#345961 - 07/30/10 10:23 AM Re: Keeping track of expenses [Re: pglover19]
amasters Offline
Member

Registered: 04/28/10
Posts: 35
Loc: Indianapolis, IN
I agree w/ posters who recommend the use of spreadsheets. Since I'm always in possession of Microsoft Office anyway, using it to track expenses makes sense and saves me from having to invest in a separate product. Plus, since the data can be exported into tables it can always be imported into any software I might buy in the future, assuming such software comes with the capability to import data as such.

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#345988 - 07/30/10 02:43 PM Re: Keeping track of expenses [Re: amasters]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 625
Loc: London, Ontario
Another vote for an Excel spreadsheet here. Unless you want to get really fancy Excel can do every you need.

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#346002 - 07/30/10 05:09 PM Re: Keeping track of expenses [Re: Kjmendy]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8391
Loc: georgia
When you get real busy you can use an assistant or bookkeeper.

I would lose more money per hour spending time on that than closing my deals and making phone calls. Plus they can do that so much faster than me. Doesn't mean I don't keep an eye on it.

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#346011 - 07/30/10 05:51 PM Re: Keeping track of expenses [Re: super realtor]
pglover19 Offline
Junior Member

Registered: 07/27/10
Posts: 5
Loc: VA
Can someone please PM me an example of an Expense/Income spreadsheet that you are using....

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#350742 - 09/08/10 01:34 PM Re: Keeping track of expenses [Re: pglover19]
Brent Mitchell Offline
Member

Registered: 07/30/08
Posts: 55
Loc: TX
Quickbooks is great and can keep you right on track with what you are earning/spending. When you don't see this, it can sneak up on you, so good move on getting organized.
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#350900 - 09/09/10 11:42 PM Re: Keeping track of expenses [Re: Brent Mitchell]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 2746
Loc: LAND OF THE FREE!
i write everything on post it notes and keep them filed on my wall.

jsut kidding...

quickbooks and a business creditcard makes it easy...all purchases for business are on one card..all checks written are from one acct...seperate yoru busines from your personal...it really helps...make sure ot put money away for taxes too....i put away 20percent of all incoming checks for taxes...jsut made that a habbit...i dont take anything from that acct except for when i get robbed.

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