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Rainmaker
5,096,866
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I just turn over my receipts to my husband--but he uses Quick Books. Haven't heard of the companies you mentions.

Nov 27, 2015 10:28 PM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We use QuickBooks and have it synced according to the way our CPA wants it.

Nov 27, 2015 09:22 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Tammy,

If I were you, I would talk to your accoutant.  He/She would know what is needed in your case and that way you can coordinate it with your tax forms. I would not use this type of program.  This is a one size fits all, and you need to do it right, and breathe easy at night.  It is exactly how we set up our books.  A

Nov 27, 2015 01:22 PM
Ambassador
6,362,764
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

My system is rather low tech, I keep every recpt, make lots of notes and put them in envelopes to hand off to the professionals who deal with this stuff.

Nov 28, 2015 01:07 AM
Rainmaker
4,557,997
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I'm wondering if Nina Hollander's husband is available -- I'm kinda liking that response....a lot.   

Nov 28, 2015 12:51 AM
Rainmaker
1,533,163
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I use my CRM, which has a budget feature in it, attached to my goals. Referral Maker CRM. Here's a FREE 30 Day Trial. Just enter your name & e-mail and send yourself the link if interested.

I also use Quickbooks for my taxes, but have a book keeper that does the work.

Nov 28, 2015 12:27 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Quickbooks online - check with your CPA to see what will work best for you AND them.

Nov 27, 2015 11:31 PM
Rainmaker
1,659,236
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I use Quick Books.  Quick, easy and accurate.  

Nov 27, 2015 10:48 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

You have received very good answers above. I would have a note book for mileage and days activites as well.

Nov 27, 2015 10:42 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tammy Inglis I've always used QuickBooks. It can be modified for real estate and works like a checkbook ledger. Simple to use with monthly P&L's and Balance Sheets for tax tracking.

Nov 27, 2015 10:40 PM
Rainmaker
1,723,426
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Use Quickbooks for accurate reporting for accounting reports.

Nov 27, 2015 10:02 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

I am not familiar with either product.  I have seen numerous way to track expenses.  It depends on what your requirements, needs and wants are.

Nov 27, 2015 04:17 PM
Rainmaker
1,237,820
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I assume it is for IRS so Excel like Jill is correct.

I also suggest you track your milage and write down each home address you showed to clients.  Often people take advantage of newer agents use them to open door and strike a deal with listing agent directly.  A friend became a referral agent at Redfin makes all referral clients to sign an agency agreement making them to pay for commission to the agent if they buy from another agent..... 

Nov 27, 2015 01:59 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tammy Inglis well, you are at right place at right time!

As far as tracking expenses is concerned, I rely on my Google Spreadsheet.

Nov 28, 2015 03:31 PM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Quick Books is worth checking out.

Nov 28, 2015 08:22 AM
Rainer
22,782
Evan Maroulitsas
The Agentcy Real Estate Firm - Sterling Heights, MI
Real Estate Broker/Owner

I use quickbooks! It's too easy!

Nov 28, 2015 06:02 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I use the old pen and paper method and I know just where I am

Nov 28, 2015 05:32 AM
Rainer
150,416
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

I just ditched Expensify, and moved over to Quickbooks online. Many reasons, but mostly because I felt it was lacking some things that I needed, mostly "structure" to make me do it! I HATE doing accounting!

Nov 28, 2015 04:34 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I just use my personal Quicken account to track my expenses.

Nov 28, 2015 03:40 AM
Rainer
183,407
Judith Sinnard
SMARTePLANS; Houston, Texas - Houston, TX
The SMARTePLAN Lady

Ask your CPA what they want and how they want it.  I set up an Xcel spreadsheet that follows my tax reporting forms (same categories) and it is filled out for each month and feeds to a summary page for a YTD. As each expense occurs it is booked.  If I don't have time to enter it into the spreadsheet, I have a plastic shoebox on my desk that holds all receipts.  I have a folder set up in my email for receipts and any electronic rec'ts rec'd are drug into that folder until they can be posted on the spreadsheet. Once posted they are printed and put in a manila folder which holds all paper cc's of receipts for the year taped to sheets of paper in monthly order (from the shoebox and email). I post on the spreadsheet at the end of every month ... so I always know where I am each month and YTD as well.  I also have a mileage log.. a blank chart I print each month that goes on a clipboard next to my car seat .. I turn the key, I fill out the chart .. starting mileage/stopping mileage/destination & Comments.   These "systems" work for me ... you need to establish a system that is easy for you to follow and be diligent in using it..... and a back-up for when you are short on time (my shoebox collection system)---so when you do have time, you also HAVE the data, and don't have to search for it. Good luck.

Nov 27, 2015 11:46 PM
Rainmaker
5,852,044
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I made an Excel spreadsheet with items my CPA would like to see, and easy to record once I have receipts. 

Nov 27, 2015 10:52 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Here is my recommendation.

Consult your accountant and have him/her provide you with their preferred application and format for a real estate professional.

The advantage will be ALL the categories are defined and proper elements assigned. 

Nov 27, 2015 09:38 PM
Rainmaker
2,759,787
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Saturday morning Tammy. I am doing the same thing. I'm using a good old Excel spreadsheet.

Nov 27, 2015 06:05 PM
Rainmaker
400,356
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

Clearly, you're not married to an engineer.  If you were, your sales and expenses would be tracked on a spreadsheet that includes projections for future sales and expenses.

I knew an agent who used a specific credit card exclusively for real estate expenses.  That helped her keep track, but it seems like you're looking for something more. 

Nov 27, 2015 01:24 PM