Bookkeeping Services For House Flippers
Flipping houses is fast paced. Your books should be too. We track every dollar on every project so you know your profit after each sale.
Why Accurate Bookkeeping for House Flippers Matters
Financial Clarity and decision making
It gives you a precise view of cash flow, profitability, and where capital is going so you can strategize confidently rather than guess.
Tax readiness and compliance
Ensuring that flipping income is accurately reported for Schedule C accuracy, clean books reduce audit risk and ensure deductions aren’t missed.
Compliance and investor trust
Meticulous bookkeeping helps you stay compliant, clear, and credible to partners, lenders and creditors.
Fix and Flip Accounting
Project based accounting tracks purchase, rehab, and holding costs per flip which are critical to calculating true ROI and managing the tight timelines inherent to flipping.
Core Services
✔️ Project-level job costing
Keep track of every buy, closing, rehab, and holding cost
✔️ HUD/ALTA/Closing Disclosure Settlement
Accurately record each entry on all acquisitions and dispositions
✔️ Conventional, hard money and creative finance tracking
Keep meticulous records for all loans including draws, interest and points
✔️ Vendor and Subcontractor Payments
Keep track of all payments to each vendor with seamless 1099 workflows
✔️ Profit visibility property by property
Review gross profit for each individual Work In Progress (WIP) project
✔️ Record and Reconcile all Bank and Credit Card Accounts
We will track every transaction on your business bank and credit cards
How It Works
Step 1: Connect all accounts
We will help you connect all business bank accounts and credit cards. We will manually track all loans and creative financing.
Step 2: Map projects
Each flip project will be dedicated in the Projects Portal. All transactions related to the property will be mapped accordingly.
Step 3: Categorize weekly
We will enter your QuickBooks account on a weekly basis to clear the bank feed. We will ask questions while information is fresh.
Step 4: Report monthly
We reconcile your accounts monthly. By the 10th business day of the month, you will receive updated Profit & Loss and Balance Sheet.
Heavy Hitting Testimonials
-
![Black and white portrait of a man with short, spiked hair and a full beard, gazing directly at the camera.]()
“Several months of heartache for us solved! Cameron specializes in real estate bookkeeping. He's a gem!”
Geoff Husa
Real Estate Investor
⭐⭐⭐⭐⭐
-
![Portrait of a woman with curly red hair, wearing a black blazer and smiling softly.]()
“I highly recommend Cameron for any accounting needs you may have. Plan to transition to his firm.”
Christine Monteith White
Real Estate Investor
⭐⭐⭐⭐⭐
-
![A smiling man in a dark green suit with a patterned green tie, standing in front of a blurred background with green and white lights.]()
“I struggled to find time to balance my receipts, but Cameron was able to find me relief.”
Jeffrey Tam
Business Owner
⭐⭐⭐⭐⭐
-
![A man in glasses wearing a black suit and checkered shirt, posing against a textured light gray background.]()
“I recommend Cameron to friends and family without hesitation. Knowledgable in everything bookkeeping.”
Kendrick Gomez
Business Owner
⭐⭐⭐⭐⭐
Download Our Free Guide For House Flippers
By entering your information, you’ll receive this free resource and be subscribed to receive occasional marketing emails from Check Bookkeeping. You can unsubscribe at any time.
House Flipping Bookkeeping FAQs
1: How do you manage job costing for fix and flip projects?
We allocate every acquisition, rehab, holding, closing, and selling cost to individual jobs in QuickBooks Online using the Projects Portal feature that is exclusive to QuickBooks Online Plus or Advanced.
All loan origination fees are accurately capitalized per IRS guidelines so you don’t have to worry about it.
All costs for these categories are allocated to the correct Inventory accounts on the Balance Sheet during acquisition, rehab and holding periods.
All costs are then expensed to Cost of Goods Sold (COGS) when the property is sold.
The Project Portal numbers are used as a dashboard to enable simple review of precise gross profit of each individual project to support your ROI tracking for each flip.
2: Do you record closing and sale related expenses for flips?
Yes. We include broker fees, Realtor commissions, title costs, property taxes, buyer and seller concessions, attorney fees, and other sale specific line items to ensure each flip’s profitability is fully transparent and IRS compliant.
3: How do you handle inaccurate or non-existent bookkeeping for flips?
We offer clean up service that brings all past flips into order. During onboarding, we will work with you by providing you with a checklist of documents to gather and provide. We will answer any questions you might have to help identify any holes in your records.
4: Can you produce flip specific profitability reports?
Absolutely. We create detailed Profit & Loss reports per flip, helping you see the full margin impact and cash flow from each individual project.
These reports can be used in conjunction with your Work In Progress (WIP) reports to review the progress of your flip projects.
5: How do you account for holding costs like interest and insurance during rehab?
All project specific expenses incurred before sale must be properly capitalized to specific Work In Progress (WIP) Inventory accounts. This ensures that nothing is incorrectly expensed before the project is complete.
At the acquisition, rehab and hold phases, we send all appropriate costs—like purchase price, property taxes, loan origination fees, loan interest, and utilities—as part of Work In Progress (WIP) Inventory, while ensuring they’re considered in the project level ROI
6: Do you book HUD, Closing Disclosure, and ALTA statements?
Yes, we will ask for all of your property statements and go line by line to ensure that we accurately record each asset acquisition, rehab cost, holding cost, closing cost, and disposition.
7: How do you handle flip deals purchased using hard money loans?
We will ask you to provide us to view-only access to the lender’s portal in order to retrieve all origination, finance and statement documents pertaining to the loan. If you cannot provide view-only access, we will request statements each month in order to capitalize all appropriate loan costs.