GuideThe money
Profit and loss, and the final profit statement
See the house's profit line by line, add income that isn't the sale, and print the final statement when it sells.
- Where it is
- A house › Money › P&L
- Who can use it
- Owners and admins
The P&L shows how the profit number is built: what you paid, what the rehab has cost and will cost, the hold, the selling costs, and the price you expect to sell for. Its bottom line is always the same number as Projected Profit at the top of the house.
Example
Profit and loss
- Purchase
- $160,000.00
- Rehab actual
- $24,437.40
- Rehab still to spend (budget)
- $48,822.60
- Hold (estimate)
- $17,306.65
- Selling costs
- $17,340.00
- ARV estimate
- $289,000.00
- Cash out
- $41,744.05
- Projected profit
- $21,093.35
Read the rows
| Row | What it is |
|---|---|
| Purchase | The purchase price |
| Rehab actual | The same number as Spent |
| Rehab still to spend (budget) | The part of the budget you haven't spent yet |
| Hold (estimate) | Holding costs: your estimate until what you've paid passes it |
| Selling costs | Your selling cost estimate |
| ARV estimate | What you expect it to sell for. It becomes Sale price once the house is under contract. |
| Other income | Rent, credits, and the like, when there is any |
| Cash out | Rehab actual plus hold |
| Projected profit | The bottom line |
Add other income
Rent while you hold the house, a forfeited deposit, a seller credit, or an insurance payout all add to profit.
- Step 1: On P&L, find Other income and choose Add income.
- Step 2: Pick What it was, type the Amount, set the date Received, and say who it was From.
- Step 3: Choose Save income.
Spending by category and vendor
By category and By vendor total the posted expenses. Each has its own CSV button. Holding-cost expenses are included here even though they aren't part of Spent.
When the house sells
- Step 1: Open the house's Home and choose Edit property.
- Step 2: Change Selling cost estimate to the real figure from the settlement statement.
- Step 3: Set Status to Sold and type the Sale price.
The P&L becomes the Final profit statement by itself. Three things change:
- The bottom line is Net profit, and it uses the sale price.
- Rehab is what you actually spent. The unspent budget drops out.
- Hold is what you actually paid in holding costs, not the estimate.
Print or save as PDF appears for a clean copy for your partner, your lender, or your records.
Exports
Export CSV, the QuickBooks files, and All properties are covered in Tax time and exports.