How to Read a House Flip Balance Sheet (Step-by-Step Guide)

Описание: ✅ Get the Bookkeeping Cheat Sheet For Builders Guide: https://checkbookkeeping.com/construc...

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✅ Find out why the Balance Sheet is the most important financial statement for House Flippers

Unlock the power of your flipping business with clear financial insights. In this video, I walk you through how to read and interpret your house flip balance sheet in QuickBooks Online. We will cover everything from classifying inventory and loan costs to understanding the Accounting Equation: assets, liabilities, and equity.

What you'll learn:

0:00 – Intro & What I Do
1:30 – Why Balance Sheets Matter for House Flippers
2:00 – Flip Inventory vs. Profit & Loss (WIP Concept)
5:00 – Navigating QuickBooks: How to Access Your Balance Sheet
6:00 – The Key Accounting Equation
8:00 – Assets: Interpreting Inventory Components (Purchase, Rehab, Holding, Financing)
15:00 – Post-Sale: From WIP to COGS and Calculating Gross Profit
16:00 – Liabilities + Equity:
18:00 – Final Thoughts & How to Reach Out

Why balance sheets are essential for inventory-heavy flips

💡 Pro Tip: The Balance Sheet reflects data as of a single snapshot date—not a range, so set your “As of” date carefully when running the report.

Resources & Next Steps:

🏡 Check out the How To Avoid Common Builder Mistakes to get ahead of the game for your Flipping Business in the description: https://checkbookkeeping.com/rei-quic...

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