Flippers
Get true landed cost per project, not a budget-versus-guess comparison.
Feature — Accounting
Know what the deal actually made
Projected profit is a hypothesis. FoundREI keeps the books that test it: a real chart of accounts, journal entries behind every payment and draw, strategy-aware cost routing, and a per-deal P&L your CPA can read without a translation layer.
Inside the feature
What it is
Most investors run their deals in a budget spreadsheet and their books somewhere else, then spend the week after closing reconciling the two. FoundREI closes that gap by making the budget the spine: what you committed, what you have paid, what remains, and where each dollar landed in the accounts.
Because entries are posted rather than typed into a summary, the P&L, the cost basis, the loan schedule, and the payables all read from the same source — and a correction anywhere is a reversal everywhere.
- Chart of accounts with strategy-aware routing
- Journal entries for purchases, draws, payments, sales, and loans
- Corrections by reversal — reversed pairs excluded from reports
- Per-deal P&L, cost-basis schedule, and fixed-asset tracking
- General ledger export with an out-of-balance warning
- Contractor 1099s and per-permission money visibility
From input to outcome
How it works
A clear workflow that keeps every decision attached to the same deal.
STEP 01
Set the accounts
Start from a standard chart of accounts and adjust it to how your entity actually reports.
STEP 02
Let the work post
Payments, draws, receipts, and sales create journal entries as they happen, routed by strategy and cost treatment.
STEP 03
Correct by reversal
Wrong entry? Reverse it. The original stays for the record; the reports ignore the pair.
STEP 04
Export
Produce the P&L, ledger, basis schedule, and 1099s as PDF or CSV for your bookkeeper.
Built for the work
Who it's for
Buy-and-hold owners
Capitalize improvements correctly, place assets in service, and keep the depreciation basis defensible.
Anyone with a CPA
Hand over a general ledger, a cost-basis schedule, and 1099s instead of a folder of screenshots.
Frequently asked questions
Is this real double-entry accounting?
Yes. FoundREI keeps a chart of accounts and a general ledger of journal entries. Purchases, draws, payments, sales, assignment fees, loan payments, and operating income all post as entries you can inspect line by line.
How do you correct a mistake?
By reversal, not deletion. A corrective entry references the entry it reverses, and reports filter reversed pairs out of the ledger and P&L so the history stays intact and the numbers stay right.
Does the strategy change the accounting?
Yes, and it should. Rehab spend on a held asset capitalizes to improvements; the same spend on a resale contract routes differently; a repair that is expensed now goes to repairs. FoundREI routes by strategy and cost treatment through one rule applied everywhere.
What reports can I produce?
Per-deal profit and loss, cost-basis schedule, general ledger with an out-of-balance warning, budget report, fixed-asset schedule, loan reports, rental income, contractor 1099s, and an activity log — as PDF or CSV.
Does it connect to QuickBooks or Xero?
Not yet. FoundREI exports CSV and PDF for your bookkeeper today; direct provider connections are not shipped.
Who can see the money?
Financial figures are gated by permission. Team members who need the schedule but not the contract amounts see the schedule without the money, including in generated reports.
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