How do you track your expenses?

[the_ladyplumber]

Just wondering how everyone tracks your expenses and bookkeeping stuff. I just adapted over the years as I learned more about business ownership, but curious as to how other people do it. I’m always up for improving so thought this would be a great place to ask.

Me personally I log all pdfs into Goodle Drive based per month, per business, per account, with separating misc receipts from suppliers.

I also add the name of seller, the job name, expense total, invoice number and date so they’re easily searchable if needed.

All files are shared with my bookkeeper & accountant monthly.

 

[KAyersETC]

We use Fyle. Started about six months ago. As far as I know, the CFO likes it. President is happy with the reduction in office hours required to sort and track expenses across about 20 company cards. They allow for pretty easy sorting by job, customer, reason, and more. The nice thing is that it automatically saves pictures of the receipts to the transactions. For the most part, it can transcribe the merchant, and the price. Sometimes you have to correct it before submission, but overall, it has streamlined our expense tracking. Have no idea what it costs the company, but so far it has been worth the effort and cost.

Workforce tracks all the labor hours and time sheets. For independent work I've done in the past, I really like Time Squared. Simple. Free. Meat and potatoes.

 

[the_ladyplumber]

We use Fyle. Started about six months ago. As far as I know, the CFO likes it. President is happy with the reduction in office hours required to sort and track expenses across about 20 company cards. They allow for pretty easy sorting by job, customer, reason, and more. The nice thing is that it automatically saves pictures of the receipts to the transactions. For the most part, it can transcribe the merchant, and the price. Sometimes you have to correct it before submission, but overall, it has streamlined our expense tracking. Have no idea what it costs the company, but so far it has been worth the effort and cost.

Workforce tracks all the labor hours and time sheets. For independent work I've done in the past, I really like Time Squared. Simple. Free. Meat and potatoes.

Amazing thank you! I’ll check that out for sure. I def need things to be easier.

 

[TheresaPagano]

I'm the admin, cultivating the pipeline and handling accounting while Hubby is in the field getting the work done and estimates. We are the sole owners of our companies.

My biggest struggle is watching him pay cash or using a personal card for BUSINESS expenses! But I digress...

We use Quickbooks Online which is tied to our bank account - so expenses are automatically posted and categorized. Also, American Express is great with detailed end of year reports.

 

[the_ladyplumber]

I'm the admin, cultivating the pipeline and handling accounting while Hubby is in the field getting the work done and estimates. We are the sole owners of our companies.

My biggest struggle is watching him pay cash or using a personal card for BUSINESS expenses! But I digress...

We use Quickbooks Online which is tied to our bank account - so expenses are automatically posted and categorized. Also, American Express is great with detailed end of year reports.

I tried quickbooks (which I use in the background of my apps) but found it wasn’t great for expense tracking on the go. Maybe it’s changed since I tried it last though as it was a number of years ago.