What is expense tracking?
Expense tracking really useful tool to help you keep track of all your business spending. Not only is this useful for tax purposes, but it can also help you make informed financial decisions, save money, and grow your business.
You can organise your expenses in two main ways - Accounts and Categories.
Accounts allow you to separate your expenses depending on who is paying for them. For example if you work for yourself and will reclaim the expenses against tax, and sometimes work for another business who will refund your expenses.
Categories allow you to separate your expenses depending on what they are for. For example to track your fuel expense separately from new equipment purchases.