Expense tracking serves a couple of important business needs. One, it is used to calculate reimbursable expenses for employees. And two, it complements billing and job costing for customers. This last one is important because it helps business owners make better business decisions.
Any business whose employees make company purchases is already familiar with tracking expenses for employee reimbursement. But expenses that aren’t made with employee funds should be tracked for billing and job costing too. This helps improve visibility into the real cost of projects, beyond just the cost of payroll.