Best way to keep up all the business expenses?

Small Business Forums Accounting and Finance Best way to keep up all the business expenses?

  • Post
    Joshua Beckers
    Participant

    I own a small business and I’ve realized owning a business isn’t easy. How do you keep up with all the expenses in your business? There are so many bills and expenses that I need to keep track of and an excel sheet seems to take up a lot of my time.

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  • Replies
    Joel Slatis
    Keymaster

    Running a business takes time! It’s hard and it takes a LOT of organization. There’s really no substitute for keeping up to date on things and those who are able to do it better, succeed faster. Using professional accounting software like Xero or Kashoo is a good way to keep up to date on things too. Excel or other half measures will just slow you down.

    But don’t worry, you’ll get better and faster at keeping things going as time goes on. Just stay the course until you get rolling!

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    Tina E Johnston
    Participant

    There’s plenty of good expense tracking software out there (including Timesheets.com). You should just pick one that suits your needs. In today’s world, there’s an app for just about everything…

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    Candice C.
    Participant

    Keeping email organized is a good way to start, since you can get most bills emailed nowadays. If you can keep your email in clear, organized folders, you’ll also have an easier time managing everything in your business – including bills.

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    Jose J. Medina
    Participant

    Old school was is always good, Excel is a way that we track out expenses. It may not be the easiest form of keeping track but if you are on a budget it is cheapest. Make sure to keep it up to date and it can work wonders. But as others said, tracking expense software was created for a reason.

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    Julia Merrace 
    Participant

    I think you could use a spread sheet if you’re hyper organized. It didn’t really sound like Joshua was, however. It would be better if he used something one of the accounting packages. Since there are free ones like wave, I’d investigate that first.

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