Tracking business expenses is the first step towards precise bookkeeping and it doesn’t have to be time-consuming or overly complicated. To keep track of your business expenses, start by using a receipt organizer/expense tracker app to photograph, scan, and sort all your receipts in a digital form. It’s also a great idea to use a dedicated business bank account and credit card and connect that account to your accounting software. This will automatically import expense information from said account and card to your accounting solution, in addition to regular exports of your digitized receipts from the receipt organizer/expense tracker system.

Tracking expenses in Excel provides you with a comprehensive picture of where your money’s going, and which money traps you commonly fall into. The best way to keep track of expenses in Excel is to start using an expense tracker app which allows you to sort and store your receipts according to relevant categories. Using an expense tracker app also allows you to take your expense log with you wherever you go, so you’re always on top of your budget. Input the information from your receipts into Excel to make modifications to your spending as needed.

The best way to track your household expenses is to use a personal expense tracker app. It works better than the traditional paper spending log by automatically culling information from uploaded receipts, and allowing for categorization according to your household’s typical expenses and needs. Your expense tracker app follows you wherever you go, so you can input new expenses the moment payments are made and always stay on top of your budget.