Receipts and expense tracking

Looking for a better way to track my purchases. Last year was the ol receipt in envelope and then type into Excel later on… Kill me now I won’t do it again lol.

What’s everyone else using for this?

Was looking at Expensify the smart scanning feature us nice but costs $5 a month. Anyone find anything good that’s free or cheaper?

C’mon man… lol

I was using Expensify, but quickbooks does it too.

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To make it easier I’ve made a business account at a local gas station where I fill up and that’s the only place I get gas (they log my transactions for me) , only usually order equipment from pressuretek and anything local I go to Menards and use my business acct and get my SH from the same supplier. All these places will track your expenses for you and can get your transaction records printed for you whenever. Your acct will like that a lot more then 800 receipts

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Hey I still use joist bc it’s free and easy to use lol so I’m sure there’s a free app out there. Why pay if you don’t have to??

But at same time I’ll throw money at something if I’m told it’s worth it or they have good product.

I just have a debit card linked to my business checking account. Everything business related gets put on it and nothing else. At end of year just download a csv file of all transactions, deposits and expenses. Since all equipment purchases under I think $100k for the year can be expensed it makes it really easy. In less than an hour can have everything the accountant needs for the year.

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Good call on the gas station may have to look at that. Only downside is my truck is business and personal use.

Yah, if you file by mileage then keeping track of your gas receipts is not really important. I’ve always found, at least for myself that filing by the mileage deduction is more beneficial for me then by expense on gas.

Quickbooks self employed is a phenomenal tool for all of the above. You can even have it do automatic mileage tracking, if you don’t like figuring it out at the end of the day or remembering to set your trip odometer. It links right to your bank account, whichever one you designate, and then automatically logs your purchases and deposits. Super easy. Use it on a smartphone or tablet for the mileage feature

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ill have to look into this it sounds like the one stop shop im looking for.

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Starting my 3rd year with it right now. Give it a whirl, see if it’s right for ya.

Just get a business credit card,An only use it for business transactions. Hand your accountant your 12 months worth of statements An say any questions call me.

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I got a business credit card and anything business goes on it. Use a credit card and not debit because you can take advantage of points or miles. I also save all my receipts.

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_ use my truck some for personal use also, but I just use MileIQ. Goes on your phone and records every trip. At eod or weekly just go thru and mark business or personal. It’s a paid app but not that much. I think about $5/mo

I have a business CC but dont you keep your receipts just incase?

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I do the same - mileage.

Question though, can you expense the gas you use for your power washers? I’m just starting out (power washing) this year and that question popped into my head the other day.

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Yessir

I do keep most my receipts especially if it’s something that might need to be returned.
Most companies emailed receipts I just save them in my google email where it says Receipts . Everything I buy is through my credit card. It’s all an accountant needs. They also see your banking records for whoever takes out directly for auto pay.
Ya need a good accountant very important.

My monthly IRA that I give to every month gets taken out of bank , my van payment is auto pay. So all that is seen from bank records. ASPCA every month :dog2::grin:

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Just pay for it through your credit card. Done !!!

I don’t follow.

I pay for gas for vehicles with the company card. I will pay for gas for the power washers with the company card. I claim mileage for company vehicle. Because I do, I can’t expense other vehicle costs (fuel, repairs, etc.).

Just because it goes on a business CC doesn’t mean you can claim it as an expense. Please correct me if I am wrong.