Tracking Your Business Expenses

How to track your paid and unpaid business expenses with Less Accounting.

With a couple of clicks you can track all of your paid and unpaid business expenses. The unpaid expenses you create appear in the dashboard to let you know when they are due or over due. You can also set business expenses to reoccur, like your monthly rent. Go paperless with the ability to upload a JPEG of your receipt!

Keeping track of your business expenses isn't as much work as it sounds. Tracking business expenses is the foundation of good accounting practices and could save you hundreds of dollars at tax time.

Tips for Tracking Your Business Expenses:

• Always pay for business expenses from business accounts rather than personal.
• Consider getting a credit card that you use exclusively to track expenses for your small business.
• Understand what constitutes a business expense, it should be "ordinary" or "necessary."
• Learn more about tracking and deducting your business expenses from the 535 IRS Publication.