Recording business expenses is a significant task that all businesses owners have to face. Not recording business expenses is like not being able to determine the health of your business. On a daily basis, owners incur business expenses and attempting to record each of those expenses mentally can be distracting from actually running the business. Plus, by merely making a mental note it’s easy to forget which expenses were incurred after a hard day at work. So what’s the best practice for recording business expenses?
The best way to record business expenses is to record it the moment it is incurred. By doing this, there is no way you will forget about any of your business expenses. Once you log the expense, you can be worry free and forget about it. Ever had to sit down at the end of the month and think about which expenses were personal and which were for business? Or have to try to remember who you had lunch with three Wednesdays ago? If you just record the expense the moment you incur it, you’ll save yourself a lot of trouble at the end of the month or year!
Okay, so you might ask, what’s the best way to actually do this? How do I actually record my business expenses the moment I incur it? Easy, if you have a smartphone such as BlackBerry, Windows, iPhone or Android, just download one of these free applications! If you don’t have a smartphone, don’t worry – Xpenser.com allows you to record business expenses through phone calls, texting, and email! Sign up for a free trial today.
Go ahead and give it a try, it’ll save you from a lot of headaches and give you extra hours at the end of the month.
