Effortless expense tracking
What are expenses?
It’s just as important to track money out, as it is to know how much cash you have coming in. Here’s how you can use CloudBooks to keep track of expenses.
What are expenses?
Expenses are when you’ve paid personally for a business cost.
For example, you’ve bought a train ticket to go and visit one of your customers, but you used your personal credit card to pay for that, rather than your business debit card.
It’s perfectly OK to do that, and because it’s a business cost, it’s also perfectly OK to include it in your accounts and – almost always – to claim tax relief on it by doing so.
But you do need to keep track of business costs that you’ve paid for personally, so that you know how much your business can legitimately pay back to you for expenses, and so that your business’s profit and loss account is correct.
Here’s how CloudBooks can help you manage your expenses:
- Record a new expense
- Enter a mileage expense
- Charge a customer for an expense
- Record reimbursement of expenses
If you have any questions about expense tracking or anything else you would like to talk through get in touch with our super-friendly Support Accountants:
Email: support@CloudBooksapp.com
