Keeping track of your business expenses is the easiest way to save money on your taxes and make sure you’re getting all the write offs you deserve. But when you’re busy and on the go, organizing your receipts and tracking your expenses is usually the last thing on your mind.
In the past few years, a variety of new software has been developed to help individuals and business owners track and manage their expenses using digital receipts and receipt scanning software. Here are our top 5 ways to use tech tools to track your spending:
1. Consider going paperless
The #1 reason people make mistakes tracking their expenses, or forget to include lucrative write-offs on their taxes, is because they’re still using hard copy methods. Paper receipts and reports get lost, misplaced, smudged, and torn. Not to mention the damage they do to the environment. Going paperless will make all of your expenses instantly searchable within your chosen software application. More »