Listen, the reality is this, tax season is stressful! There’s no way around it. You have to make sure you have all your documents together while trying to track your expenses and keep up with the ever-changing tax laws. That’s a mouthful!
And remembering what you spent your money on over the past year and whether or not that expense can be deducted is enough to send you right over the edge.
No worries, there’s good news. Even though technology has a tendency of being a bit of a hassle, it does have its perks. Especially when it comes to helping with our taxes.
How?
Apps! Both mobile and desktop apps and tools can be a huge stress reliever during tax time.
When you’re a small business owner you’re focused on running your business as efficiently as possible. Paperwork has a tendency of taking a backseat until it’s time to reconcile your accounts at the end of the month.
That doesn’t mean you’re inefficient as a business owner, it’s just that you’re focused on the everyday function of the business itself.
With the growth of technology, keeping track of your records has become a little easier.
A simple click of a few buttons and these apps/tools can help you track your expenses throughout the year making it easier to keep track of finances for tax season.
However, there is no one-size fits all expense tracking plan. And that’s okay!
What Are Some of the Apps and Tools That Are Available?
The internet has an abundance of information on how to organize your business expenses.
Here are just a few to take a look at:
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Expense Tracker-Scans, reads and imports all receipt details and is a good way to manage and record expenses. You don’t have to worry about finding that paper receipt.
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Quickbooks Online-is a comprehensive program that offers one of the largest financial management programs for small-business expense tracking. A top feature is its ability to upload receipts with a photo. It then automatically matches that receipt to an existing expense or creates a new one. It also has the ability to track inventory, create invoices and more.
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BizXpense Tracker-this app is also good for small business owners. It can capture all expenses, mileage and time.
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Wally-Was created with millennials in mind. It’s an integrated expense tracker app that helps you get rid of all your old sticky notes, by centralizing and syncing financial accounts to provide insight into how much money you’re spending by using graphics.
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Everlance-This is popular among self-employed individuals. This app allows you to track mileage, expenses and receipts. You can also customize it for recurring expenses and transactions.
A mobile application is a game-changer for today’s world. There are plenty of different ways to keep your spending in check, depending on what works best for you-whether it’s daily transactions or monthly statements from last year’s credit card bills alone (or both!). You just have to decide which one will fit your needs!