Finally, an Expense Tracking App Made Simple
A powerful but simple expense tracker app that makes tracking business expenses super easy. You’ll know at a glance what you’re spending and how profitable you are, without shoeboxes of receipts and spreadsheets.
Track Business Expenses Without Lifting a Finger
Connect your bank account or credit card to the FreshBooks expense tracker app and say goodbye to manual entry. Your FreshBooks account is automatically updated daily so your books are always up-to-date.
Keep Project Spending On Track
Tracking expenses in FreshBooks means your team can keep tabs on how much they’re spending on projects. It also means you can keep a close eye on how things are tracking to budget.
Easily Bill Your Client For Expenses
Forget about leaving money on the table. With the FreshBooks Expense tracker, you can quickly mark your business expenses as billable, add a markup and then automatically pull them onto an invoice for your client.
Easy Expense Tracking Continued:
- Multi-currency expenses
- Auto-categorisation of expenses
- Tax-friendly categories
- Easily-assigned recurring expenses
- Automatically import expenses from your bank
- Easily mark expenses to rebill to a client later
- Snap and store pictures of receipts in the mobile app
- Secure receipt storage in the cloud so mobile and desktop are always in sync
Frequently Asked Questions
Can I import my expenses from a file or automatically track them?
You can import business expenses by uploading a CSV file as well as having FreshBooks automatically track them by connecting your bank or credit card accounts, as FreshBooks is open-banking compliant.
If you want to import your expenses in bulk with a CSV file, you just need to ensure your file is populated with the necessary fields, and then select “Import Expenses from a File” from the “More Actions” button in the Expenses section of your FreshBooks account.
You can also connect your bank accounts to your FreshBooks account so the expense tracker app automatically tracks your expenses. You can read more about how to connect your bank here.
Here’s an easy read about all things expense import – Automatic Expense Import in FreshBooks.
I paid for something on behalf of my client. Is it easy to charge that expense back to them?
Yes! FreshBooks automatically shows you which expenses you’ve incurred for each client and lets you add them to any invoice in just a few clicks, so you don’t have to dip into your finances.
Whether you paid in cash, with a credit card, a debit card or any other way, FreshBooks automatically shows you any business expenses you’ve incurred for each client and lets you add them to any invoice in just a few clicks. You can assign expenses to a client or project when they’re incurred, and then you can mark these expenses as billable so that your client will be invoiced for them later.
The financial costs of not rebilling business expenses can add up, so the best expense tracker apps make it easy to add a customer expense to an invoice and help your cash flow.
Learn more about rebilling an expense.
Number 4 on this list of “10 Advanced Invoicing Tips to Get Paid Even Faster” is all about rebelling expenses and why it’s important. Check it out.
Does FreshBooks have any reports that I can use to see how much I’ve spent? Can I use that when I file my taxes?
The best expense tracker apps allow you to seamlessly add your expenses to detailed financial reports for your business. FreshBooks offers reports that show all the money flowing in and out of your business, so you know exactly where you stand.
There’s even a dedicated Expense Report that shows the details of each expense, when you paid for each expense, and how you categorised each expense. Applicable taxes for your business are included in these reports as well. You can find your Expense Report in the Reports section of your FreshBooks account, under “Invoice & Expense Reports”. You can use the Expense Report when you file your taxes to get a summary of your spending habits throughout the year.
Read this article to learn more about essential tax time reports: 3 Reports You Can’t Live Without at Tax Time
Why should I categorise my expenses?
It’s important to categorise expenses so you can identify what areas of your business you might be overspending on. Expense categories also help you maximise your deductions and credits at tax time.
FreshBooks provides default Expense categories and subcategories for you to choose from. You can categorise your business expenses easily under Advertising, Car & Truck, Employee Benefits, Meals & Entertainment, and more. You can provide even more granularity to your expense reports by using expense subcategories.
Some business expense tracker apps don’t let you customise your expense reports, but with FreshBooks, you can create custom expense subcategories that are specific to your business’s unique needs and expenses. You can also create custom expense subcategories in flight while editing a business Expense.
Deepen your knowledge about the importance of expense tracking and expense tracker apps with this great article: Why You Should Track Your Business Expenses Daily
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