I am in need of a great easy to use software to track expenses, mileage and so forth..Hopefully it would be helpful at tax time.. I am currently recording all the information on a make shift program I made up on my computer... I have only been doing this type of work for one year... So any help would be appreciated...... bcurt
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Tracking software for expenses
- Thread starter bcurt
- Start date
Broompilot
Veteran Expediter
Any Spreadsheet will do it. Just add your own colums in. I choose not to do this on a computer on the road. I use twelve enevelopes Jan-Dec with a Colum for each expense about 20 lines deep.
As I collect reciepts they go inside and amount goes under its proper colum. I than let my accountant handle putting it in there choosen spreadsheet. It is simple and than this way they double check any credit card statements against the reciept. I find keeping track and not loosing reciepts in this manner helps me.
I do not know if others suffer from this problem, but my system has all but eliminated the (WHERE THE HECK DID I PUT THAT). I purchased at Wallyworld three envelopes with a tie string fuel goes in red, all truck items in blue, tolls goes in green. This way I am as orginized as I can be not perfect but I no longer loose or wonder what file I put what in. Orginization does not come natural it has to be thought through, now if I can only keep putting them in the proper colored envelope and than transfere to my monthly envelope.
So far so good. Hope this helps.
As I collect reciepts they go inside and amount goes under its proper colum. I than let my accountant handle putting it in there choosen spreadsheet. It is simple and than this way they double check any credit card statements against the reciept. I find keeping track and not loosing reciepts in this manner helps me.
I do not know if others suffer from this problem, but my system has all but eliminated the (WHERE THE HECK DID I PUT THAT). I purchased at Wallyworld three envelopes with a tie string fuel goes in red, all truck items in blue, tolls goes in green. This way I am as orginized as I can be not perfect but I no longer loose or wonder what file I put what in. Orginization does not come natural it has to be thought through, now if I can only keep putting them in the proper colored envelope and than transfere to my monthly envelope.
So far so good. Hope this helps.
Same here for the spreadsheet thing. Only other software used to be Quicken in which you have some preset expenses and you can add a few of your own (sub catagories). Accountants love the computer stuff when you give them the printouts and the receipts together.
Also the Feds love the computerized records, I had a 3 yeasr audit and since it was all computerized and receipts in yearly boxes by month guy was done in 1 day and all ok. Spreadsheets give you a bit more flexibility with columns and doing percentages automatically. I've used this for fuel where I only enter the total and the spreadsheet splits off the GST (needed for rebates from feds). Spreadsheet automatically does totals for month etc as I enter, also have one for the calls as I get the billing price for the run and I perform the split so I know what the call pays.
have fun with the computer.
Fis
Also the Feds love the computerized records, I had a 3 yeasr audit and since it was all computerized and receipts in yearly boxes by month guy was done in 1 day and all ok. Spreadsheets give you a bit more flexibility with columns and doing percentages automatically. I've used this for fuel where I only enter the total and the spreadsheet splits off the GST (needed for rebates from feds). Spreadsheet automatically does totals for month etc as I enter, also have one for the calls as I get the billing price for the run and I perform the split so I know what the call pays.
have fun with the computer.
Fis
The physical (12 envelopes) method is straight forward and simple. I would probably want to sit down on a regular basis and add the envelopes (monthly if not more often) onto a spreadsheet so that I could track my expenses (cost per mile). That way you can know how different variables (maintenance, food, etc) are affecting your profits and (important) be able to track changes in costs so that you can pinpoint an area where losses are starting to mount. I'd hate to find that out at the end of 12 months!!!
Broompilot
Veteran Expediter
I just assumed that this would be handed over to an accountant after the end of a month. Do not wait until you have 12 envelopes completed.
I give mine to my accountant monthly and have a spread sheet that (she) creates and understands. I will never sit in audit that is her job. If they want to know something she cannot answer than she can get back to me. Never give any info that is not asked. Sitting through an audit could be dangerious its best to let the accountant handle that for you.
I am not worried about an audit because I am not cheating on anything but as any of us would not care to go through it. As posted earlier, have our ducks in order and there should be nothing to be worried about.
I give mine to my accountant monthly and have a spread sheet that (she) creates and understands. I will never sit in audit that is her job. If they want to know something she cannot answer than she can get back to me. Never give any info that is not asked. Sitting through an audit could be dangerious its best to let the accountant handle that for you.
I am not worried about an audit because I am not cheating on anything but as any of us would not care to go through it. As posted earlier, have our ducks in order and there should be nothing to be worried about.
If you are looking for one you might of found it, My anme is Frank Katz, Frank's Tax & Business Service, I am located in Kings Mountain, NC and have been doing Income Tax and Accounting services for over 20 years.
I am not a CPA, Or Enrolled Agent, but I was a Truck Driver, O/O, company driver, Expediter. I know all the ins and out of the deductions that can be taken, and can help you get down to your bottom line. I am the moderator for the Tax forum on this site, So if you have any question please do not hesitate to ask.
or e-mail me at [[email protected]]
Frank
I am not a CPA, Or Enrolled Agent, but I was a Truck Driver, O/O, company driver, Expediter. I know all the ins and out of the deductions that can be taken, and can help you get down to your bottom line. I am the moderator for the Tax forum on this site, So if you have any question please do not hesitate to ask.
or e-mail me at [[email protected]]
Frank
Try this program, it's free up to 3 vehicles, or at lest it was when I downloaded it 5 yrs ago. http://milemanager.com/index.htm