How to manage and keep track of business expenses

Overview

It’s important to manage and keep track of business expenses so that you can budget accurately, pay the right amount of taxes and make informed business decisions. This article explains how to do it. This version is adapted for Nexbal with a shorter, practical structure.

Key Takeaways

• 1. Make a budget
• 2. Use accounting software
• Pro tip: Invoice software speeds up the process

Practical Checklist

1. Define the process and responsibilities before you invoice.
2. Verify customer data, amounts, taxes, and due dates.
3. Use a consistent template and keep documentation in one place.
4. Follow up unpaid invoices with a predictable reminder flow.