I don’t know about you but I find keeping track of my expenses the hardest thing to do, it goes in my “do it later basket” until BAS is due and I go into a panic!
Luckily I have a great bookkeeper on my team and my accountant is great in explaining how things work.
So how do I keep track?
- First of all I keep all my receipts, just put them somewhere so I don’t lose them.
- Secondly I file all tax/ BAS related payments under Tax in my email account and I so when needed I can easily forward them onto my bookkeeper and accountant.
- The third which is the best thing since sliced bread is, I have signed up for an online account software to issue my invoices and track my expenses. There are a few around, you might have heard of Xero, but it starts from $25 per month and gives you up to 20 transactions so I after some googling I found Saasu which is only $15 per month and gives you up to 50 transactions per month and even better I can upgrade and downgrade the plan at any time.
The best thing is I can also add my bookkeeper and accountant to this online account so we all have access.
So how do you keep track?
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