Setting Up Your Consulting Practice

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Technology

Topic: Tracking Expenses

An expense tracking tool such as Expensify can make it far easier to submit your project-related expenses to a client

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Get yourself an account with Expensify. In my experience, it’s the best way of tracking your expenses, your client expenses when traveling for business. 

It is the worst to be at the end of the month and trying to pull together a bunch of paper receipts and take pictures or scans of them and then to create a manual list in Excel of all those expenses for the month. It’s such a drag in terms of time and it doesn’t come across that professional. 

Expensify on the other hand, it’s an app as well as it, there’s a website version. When you get a paper receipt, you just take out your phone, snap a picture using the app, categorize it in terms of the amount and the vendor and the location, the date, save it, throw that receipt away.

If you get an email receipt, let’s say from an airline, all you do is you just forward that email to your Expensify special email account. It gets pulled in there and then at the end of the month instead of having this massive headache where you have receipts spread out all over your desk, all you(ve) got to do is select the receipts, click create a report: creates a report for you. You can download that as a PDF and include it with your invoice. 

That report will have a cover sheet listing out all the expenses and images of all of those receipts that you either forwarded as emails or scanned with your phone. It’s easy to create different charge codes. So if you’re working with multiple clients at the same time you can add a charge code on there and then when you’re creating your report, you can select it by charge code. So I highly recommend it. 

I recommended to hundreds of people and all of them once they’ve adopted it, they’ve said they would never go back. So get yourself an Expensify account.