Regular expenses, usually taken care of via direct debit, are the easiest to track. Day-to-day expenses, like fuel and supplies rarely present a challenge either and connecting your bank account to your accounting app is one of the easiest ways to reconcile those.
It’s the ad hoc, sometimes unforeseen expenses which can be the most challenging to keep track of. Paying a business expense from your personal account, or using cash when you’re on the road, makes it much more likely that a claim will be lost or forgotten.
This is where an accounting app like Rounded with a mobile offering comes in really handy. It enables you to digitise the process of tracking your business expenses and move on from the days of digging out faded receipts from the glovebox.
Download the iOS or Android App, sign in and managing expenses will take a whole less time and effort. Take a photo of your receipts, capture the transaction, and reconcile it in seconds. Remember bank feeds are also now available on mobile which makes things even easier!
If you’re worried about being audited and keeping paper records, the great news is that electronic copies of receipts are perfectly acceptable to the ATO.
Managing your expenses via mobile and app will save you a huge amount of admin time and deliver peace of mind, knowing you’re claiming back every cent possible.