![]() ![]() Getting a good idea of your business expenses will help you when making decisions about your business’ finances. Here are the key benefits: Better financial decision making Benefits of using an Excel spreadsheet for business expenses Still not convinced? The next section gives you a list of advantages and benefits of using an Excel spreadsheet to manage your business expenses. Free Excel templates provide you with a simple outline to stick to, as well as flexibility to modify them to fit your business. Using a business expense spreadsheet on Excel is the ideal middle ground between these two options, since the software is relatively simple to use, and inexpensive as well. That doesn’t mean you have to rely on outdated traditional methods like manually maintaining ledgers and books. But that doesn’t mean your business won’t have expenses to report and manage. Sometimes, your business may not have the requisite size or number of employees to warrant getting a subscription. They could also end up being quite inaccessible to first-time business owners who need to learn how to use them properly. Some popular applications are Zoho Books, Quickbooks, Mint, Expensify, and more.īut the problem with expense tracker apps is that they are often way out of the price range that small and midsize companies can afford. These automate many functions, such as having to manually input the expense data every time, and reports give you better insights to make decisions. These include sync with bank accounts, credit cards for your business, and expense report generation, among others. There are several reputed bookkeeping and expense tracker apps in the market, and they are usually the most convenient option for businesses as they come with several useful features. Get Excel Template Why do you need an Excel spreadsheet for business expenses?īusinesses now have a variety of tools to choose from to track and record business expenses.
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