Expense tracking is not just about keeping receipts. It is about making sure business costs are easy to understand, review and explain.
A good expense system should capture
- supplier name
- date
- amount
- VAT where relevant
- category
- receipt or invoice evidence
- project or customer if useful
- notes for accountant review
Avoid one big folder of receipts
A single folder called “expenses” becomes painful quickly. Split records by month, category or project.
Use expenses, receipt uploads and CSV/Excel imports to keep records searchable.
Categories to review
Common UK small-business categories include:
- software and subscriptions
- travel and mileage
- office costs
- professional fees
- marketing
- subcontractors
- payroll costs
Review before tax time
Do not wait until a deadline. A monthly review helps spot missing receipts and unusual costs early.
Try LedgerlyPro or download the free finance starter toolkit.