MBA1024 Get A Handle on Tracking Your Expenses and Receipts

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 12 June 2018

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Accounting can get out of hand, quickly — even when you have an accountant!

With a million little business expenses going out every day, it can be maddening to try and keep track of each transaction. Factor in multiple team members using different methods of payment, and any entrepreneur can easily lose the thread. What’s a business owner to do?

We’ve got a system.

There’s no shortage of accounting software and expense-tracking apps. In fact, the choices are overwhelming. But we’ve established a system for our business that works beautifully, and we think it’ll work for you too. We only use 3 — count ‘em, 3 — software tools, integrated into one simple, easy, headache-free process.

As your business grows (and tax time approaches), you’ll want to have your finances in order. Try our system, and see how stress-free it can be. Click Play!

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA Show, the Business Podcast,
0:13.3	and makes things a little bit easier for you
0:15.1	in the world of business,
0:16.4	with our daily 10 minute business lessons
0:18.2	for the real world.
0:19.8	I'm your host, your coach, your teacher, Omar Zen Home.
0:23.0	I'm also the co-founder of the $100 MBA, a complete business training and community online.
0:28.0	And in today's lesson you will learn how to get a handle on tracking your expenses and receipts.
0:34.3	This can be super overwhelming in business.
0:37.9	They're paying for a service online, you buy something in a physical store, you want to make sure all the things that you pay for
0:44.0	to run your business is tracked.
0:47.0	So one, you can note all your expenses, and of course you need it for tax time, for tax deductions.
0:52.0	But how do you keep track of all this even when you have an
0:54.5	accountant you need to give this to the accountant in a format that they can
0:58.0	understand? I'm sure many of you are listening are like tell me about it
1:01.2	brother. I was feeling super overwhelmed about all of this a few
1:04.3	years ago and then I learned how to put together a pretty cool system. And this system
1:09.5	uses three simple tools, three tools we could all use to just track everything that is
1:15.1	going out of our business, have an easy way to save and keep track of receipts, and
1:19.6	be prepared come tax time so you're not digging up receipts in shoeboxes.
1:25.0	This is not fun and sexy stuff but it has to get done in your business.
1:29.0	So I'm here to make your life a whole lot easier with these tools and the system. So let's get into
	...

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