Expense Tracking for Startups: Do's and Don'ts
Stop throwing receipts in a shoebox. Modern expense tracking saves time, ensures compliance, and prepares you for tax season.
By Emily Clark · CPA
· 1 min read
Expenses
For many founders, expense tracking is an afterthought. But as you scale, "shadow spend" and lost receipts can bleed thousands from your bottom line.
DO: Digitalize Immediately
Use an app to snap a photo of every receipt immediately. OCR technology can extract the data, so you don't have to type it in.
DON'T: Mix Personal and Business
This is the cardinal sin of accounting. It pierces the corporate veil and makes tax audits a nightmare. Always use a dedicated business card.