Expense, bill and debt trackersMonthly
Small business expense tracker
A monthly expense log for a sole proprietor or side business. Each line records the date, vendor, what the money was for, category, how you paid, a receipt box and the amount. Category totals follow the expense lines on Schedule C.
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On this page
What prints
The page is titled Business Expense Tracker, with write-in lines for the business name and the month. The table has seven columns: date, vendor, what for, category, paid with, Rcpt and amount. The Rcpt column holds a tick when the receipt has been filed. Under the table you get a Total this page box and a reminder to keep the receipt for anything you deduct.
The Totals by category (Schedule C lines) box has a blank for each of 13 categories: Advertising, Car and truck, Contract labor, Insurance, Legal and professional, Office expense, Rent or lease, Repairs, Supplies, Travel, Meals, Utilities and Other. The names are shortened versions of the expense lines on Schedule C. You write every total yourself.
The settings
- Heading. Leave it blank for the standard title, or type your own.
- Tracker type. Small business, which gives the vendor and receipt columns. Personal gives the household version.
- Rows. 15 to 34 lines per page.
- Category totals box. On or off.
Why the "what for" column matters
Many business deductions depend on the reason for the spending, and a vendor name alone rarely tells that story. "Staples" could be printer ink for the shop or a binder for your kid. Write a few words each time, and file the receipt the same day if you can. Publication 583 covers what records a small business should keep, and the Schedule C instructions describe each expense line.
Sort into categories as you go, not in April. A year of monthly pages with category totals makes it much easier to see what belongs on each line of your return.
Worked example: one June page
You run a small print shop. On June 3 you pay $42.18 at the office store for paper, under Supplies. June 7 is a $118.00 insurance premium. On the 12th you pay $60.00 for an online ad. On the 18th you buy toner for $36.82 (Supplies again), and on the 24th you buy a client lunch for $48.50, under Meals. Tick Rcpt on each line once the slip is filed.
Supplies: 42.18 + 36.82 = $79.00. Page total: 79.00 + 118.00 + 60.00 + 48.50 = $305.50. Write $79.00 beside Supplies, $118.00 beside Insurance, $60.00 beside Advertising and $48.50 beside Meals. Business meals have special limits on what can be deducted, so check Publication 463 or ask a preparer before you count on the full amount.
Before you file
Keep the pages with the receipts they refer to. How long to keep them depends on your situation, and the IRS recordkeeping page is the place to check. This is a log, not tax advice.