Now is the perfect time to give your finances the attention they deserve by organizing your expenses to reduce year-end stress. Just as we track revenue, it’s important to keep track of our expenses. If reading that first sentence caused you angst because you don’t have a system in place to track your expenses, you are not alone—and I’m here to help!

Keeping track of expenses doesn’t have to be a stressful year-end scramble. By dedicating a few minutes each month, you can make financial organization a regular (and manageable) part of your business routine.

Stay organized year-round with these simple monthly habits for managing expenses:

1. File Receipts Right Away. Make it a habit to file receipts as soon as you receive them. Whether you take a photo on your phone or file away the paper copy, organizing immediately helps prevent digging through a pile of expenses and having to recall details months after the purchase. I clearly label all of my digital receipts and file them in a digital folder named “Taxes,” with subfolders for each year. This system makes it easy to locate any receipt if my accountant requests one.

2. Use One Place for Expense Tracking. Choose one tool or app (like QuickBooks, Expensify, or a dedicated Excel or Google Sheet) and stick with it. Use what works best for you and your business. This way, all your expenses are in one place, making tracking simple and consistent each month. 

If you have a lot of monthly expenses, such as frequent business travel, I recommend automating wherever possible. As a busy entrepreneur, your time is precious. Look for tools that can streamline expense tracking by automating tasks, such as receipt scanning or linking your bank accounts directly to your tracker. Apps like Expensify, for example, can import receipts and categorize expenses automatically. Automating these small steps can save you time and keep your finances organized without extra effort.

3. Reconcile Statements Monthly. At the end of each month, take a few minutes to reconcile your bank and credit card statements. This helps ensure all expenses are accurately recorded and helps you catch discrepancies that could be missed if you wait three, six, or nine months to review them.

4. Categorize Expenses as You Go. As you log your expenses, categorize them (e.g., travel, office supplies, software). This way, you’re building an organized financial picture month by month, making it easier to spot trends and tax-deductible items.

5. Set Aside Time for a Monthly Review. Dedicate time at the end of each month to review expenses and track spending. This brief routine gives you a clear snapshot of your business health and sets you up for a smooth year-end process.

With these simple habits, organizing expenses becomes a quick monthly task instead of a year-end headache. And your tax professional will thank you!

Living in New England, the change of seasons brings me such joy. There’s something grounding about watching nature shift and renew as if gently reminding me to pause, reflect, and embrace change.

This photo was taken in mid-October 2024, just as the leaves had begun to change. The late afternoon sky was magical, a perfect backdrop for those early bursts of color. Moments like this remind me how beautiful it is to be present for nature’s little gifts.

How about you? What do you love most about the change of seasons? Let me know here. ; I’d love to hear your thoughts and stories!