Freelancers rarely lose track of the big purchases. It's the small ones that slip: the train ticket, the software renewal, the printer ink. By the time your accountant asks, the paper has faded or gone. Tracking expenses is a habit more than a tool: record each one when it happens, and close the month. This guide covers what to record, how to set up categories, why to keep the receipt image, and what to send your accountant, then how to do all of it with Receipt Cat, our receipt app for iPhone and iPad.
What to record for each expense
For every business expense, write down:
- Who you paid: the shop, supplier or service.
- The date of the purchase, not the day you got round to it.
- The total and the currency, plus the tax or VAT if the receipt shows it.
- A category, so you can see where the money goes.
- Business or personal, if you ever use one card for both.
- Which client or project it was for, if you bill expenses back or want to know what a job really cost.
- A short note: what it was for, or who was at the lunch.
Record it the same day if you can.
Pick categories that match your books
Keep the list short. Ten clear categories you actually use are better than forty you'll mix up. If your accountant already sorts your costs a certain way, use the same names, so their spreadsheet and yours match.
Keep the receipt image
A line in a spreadsheet says you spent the money. The receipt shows what you bought. Keep a picture of every receipt with its record, so you never have to dig through a shoebox. What you must keep, and for how long, depends on where you work: ask your accountant or check with your tax authority.
Close each month
Once a month, check that every expense has a total and a category, look at the month's totals, and send your accountant a summary and a spreadsheet. If you do it monthly, year-end is just twelve files.
Track expenses with Receipt Cat
Getting receipts into the app (scanning, importing, long receipts) is covered in how to scan receipts on iPhone. Here's how to turn them into an expense routine.
1. Set it up once
Tap the gear at the top left of Home to open Settings. Under New receipts, set Currency and Usually to Business, so every new receipt starts as a business expense.
Then tap Categories. You start with Meals, Travel, Lodging, Fuel, Office, Software, Groceries, Equipment and Other. Tap Add Category for your own, tap one to rename it (its receipts follow), tap Edit to drag them into order, or swipe to delete one. Deleting a category moves its receipts to "Other".
Under On reports, type Your name and Company. They're printed at the top of every PDF report.
2. Record each expense
Open a receipt and fill in what wasn't read: Merchant, Total with its currency, Date and Category. Once you've set the category for a store, the next receipt read from that store starts with the same one.
Below that, the Business / Personal switch marks what it is. Turn on Reimbursable if a client or employer owes it to you, and Already reimbursed once they've paid.
Open More for the rest: Tax / VAT, Payment, Project / client, Tags and Notes. When you start typing a project, the names you've used before come up to tap, so "Acme" doesn't turn into "ACME Ltd" next week.
No receipt at all? On Home, tap Import, then Type It In (No Receipt). If the receipt turns up later, open the expense and tap Add a photo of the receipt.
3. Keep the image with it
Every scanned or imported receipt keeps its image. Tap it to see it full screen and pinch to zoom. To send one to someone, tap … (More actions), then Share Image.
4. Check your month
Home groups receipts by month, with each month's total next to its name. Tap the line under the top panel (for example, "October so far") to open Monthly Totals: a chart of the last 12 months in the currency you use most, and for each month the total in every category with its count. Receipts in different currencies are listed side by side and never added together.
The chips on Home narrow the list: To check shows what you haven't confirmed yet, Reimbursable shows what you're still owed, and Business, Personal and each category show just those.
5. Send it to your accountant
In Monthly Totals, tap Report for this month. Or tap Report at the top right of Home and pick a range: This month, Last month, This quarter, Last quarter, This year, Last year or Custom.
Under Include, choose All, Business or Personal, turn on Reimbursable only or Leave out reimbursed, pick Categories, or pick one Project / client for an expense claim to that client. Under Report, leave Attach receipt images on to add the receipts themselves, and choose the Paper size.
Then pick your format:
- PDF Report: your name and company, the total, the tax or VAT included, the reimbursable amount, totals By category and a numbered table of every expense. Each attached receipt image carries the same number as its row, so anyone can match them up.
- Spreadsheet (CSV): one row per expense with Date, Merchant, Category, Amount, Currency, Tax, Payment, Type, Reimbursable, Reimbursed, Project, Tags, Notes and Warranty until, ready for your accountant's spreadsheet.
If a receipt is still being read, the report leaves it out and tells you how many are waiting.
If you drive or bill for your work
Driving to clients? Keep a separate record of the trips: see how to keep a mileage log. And if you pass costs on to clients, how to invoice a client as a freelancer walks through the invoice side.
What it costs
Recording expenses, categories, monthly totals, and the PDF and CSV reports are free, with no watermark. There's no account and no subscription. Receipt Cat Pro is an optional one-time purchase that adds Mileage and per-diem lines, Report branding and One total in your currency to your reports. More on the Receipt Cat page.
Quick answers
What's the easiest way to track business expenses?
Record each one the day it happens, with the receipt image, a category and a note. Then check your totals and export once a month.
Can I export my expenses to a spreadsheet?
Yes. In Receipt Cat, tap Report, pick the dates, then tap Spreadsheet (CSV).
How do I track expenses with no receipt?
Tap Import, then Type It In (No Receipt), and fill in the merchant, total, date and a note.
Which expenses can I claim on my taxes?
That depends on where you live and how you work. Receipt Cat keeps the records; ask your accountant or check with your tax authority.
Try Receipt Cat
Try Receipt Cat: free, no watermark, no sign-up → iyio.com/apps/receipt-cat