- Categorize Expenses Properly:
- Always categorize your expenses correctly to make tracking and reporting easier. Accurate categorization allows for better financial analysis and smoother tax filings.
- Attach Receipts and Documents:
- Attach receipts or invoices for every expense to maintain an accurate record and make future audits or reimbursements easier.
- Set Reminders for Recurring Expenses:
- If you have recurring expenses (e.g., monthly subscriptions), consider setting up reminders so that you don’t forget to enter them into the CRM.
- Use Billable Expenses:
- If you incur expenses on behalf of a customer (e.g., travel, meals), always mark them as Billable. This ensures you can easily create invoices to recoup those costs.
- Track Payments:
- Regularly update the payment status of each expense. This helps you maintain a clear picture of your financial standing and ensures you don’t miss any payments.
- Use the Expense Reports:
- Utilize the Reports feature in the Expenses module to get a snapshot of your business’s spending. You can generate reports based on categories, dates, customers, or payment status to get a deeper understanding of your finances.
Best Practices for Managing Expenses
< 1 min read
Updated on May 1, 2025
