1099 Tracking

Here are the key steps involved in expense tracking for 1099 employees:

• Establish a system: The first step in expense tracking is to establish a system for recording expenses. We do this by creating a personalized spreadsheet with categories tailored to your specific business.

• Record receipts: This includes receipts for travel, meals, equipment, supplies, and any other business-related expenses. These receipts should be recorded in the expense tracker.

• Categorize expenses: As expenses are recorded, they should be categorized according to the expense tracking system. This will make it easier to ensure that all expenses are accounted for and it allows you to see where your money goes.

• Generate reports: Though reports can not be generated with a spreadsheet, these personalized trackers have built in formulas to allow you to easily review your profit and loss data by month and by year so you can analyze your business performance in real time.