As the year is coming to an end, it’s time to start thinking about taxes. What are you using to track your business expenses? I’ve been using Receipts and it does exactly what I want but I was hoping there was a solution that could be used on both iOS and iPadOS. I would prefer to have the app keep a copy of the receipt along with metadata on the transaction so I can run reports at the end of the year. Any suggestions?
My business expense tracking needs are relatively small as a one-person consulting company, and for the past few years I have used YNAB youneedabudget.com for both my personal and my professional expense tracking and budgeting. For the single YNAB subscription price, you can have several budgets, so I run two: one for home and one for the business. I track all expenses and code them based on IRS categories. When I do my taxes, I enter the total amount for each category, which is easy to get from YNAB. As backup, I have all the individual entries that were made real-time in YNAB. I also have lots of receipts scanned into DevonThink so if I ever needed to show a receipt, I could find them there.
I used to use a more complex system but this method has served me well for several tax years.