accounting
What is Expense Tracking?
Recording and categorizing all business expenditures to maintain accurate financial records and control spending.
In plain English
Manual expense tracking — collecting receipts, entering them into a spreadsheet, and submitting expense reports — is a notoriously painful process that often results in missed deductions and inaccurate books. Modern expense automation tools use OCR to read receipts from photos, automatically categorize expenses using machine learning, sync transactions directly from business credit cards, and route expense reports for approval. This keeps your books accurate with minimal manual effort.