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Calculating The Total Amount of Expenses and Record Keeping

expense trackingLarge amount of expense takes place while working on a project. Calculating the total amount of expenses and keep the record of each expense occurring during a project is not easy because multiple projects run in a firm at the same time. That is why companies generate expense sheet in which all the expense related to the project are added and organised. Expense tracking is very difficult task for the managers. Timelive introduced by Livetecs gives the feature of expense tracking as well as time tracking. Expense sheet is created within a few minutes by pressing some buttons.

Generating the Expense Sheet

Expense sheet is created just clicking the icon of ‘new expense’ sheet and the user can monitor his previous expense sheet by clicking on ‘my expense sheet icon’. The name of the submitter is also added on the expense sheet so that any confusion that is occurring can be solved. Small descriptions related to the expenses can also be written for the sake of convenience and understanding. The date of the expense is also mentioned and the user can also attach a digital receipt. This makes the expense sheet authentic and more reliable.

organised expense sheetMaking Entries & Supported Expenses

The expenses can be entered against the project which makes the expense sheet more organised and easy to understand. The project on that the worker is submitting the expense sheets are often hand-picked from the drop list menu of ‘Project Name’ for simple access. The expense list is the gift at intervals the appliance from that one will choose the desired one. The supported expenses square measure ‘Air Travel’, ‘Auto Rental’, ‘Car Mileage’, ‘Food’, ‘Gas’, ‘Hotel Stay’, ‘Meal’, ‘Taxi’ and ‘Parking’. The selection of reimburse is gift within the type of the checkbox for marking expense as reimburse or not. Moreover, the standing of the expense sheet may also be viewed and altered in step with the various sections (like submitted, approved and others). The expense sheets generated are often emended and submitted to the supervisors for approvals by clicking on the button and can be deleted.

Taxes and Billable Entries

The billable and non-billable entries are separated by the expense sheet. The client characterized instalment system (as indicated by the accommodation of the client) can be chosen from the different strategies upheld. The choice of selecting the ‘American Express’, ‘Money’, ‘Expert Card’ and “Visa” is there furnishing the client with expanded adaptability. Additionally, the money for the instalment of the cost following can likewise be tweaked in the one in which it is acquired by selecting starting from the drop list menu. According to the necessity of the cost the parameters likewise shift and the organization characterized duty can likewise be inputted inside the cost sheet. In the TimeLive application, the connections (like bills and receipts) can be joined and whether the sum is billable or not is additionally chosen

Alma Reed is an author and researcher dedicated to enhancing productivity. She is deeply interested in areas such as time management, increasing productivity, and fostering healthy routines. Through her writing, she aims to assist people in boosting their job performance and attaining an ideal balance between work and life.

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