Expense Tracking Overview
Understanding your costs is essential to running a profitable business. The Expense Tracking feature lets you record, categorize, and review all your business expenses directly in your POS.
What is Expense Tracking?
Expense tracking lets you log money your business spends. You record each expense with an amount, category, date, and optional receipt. This gives you a clear picture of where your money goes.
Your POS stores all expense data alongside your sales data. This makes it easy to compare income and costs in one place.
Why Track Expenses?
- Know your true profit. Revenue alone does not tell the full story. Subtract expenses to see real profit.
- Spot spending patterns. Identify which categories cost the most over time.
- Prepare for tax season. Keep organized records of deductible business expenses.
- Make better decisions. Use expense data to cut unnecessary costs and invest wisely.
What You Can Track
You can record any type of business expense. Common examples include:
| Category | Examples |
|---|---|
| Supplies | Packaging, cleaning products, office supplies |
| Rent | Monthly store or office rent |
| Utilities | Electricity, water, internet |
| Inventory | Stock purchases, raw materials |
| Marketing | Ads, flyers, social media promotions |
| Maintenance | Equipment repairs, store upkeep |
| Transportation | Delivery costs, fuel, vehicle maintenance |
| Other | Miscellaneous or one-time costs |
Key Features
- Categorize expenses. Group spending by type for easy analysis.
- Attach receipts. Take a photo of your receipt and attach it to the record.
- Filter and search. Find expenses by date range, category, or keyword.
- View totals. See total spending by category or time period.
- Edit anytime. Update or correct expense entries as needed.
How Expenses Help Profit Calculations
When you track both sales and expenses, your POS can show you a clearer picture of profitability. Your reports factor in recorded expenses to calculate net profit alongside gross revenue.