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Expense Tracking

7mrvrentals
Day-tripper II

Hi,

Looking to hear ideas on the best way to track expenses throughout the year. What is your go-to?

8 REPLIES 8

JordanB
Weekend warrior II

For me, it’s a very low-tech excel sheet and a folder full of scanned receipts. It’s slow and clunky, and I would love to find something more streamlined. We only rent our one RV on the side, so thankfully there aren’t too many expenses to track. I’m interested to see what others have used, and if there are any low cost options out there

That's where we are at to Jordan! 

jim_hofer
Weekend warrior

I second Jordan's post.  Keep it simple.  The most important thing is to keep receipts.  Scanning is ridiculously easy with apps like TurboScan.  I can capture images before I lose the receipt.  Quickbooks is an option, but for a rig or two, I keep it simple.    A spreadsheet and some pdf scans and you're on your way...that's my experience anyways!

See you out there--Camper Jim

Thanks for the feedback Camper Jim! 

JordanB
Weekend warrior II

I wanted to follow-up on this, because this post inspired me to look at simple solutions that would just make the receipt scanning process easier, and I found that Expensify works pretty well for that.

There are quite a few features Expensify has that I don't use (imports credit card transactions, tracks mileage, allow submitting expense reports), but the receipt scanning lets me use their phone app if I'm at a store somewhere, or their website when I buy stuff online to upload receipts right when I get them. At the end of the month, I can do a bulk export of all transactions and paste them into my existing Excel sheet that I track everything in (it even includes links to the uploaded receipts for each one).

This removes all the manual steps I used to do (get receipt, remember to take receipt home, scan receipt, upload to google drive, manually enter date amount description store and such in excel, ...) so I'm happy with it. Most of the other stuff out there didn't have some of the core features I needed, or was way to complicated for what I was trying to do (these were full bookkeeping apps that just had receipt scanning as one of the features).

The service is free too unless you want more than 25 "Smart Scans" per month (automatically parses data from receipt when you upload it), but I almost never buy more than 25 things per month for our single RV, so it works out.

Anyways, not trying to turn into a walking advertisement, but if anyone is still looking for something it may be worth testing out.

JordanB, thanks for mentioning Expensify.   I am going to try it for 2023 and see how it works.  

I have been using Stride to track miles and TurboScan to capture receipt images. Those two apps along with an envelope stuffed with receipts, a flat bed scanner, and a CPA are what I've used.  Ha!  Seriously, though.  I do use an accountant.  I'd get things all messed up if I didn't!  See you out there, Camper Jim

Dherteux
Day-tripper III

My answer is not for everyone,  I married an accountant.....  Seriously, we use excel spreadsheets

Some people have all the luck!  😊