Every entrepreneur has to tackle their finances at some point, which isn’t always easy if you are more artistically inclined than financially. You have a passion for creating tote bags with punny sayings on them and to be honest, aren’t dying to set up an accounting system.
When you are just getting a business up and running, you won’t need a complicated system, but you will have to stay organized. Wally is a personal finance app that you can use to keep track of the money you are spending which will help keep you from overspending.
Every expense is broken down into a category so you can see what you are spending on supplies, travel, or advertising, just to name a few. This app lets you log the details of your expenses so you can always remember what each one was for. You can log it by category, amount, venue, time, or add a note with even more details. You can also scan and store receipts through the app so that you can finally toss out all those receipts that have been cluttering your life! Plus it is much less tedious to take a quick snapshot of a receipt than logging info after every purchase.
Log your expenses in Wally and sort them by category, amount, venue, time, or a detailed note.
The app provides you with insights in the form of charts and graphs so you can see where your money is being allocated and keep your budget on track. You can also backup this data to your iCloud or through e-mail. Keep in mind though that Wally doesn’t store any data, which helps to keep your financial information secure.
If you want to keep track of your personal and business expenses on the app, you can do so by classifying if the purchase is for work or personal reasons. Which is super necessary because, for most entrepreneurs, business expenses are coming out of your personal account. The best part about Wally is that it’s free so you aren’t spending any money to keep track of your money!
How do you keep track of your business expenses? Let us know in the comments below and be sure to give us a follow on Stumble Upon!
featured image credit: Stock That Rocks