Expense Tracking for Self Employed/Solopreneur

There’s a lot to love about working for yourself—but managing your business finances isn’t always one of them. Whether you’re flying solo as a freelance consultant or leading a small event planning agency, one thing is certain: you’re responsible for keeping your expenses organized and accounted for.

That’s where Expense Tracker 365 comes in. This all-in-one tool is built for self-starters, giving you the ability to track business expenses, send invoices, and manage travel costs—all from a single, intuitive platform. With Expense Tracker 365, you’ll always have a clear view of where your money’s going.

Why Expense Tracker 365 is the Ideal Choice for the Self-Employed

Think of Expense Tracker 365 as your financial command centre. It simplifies the entire process of expense tracking by letting you snap photos of receipts, automate reporting, and categorize spending in just a few clicks. Whether you’re paying for a client lunch or booking a flight for a conference, everything stays organized in one place.

By cutting down the manual work and reducing room for error, Expense Tracker 365 saves you valuable time—so you can focus on growing your business, not crunching numbers.

A quick look at the top features:

Capture Receipts Instantly, anytime

Use our mobile receipt capture feature to take quick photos of your receipts wherever you are. Your uploads are automatically sorted and categorized, making it effortless to log business expenses on the move. Small business receipt tracking has never been this seamless

Effortless Mileage Tracking

Just enter your starting point and destination, and our mileage tool does the rest. It calculates the distance travelled and applies the latest IRS reimbursement rate—no guesswork, no spreadsheets, just accurate mileage records every time.

Simplify Invoicing and Get Paid Faster

Create professional invoices in minutes and keep tabs on every payment—no extra tools needed. Give your clients the freedom to pay their way, whether it’s with a credit card, debit card. It’s smooth for them and stress-free for you.

Connect Seamlessly with Your Accounting Tools
Expense Tracker 365 works effortlessly with your favourite software—from travel and HR platforms to accounting tools—so everything stays in sync. Automate data transfers, reduce manual entry, and stay ready for tax season or audits without the extra hassle.

Easily Reconcile Credit Card Transactions

Whether you’re using a personal business card or a company-issued one, Expense Tracker 365 makes it simple to match charges with your expense records. Review transactions, verify amounts, and keep your spending organized—all from one smart dashboard.

Get Clear Financial Insights with Custom Reports

Build tailored expense reports that give you a real-time snapshot of your business finances. Whether you need a breakdown by category, client, or project, Expense Tracker 365 helps you track cash flow and make smarter financial decisions with confidence.

Unlock Smarter Expense Tracking: Book Your Demo Today

What Expenses Should Self-Employed Professionals Be Tracking?

When you’re running your own show, your business expenses can stack up fast. Keeping tabs on them is key—not just for budgeting, but also for tax deductions. Common deductible expenses include:

Home office costs – from internet bills to a portion of your rent or mortgage

Office and desk supplies – pens, paper, printer ink, and more

Business equipment – laptops, phones, or tools specific to your trade

Software and app subscriptions – project management, design, or finance tools

Marketing and advertising spend – including digital ads, branding, and website services

How to Effectively Track Expenses for Your Small Business

As a solopreneur or self-employed professional, you’re juggling multiple roles—and managing your business finances is one of the most important. Keeping track of your business expenses, from receipts and invoices to travel expenses, is essential not only for maintaining smooth cash flow but also for staying on top of tax obligations and compliance

Here’s a Simple Guide to Tracking Your Self-Employed Business Expenses:

Save Every Receipt
Keep a record of all receipts for business-related expenses—whether it’s for meals, transportation, lodging, or any other necessary costs.

Leverage Expense Management Tools
Use an expense tracking software to monitor your spending in real-time, ensuring that every dollar is accounted for and easily accessible when you need it.

Maintain a Detailed Expense Log
Track each business expense in a detailed log, noting the date, amount, purpose, and category. This log is crucial for tax deductions and ensures you’re well-prepared for audits.

Separate Personal from Business Expenses
To avoid confusion and ensure accurate tracking, keep your personal and business expenses distinct. This will help maintain clarity and simplify your accounting process.

Know the IRS Rules
Educate yourself on the IRS guidelines regarding business expense deductions, including what can be claimed and any limitations that may apply to certain categories of spending.

Consult with a Tax Expert
Don’t hesitate to reach out to a tax professional if you’re unsure about tracking your expenses or claiming deductions. Their expertise can help ensure you’re compliant with IRS rules and maximize your eligible deductions.

Effortlessly Track Travel Expenses with Expense Tracker 365

Tracking travel costs has never been easier. Forget about losing paper receipts or scrambling to organize them at the end of your trip. With Expense Tracker 365, simply capture receipts using the app, and watch as they’re automatically categorized for you. If you use services like Uber, the seamless integration ensures your digital receipts are logged too, so you can focus on enjoying your journey without worrying about your expenses

Conclusion

Managing expenses as a self-employed professional can feel overwhelming, but staying organized is key to keeping your finances in check. By tracking everything from receipts and invoices to travel and office supplies, you ensure that your financial picture is always clear and accurate. With the right tools, like Expense Tracker 365, you can easily monitor your spending, separate business and personal expenses, and stay prepared for tax season.

Experience Effortless Expense Management

Book a demo to experience seamless expense management tailored for self-employed professionals.

Frequently Asked Questions

What expenses should I track as a self-employed individual?

As a self-employed professional, you should track any expense related to running your business. This includes office supplies, business-related travel, software subscriptions, marketing costs, and a portion of your home office expenses. Keeping detailed records ensures you can claim deductions and stay organized for tax purposes.

How can I separate personal and business expenses?

To avoid confusion, open a separate business bank account and use a business credit card. This makes it easier to track and categorize business expenses, ensuring you only claim what’s relevant to your work, and stay compliant with IRS guidelines.

What’s the best way to track business expenses on the go?

Using an expense tracking app like Expense Tracker 365 allows you to scan receipts, log travel expenses, and categorize spending in real-time, making it simple to track your expenses wherever you are, without the hassle of manual entry.

How do I stay prepared for tax season?

By consistently tracking and categorizing your expenses throughout the year, you’ll have all your records ready for tax season. You can use expense management software to generate detailed reports, making it easy to identify deductions and avoid costly mistakes.