Your business needs expense tracking if you ever wish to meet your financial goals. Your business expenses are the key to understanding what it takes to run your business and maintain profitability.
You need to manage and track your business expenses in order to:
1. Keep the lights on—literally and figuratively
2. Establish a healthy business credit score
3. Determine profits after revenue
Tracking your business expenses is so much more than just making sure you can cover your accounts payable or finding receipts when tax season arrives.