Question 1

What's the simplest way to start tracking expenses?

Accepted Answer

Corporate card with built-in expense tracking. Ramp, Brex, Mercury—receipt capture via app, automatic categorization. No manual entry.

Question 2

How do I handle employee reimbursements?

Accepted Answer

Better to eliminate with corporate cards. If needed, use Ramp or Expensify for quick submission and approval. Set clear policies and approval workflows.

Question 3

Should I use personal cards for business?

Accepted Answer

No. Opens liability issues, complicates taxes, makes tracking hard. Get a business card immediately. Separation is essential.

Question 4

How do I categorize expenses properly?

Accepted Answer

Match your accounting chart of accounts. Modern tools auto-categorize. Review monthly. Categories like SaaS, Marketing, Travel, Contractors are common.

Question 5

What about tracking SaaS subscriptions?

Accepted Answer

Ramp and similar tools detect subscriptions automatically. Flag unused ones for cancellation. Audit quarterly. Subscription creep is real.

Question 6

How do I set spending limits for the team?

Accepted Answer

Corporate cards allow per-card limits. Some allow category limits. Approval workflows for over-threshold. Balance control with trust.

Question 7

Do I need an expense policy?

Accepted Answer

Yes, even small teams. What's reimbursable, limits, approval process. Prevents confusion and abuse. Keep it simple and practical.

Question 8

How do I handle receipts?

Accepted Answer

Mobile apps capture instantly. Take photo when you buy. Auto-match to transactions. No more lost receipts or end-of-month scramble.

Question 9

What about international travel expenses?

Accepted Answer

Cards with no foreign transaction fees. Capture receipts in any currency. Tools convert automatically. Set per diems for simplicity.

Question 10

How do I connect expenses to accounting?

Accepted Answer

Most expense tools sync with QuickBooks, Xero. Automatic categorization and export. Monthly reconciliation much faster.

Question 11

Should I use an accountant for this?

Accepted Answer

Good tools reduce accountant time but don't eliminate. They categorize; accountant reviews. Better data means cheaper accounting.

Question 12

How do I handle petty cash?

Accepted Answer

Minimize it. Corporate cards for almost everything. If needed, track in simple spreadsheet, reconcile monthly. Limit amount kept on hand.

Question 13

What about contractor expenses?

Accepted Answer

Include in contracts who pays what. If you reimburse, have them submit like employees. Or give them a corporate card with limits.

Question 14

How often should I review expenses?

Accepted Answer

Weekly glance, monthly deep dive. Look for anomalies, unused subscriptions, budget vs actual. Quarterly audit for waste.

Question 15

What reports do I need?

Accepted Answer

Monthly by category, by person, by project if relevant. Trend over time. Comparison to budget. Most tools provide these automatically.

I need to track and manage company expenses properly

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Ramp

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