Hello everyone,
I am new to both accounting and Manager. How do I manage business expenses or what would you suggest me to do?
Currently, here if my flow:
1 - I created a credit card account in Manager,
2 - For every expenses I enter a Payment and paid from the credit card act.
3 - Do a inter-bank transfer at the end of the month from checking to credit card.
4 - I snap a picture of paper receipts and transfer it to computer or screenshot online receipts and save to a folder.
As you can see, the step 2 and 4 is time consuming as well as it not easy to look up a receipt later on unless I have to name every receipt pictures to a meaningful descriptive ones.
I am thinking of subscribing to an online service like WAVE to keep track of all receipts, then on the Manager I only create one lump sum expense at the end of the month. Would this work?
Any inputs are appreciated.