Expense Tracker

Best practices for Indian businesses: maintain separate bank account for business, record every expense with date/category/amount/description, keep digital receipts, reconcile monthly, use GST-compliant categories (input tax credit tracking). This tool helps with daily quick tracking.

Key categories: Sales & Revenue, Rent, Salaries & Wages, Raw Materials, Marketing & Ads, Utilities (electricity, internet), Travel, Professional Fees (CA, legal), Inventory, Miscellaneous.

Tax-deductible business expenses under Income Tax Act: rent, salaries, raw materials, advertising, professional fees, depreciation, electricity, repairs, travel for business purposes, bank charges. Keep all bills and receipts for audit purposes.

Petty cash management: set a fixed amount (e.g. ₹5,000), record every expense with voucher, replenish when balance drops to 20%, require approval for amounts over ₹500, reconcile weekly. Use separate petty cash box with lock.