Freshbooks recurring expenses

Last month I talked about Freshbooks and utilizing their recurring invoices section, it’s a huge time saver.

On a similar vein I also recommend using their recurring expenses.

In my VA group we were talking about small business taxes and although we all use Freshbooks for our accounting, I was the only one using the recurring expenses.

The way they work is you can set up recurring expenses with a variety of variables: how often, how much, etc., and that way if you have regular bills you want to keep track of but don’t want to have to think about, they’ll get put in there automatically. Excellent!

It works best for things like your phone bill, internet bill, or electricity bill, anything that happens over and over again on a regular basis. For example, I use recurring expenses for all three of those and the first two are always the same date each month and the same amount (which makes it super easy). The last one is a little different, it’s every two months and the amount does change, so whenever I think about it I just go back and adjust the amount. The next time that expense gets applied it will use the last used amount, and I just have to update it again when I have the chance. It’s very easy to workaround and it’s worth it to have the bill put in there automatically, even if the amount isn’t right. Heck, I could wait until the end of the year and then update the amounts all at once, at least the bill’s mere presence in my expenses report would ensure that this expense was not forgotten.

So yet again, I highly recommend using Freshbooks, and particularly the recurring expenses feature.