Excel Template For Tracking Your Annual Business Expenses

minute read

Save yourself from a world of tax return pain by tracking your expenses throughout the year.

Do you live in fear of your accountant asking for all your receipts? Is there a draw at home stuffed with papers you're destined to sort through?

When running your fitness business you will inevitably need make some purchases. From buying new equipment, to going on a training course, these costs are all deductible from your income before paying tax. But keeping records of these things during the year can get overlooked. To help, we've created a simple expenses spreadsheet designed to help you track your spending in one convenient place.

Why use it?

As you get busier you'll benefit from having a reliable place to quickly and easily note down your costs. If you don't keep a record throughout the year you'll be setting yourself up for a painful time when preparing your tax return.

What data does our template help you store?

Our expenses tracker is designed to let you record up to 20 expenses each month over the course of a calendar year:

  • Record the date, description, payment method, and value of each eligible purchase you make
  • Input your income for each month to have your monthly and annual NET profit calculated for you

Limitations of using a template

Using a template is great if your business activity is reasonably low. It relies on you manually inputting each figure and keeping the template file safely stored. When work becomes busier you will probably want to switch to a more robust solution such as an accountancy tool or dedicated fitness business platform such as Striive.

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Track all your business expenses within Striive

The Striive platform is designed to streamline the backend of your business so you can focus on client growth and scaling. It’s simple to use and does all of your client management, admin, and financial tasks including tracking all your business expenses. When you add your expenses to Striive they are automatically deducted from all your automated sales invoices so there is literally nothing left for you to do come tax return day!

Our software is designed to help you grow and run your fitness and wellbeing business, and we regularly release updates to offer more as the fitness industry changes.

Take a look at Striive today and start your free trial with 14-day access to all our features plus set-up support so you hit the ground running.

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