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There is also the accrual method which counts sales when you make them even if they haven’t gotten paid yet and expenses when you receive a purchase or a service even if these haven’t gotten paid yet. The practice of most small businesses when tracking expenses is by using the cash accounting method where you record income when you receive it and expenses when making payments.
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Use this template to record the payment method, date, expense description, vendor, and amounts. Making your own report template doesn’t have to be a challenge as long as you know what type of template you need: You need a system for your business to keep track of how much you’re spending – and you will benefit a lot from using a business expense spreadsheet. Business expense spreadsheet 10 (37.50 KB) Types of spreadsheets for business expenses