Tracking expenditures
Dec 15, 2012 | 8:15 pm
#16
Join Date: Sep 2012
Posts: 100
Originally Posted by fandu:19863742
On a similar note, how do you guys in consulting manage this where you can use your own CC for expenses? Any ideas would be helpful
Or, I use separate cards.
Dec 16, 2012 | 9:08 am
#17
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Whilst I haven't done it yet, I think for 2013 I am going to Excel business expenses as they happen on a per meeting basis - using whatever cards are most appropriate and popping in the details such as:
Travel Cost
M&IE
Person Met/Reason for meeting
Credit cards used
Etc
Have one 'form' per meeting then a totals column that links to annual totals - for self employed filing at year end.
I used to use just Biz cards for this but now I think its better to use the best card per bonus so this is better (plus I keep some cards that are doubles such as SPG Biz pure biz so easy to find those transactions).
Travel Cost
M&IE
Person Met/Reason for meeting
Credit cards used
Etc
Have one 'form' per meeting then a totals column that links to annual totals - for self employed filing at year end.
I used to use just Biz cards for this but now I think its better to use the best card per bonus so this is better (plus I keep some cards that are doubles such as SPG Biz pure biz so easy to find those transactions).
Dec 16, 2012 | 12:28 pm
#18
Join Date: Sep 2005
Location: SEA
Programs: DL, SPG, UA.
Posts: 232
I keep a note in my phone, and when i make an expense i note the amount, date, card, what it was for. I use that note as a guide to make sure that i get everything that didnt go on the corp card into my expense report.
It's pretty basic but seems to work. Would love to find an app that would help me track the status of each transaction (as there may be a delay before i have an accounting code for some transactions so not all incurred expenses will be submitted at the same time)
I've found it hard to keep track of unless i write down each transaction at the time since I'll use the same card for business/personal use and the same vendors for both as well (e.g. uber).
It's pretty basic but seems to work. Would love to find an app that would help me track the status of each transaction (as there may be a delay before i have an accounting code for some transactions so not all incurred expenses will be submitted at the same time)
I've found it hard to keep track of unless i write down each transaction at the time since I'll use the same card for business/personal use and the same vendors for both as well (e.g. uber).
Dec 16, 2012 | 12:58 pm
#19
FlyerTalk Evangelist
Join Date: Feb 2005
Location: PHX & AGP
Programs: AA PP, DL PLT, Bonvoy LT Titanium, HH LT Diamond, National Executive Elite
Posts: 13,363
I'm new the world of CC bouns and points, however, in 2013, I plan on using one CC a month for allof my business travels expensse, so if I use Card A, everything will ONLY be for work, this way I'll be able to meet all of the min spends and have more, I may not be "maximizing" my points this way but it is a simple way of keeping track of the spends. I'll be averaging 10K a month on cards for work only, this will include, travel, cars, hotels, food and whatever else I needed. Now granted, in Feb, I'll be using the BA card and will be using it for two months to get the total spend on it.
Dec 16, 2012 | 1:04 pm
#20
Join Date: Jul 2007
Programs: Marriott Platinum
Posts: 275
I use Mint extensively to track and monitor expenses. With Mint, it has the ability to learn from past categorization too. There are a few other sites that work well, but I haven't used them personally - Pageonce is another one that comes to mind. Of course, Yodlee is the pioneer in this space. They still power most bank's money management systems.
Dec 16, 2012 | 1:25 pm
#21
Join Date: Jul 2011
Posts: 1,657
Do people find mint.com to have accurate/useful categorizations? I used to use mint about 3-4 years ago but the categories were so consistently wrong that it was taking me forever to recategorize everything. That was back in the days of one credit card (quelle horreur!) so I would just look at the statement each month. I still manually look at statements but would love to use mint.com if they've improved their algorithms...
Dec 16, 2012 | 1:37 pm
#22
Join Date: Jul 2007
Programs: Marriott Platinum
Posts: 275
Do people find mint.com to have accurate/useful categorizations? I used to use mint about 3-4 years ago but the categories were so consistently wrong that it was taking me forever to recategorize everything. That was back in the days of one credit card (quelle horreur!) so I would just look at the statement each month. I still manually look at statements but would love to use mint.com if they've improved their algorithms...
Dec 16, 2012 | 4:07 pm
#24
Join Date: Nov 2012
Posts: 17
I use Excel and Mint.com. Once or twice a week I download transactions from my online accounts (Chase and AMEX) to the excel sheet. I type in my checking account balance then subtract my credit card balance and any bills I need to pay. If I have any reimbursable expenses for work I separate these out. This way I can make sure I'm not spending more than I have and can pay off the cards in full every month 
In the excel sheet I also track the date I applied for cards, the bonus categories, and annual fee amount.
I use Mint.com to see how much I'm spending in each category and try to stay on budget.
In the excel sheet I also track the date I applied for cards, the bonus categories, and annual fee amount.I use Mint.com to see how much I'm spending in each category and try to stay on budget.
Dec 16, 2012 | 5:12 pm
#25
Join Date: Apr 2012
Posts: 1,183
I use MoneyWell, which is a Mac desktop application that does budgeting, automatic transaction downloads, and so forth (similar to Quicken, Mint, etc.).
The biggest pain is tracking spending on gift cards and prepaid cards, since those don't easily integrate with such tools. I've got various workarounds that are sort of okay, but not terribly convenient.
The biggest pain is tracking spending on gift cards and prepaid cards, since those don't easily integrate with such tools. I've got various workarounds that are sort of okay, but not terribly convenient.