Whether for business travel or family vacation road trip, it’s important to keep track of expenses. Choose the system that works best for you and stick with it to stay organized and keep a good record of your travel expenses.
Choose the Right Expense Tracking System
Many employers require use of a certain expense tracking software or other program; if they don’t, or you’re traveling on vacation, select one for yourself. Whether it’s a smartphone app or good old pen and paper, choose one place to track all expenses – then keep up with them.
The TripIt Travel Organizer app allows travelers to forward their confirmation emails from more than 3,000 sites to a single e-mail address and build their own trip itineraries—as well as save their receipts.
Start Tracking from the Beginning
Keep with it from the start and expense tracking will be easy. As soon as you make your first purchase – such as hotel reservations or airplane ticket – enter it into your expense report.
Hold onto Your Receipt
Keep all vacation or business travel receipts in one place, such as a certain section of your wallet or purse, or in an envelope.
Keep with It
Keep up with expenses as you incur them. This is especially important for cash transactions where a receipt isn’t offered, such as for cab fare or tips. Enter each one as it happens, or spend a few minutes at the end of the day logging expenses.