Log business expenses by Schedule C category, flag missing receipts, and see totals by month and category, plus budget vs actual for any month.
Updated Sep 26, 2026 · Estimates for planning only. Not financial, tax or legal advice.
Saved in this browser only, nothing is uploaded. The Excel file keeps live formulas; the CSV opens anywhere, including Google Sheets.
Total spending
$6,540.64
Deductible (excl. draws/personal)
$6,540.64
Over $75 without a receipt
0
Date
Vendor
Category
Payment
Amount
Receipt
Notes / business purpose
By month
Jul 2026 (6)
$1,832.15
Aug 2026 (5)
$2,687.99
Sep 2026 (5)
$2,020.50
All entries (16)
$6,540.64
By Schedule C category
Rent: business propertyline 20b
$4,050.00
Contract laborline 11
$720.00
Advertisingline 8
$500.00
Travelline 24a
$412.00
Legal and professional servicesline 17
$300.00
Utilities, phone and internetline 25
$109.99
Insurance (not health)line 15
$96.00
Bank and payment processing feesline 27a
$87.30
Office expenseline 18
$71.15
Suppliesline 22
$58.20
+3 more categories in the Excel summary sheet.
Monthly budget vs. actual
Set a monthly budget per category. A negative variance means you went over.
Category
Monthly budget
Actual
Variance
Used
Rent: business property
$1,350.00
$0.00
100%
Advertising
$225.00
$75.00
75%
Legal and professional services
$300.00
−$50.00
120%
Bank and payment processing fees
$87.30
$12.70
87%
Office expense
$0.00
$75.00
0%
Software and subscriptions
$0.00
$60.00
0%
Supplies
$58.20
$41.80
58%
Travel
$0.00
$400.00
0%
Meals (50% deductible)
$0.00
$100.00
0%
Utilities, phone and internet
$0.00
$125.00
0%
Category totals line up with Schedule C at tax time. To estimate what you will owe, try the self-employment tax calculator.
How to use this expense tracker
Add a row for each expense with date, vendor, category, payment method and amount.
Tick Receipt once you've saved it, and write the business purpose in the notes.
Review the monthly and category totals, and set budgets to spot overspending.
Download Excel. The summary and budget sheets use SUMIF formulas, so they keep working as you add rows.
Why track expenses closely
Every deductible dollar you miss costs you your income tax rate plus 15.3% self-employment tax. At a 22% bracket, a forgotten $1,000 of expenses costs about $370. Tracking also shows where the money goes, which your bank statement alone won't.
Schedule C categories
The categories match the expense lines on IRS Schedule C, so at tax time the totals copy straight across. Use Other (line 27a) for software, bank fees and training, and keep owner draws and personal spending in their own categories so they're excluded from deductions.
Receipts and records
Photograph paper receipts the day you get them. Thermal paper fades.
Write who and why on meal receipts: the person and the topic discussed.
Keep a separate mileage log. A fuel receipt alone doesn't prove business use.
Keep records for at least three years after filing.
Keep business and personal money separate
A dedicated business account and card make tracking far easier and protect an LLC's liability shield. If you pay for something personally, log it as “Personal card (to reimburse)” and pay yourself back from the business.
The IRS test is ordinary and necessary: common in your line of business and helpful to it. Personal expenses, owner draws, most fines and political contributions are not deductible.
Do I need a receipt for every expense?
You need records that show the amount, date, place and business purpose. For travel, gifts and vehicle use the rules are stricter. Keep receipts for lodging, and for any other expense of $75 or more.
Are meals deductible in 2026?
Business meals with a client, prospect or employee, where business is discussed, are generally 50% deductible. Entertainment such as event tickets is not deductible.
What's the 2026 mileage rate?
Check the IRS standard mileage rate for 2026 when you file. You can use either the standard rate or actual vehicle costs, and either way you need a mileage log with dates, destinations and purpose.