How does everyone mark their expenses?

Hello

I am intrigued as to how everyone else marks their expenses for work that they claim back. I have been marking them as excluded so far so that they don’t skew my spending analysis but not sure if that is the best way to do it. Quite often I spend over what is paid back by my company, so the amounts won’t always match up.

Any advice on best practice or how you guys handle it would be much appreciated!

Thanks, Isabella.

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Hi Issabella = I hope you had a lovely week and welcome to this forum. I think over the next few months you will see lots of changes with Emma!! I have the same issue = I work in a large Supermarket.
What I did was created a new tag called ‘work’ and uploaded the receipt for the purchase. That way I can group them all together at the end of the month for presenting to the boss.
As it is = I found an old filofax and also use that for notes etc. to compliment my expenses claim
Hans

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Hey Isabella,

Welcome to the Emma Community!

I use Emma Pro to create my own custom categories for example beauty, clothing and fitness so I can keep track of everything individually. You could use this to create a ‘work expenses’ category so you can at least put everything in one place.

Emma has also just launched a new feature today which also splits a transaction, so say you spend £13 on food but your work only covers £10 you can split this transaction and put one under ‘work expenses’ and the other under ‘food’. This should equal everything out!

Hope this helps

:blush:

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I’ve ended up using the ‘business’ category for this. When I get my expenses paid, I change the category to also be ‘business’. Like you say, it doesn’t net off exactly as the ‘months’ don’t line up, but it is close enough, I find.

(I tried a custom category but then realised I wasn’t using the business one for anything else so swapped it back!)

HTH

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Hi Isabella! Welcome to the forum. Do you mean biz expenses? :slight_smile:

Sorry I know this is an old topic but I got a new corporate card. Included the account too, now wondering how to keep them separate.

The credit card I am still liable so want to track but it is business expenses. Company then pays my account and I need to pay off.

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Do you put expenses in a different category?

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I exclude all the expenses on my business card and also exclude the reimbursement. Sometimes I split transactions where an expense or reimbursement has split liability or benefit and exclude/include the relevant component as appropriate.

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What if you were to move all business expenses and reimbursements to the ‘Business’ category? The only thing you can’t do unfortunately is exclude categories from the total budget.

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I couldn’t find the business category. Marking the credit card transactions as business and reimbursement also as business will be right.

Imagine we could mark the card itself as business card and only mark them personal if it is would be amazing.

A feature for the future :yum:

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Hi there, all business expences are paid as we go here - so its easy. Better still is that they are paid in cash. So, its easy to account for them. Just hand the receipts in and get the cash back.
Hans

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How do people mark their expenses if they pay for something for a friend and later get the money back from them?

thats a good question!

I get vat reimbursements from mastercard when visiting a certain country (2 days after paying). Can be a bit awkward to manage. I label them as income but could do with another category - tax refund or something.

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In my option the best way to do it would be to split out the transaction if it’s for a meal or exclude ut if it’s a separate transaction and then exclude the reimbursement. You could of course choose not to exclude then and the total budget would balance out, but not categories.

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Starling Bank makes getting repayments from friends easy to do within the app. Also, its easy to take a photo and link it to the payment.
Hans

These days wheter it’s PayPal, Monzo, Starling or Revolut it’s quite easy to pay someone back, I’m just curious how people handles it in their budget and analytics.

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I liked the idea of creating categories and then when you pay for something for your friend and they pay you back it balances it out

I know this is an old one, but I really want to see an ability to have an excluded category to manage this. If I could exclude all my work expense and income it should net out to zero. That way, it doesn’t impact the rest of the analytics. Right now, Emma thinks I earn thousands more than I actually do because of my expenses. I use the business category today. Having to manually exclude each transaction really doesn’t work for me, as I’m averaging 20 transactions a week (just too much time). It would be much easier with an excluded category then Emma could learn to drop normal expenses into it.

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I do the same.

I think something like how Monzo do it would be useful, in terms of marking stuff for categories.
E.g., when you mark something in Monzo, say a food expense as Business, then the next time you go to that same place, it will be marked as Business (useful for repeat expenses)

However, I’ve noticed that in Emma, even when you mark something as another category to what it defaults to, the next transaction at that place will just go back to default, and not set it as what you put (unless I’m doing something wrong)

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