How should I keep track of business expenses from my personal account?
We recommend that you keep your business and personal expenses and revenue separated whenever possible. However, we know that there may be times when you have business expenses paid from your personal account.
If bookkeeping is included on your Vyde membership, we can help categorize and keep track of business transactions (revenue or expenses) going through your personal account for you. Simply provide us with the information we need to record those transactions through one of the following ways:
- Highlighted Bank Statement: Upload a copy of your personal bank statement with the business-related transactions highlighted (you can usually digitally highlight PDF statements in Adobe Acrobat or similar programs). Your bank statement will tell us much of what we need to know about each transaction, including the date, vendor, and amount. Your personal transactions will not be added to your business books.
- Receipts: If you have the receipts for the transactions that occurred outside of a business bank account, you may also upload those each individually. We will enter each into your business books to capture the deduction!