Expense Tracker for SaaS and E-Commerce Businesses

0
250
expense tracker

jyngles-logo

How can you manage your expenses with Jyngles?

Jyngles is the easiest way to manage your business expenses. It’s a simple, secure tool that will help you save time and money. Here’s how it works:

  1. Snap a photo of your receipts.
  2. Jyngles converts them into clean, organized expense reports.
  3. You approve, file, and pay your expenses in seconds. Making your business more efficient will save you money, time, and miles.

What You Need to Know about Expenses for Today’s Market

These days, you often hear businesses say they want to do a better job of budgeting their expenses. According to Rae Hoffman, Squarespace marketing manager, “It’s the most important factor in whether you live above or below your means.”

As an upper-middle-class American female (like many of those quoted in this article), I became inspired after reading a Marie Kondo repair book (I read 10 minutes a day for a month and did what she did), and I fell in love with the simplicity of her approach to budgeting. It’s a combination of buying the cheap, unwashed, 20-80% off-brand stuff and spending 1 hour per week planning each item in the house.

Today, my favorite method is using Jyngles.

How Jyngles Can Benefit Your Business

My side hustle (and a way to put my life back together) was to do invoicing at several print shops a few days a week from various clients and small businesses (large industrial, mom & pop shops … you get the idea).  This allowed me to be very selective and not spend money in places I wasn’t going to get business. Now that I’m in sales and I’m willing to take any client, my side hustle is no longer necessary. Instead, I have a little more time to do whatever I’m drawn to. For example, if I’m drawn to working with plastic surgeons, I’ll probably start freelance working there.

As part of my side hustle, I now manage our office expense account on our Jyngles application.

Why does it matter to track your business expenses?

Visa fraud cost Jyngles $6,000 in fraudulent charges by a credit bureau, yet they discovered $120,000 in fraudulently withdrawn funds from their funds.

It’s our job as digital marketers to help marketers gauge risk, so we needed a mechanism that would enable us to make fast and accurate decisions about whether to accept a charge, deny a charge, or audit a reporting person’s process. This is exactly what Jyngles is here to do.

What Are Expenses?

While Jyngles is a cloud-based platform for incremental charges, the name really doesn’t mean much without some explanation. An expense is any charge, including paper, without regard to whether the company has a current paid-in-full invoice and whether it falls within the definition of “payment.”

When your company receives a charge from a vendor, you’ll have access to a dashboard where you can quickly and easily see if additional information, such as time-stamp, is available for a particular expense item. You’ll even have the ability to review the individual expense item reports to make sure nothing weird has happened. Beyond just reviewing expense history, you’ll have the ability to spot trends within the field of your choosing. One great example could be from a digital marketing campaign. Jyngles can analyze competitors spend on keyword optimization, and possibly detect spots where your company might deserve a bump for a particular tactic.

What’s next?

Jyngles is currently only available for U.S.-based businesses, but you can just go into the site and search for “creative finance” to see if you’re eligible. If that’s the case, Jyngles plans to expand to other nations in the near future.

How can you save time managing your expenses with Jyngles?

If you use Jyngles, you can save time managing your expenses by creating expense categories and adding your credit cards to your account. When you’re out on a trip, you can take photos of your receipts and have them uploaded to your account.If you’re hiring (potential) employees, you automatically have all relevant expense receipts, as well as availability reports showing your available staff. It’s intuitive, and straight-forward.

How do you use Jyngles to track business expenses?

Jyngles – Budget Planner is a great tool to keep track of business expenses. It’s free and you can use it to track international expenses as well. I like to categorise my expenses and then export that data to a spreadsheet so I can track them in more detail.I’ve also found that by copying and pasting expenses into Jyngles, it gives me a summary view without having to open the page. Whatever method of tracking expenses you decide to use, there are two things you need to do: Log in and Update Your History Check your log in date every month and spam the notification button (on top of checking to make sure you didn’t accidentally log into your Google Analytics account). You can even create a ‘blind’ log in so you only see the entries for the date you were most active. Log out and Update Your History Check your log out date occasionally and spam the notification button (on top of checking to make sure you didn’t accidentally log out of Google Analytics). You can also create a ‘blind’ log out so you only see the entries for the date you were most active. Ok so far so good. I have a poster of this design I use every day at work, so I carry around a handy print out that I can email to myself so I remember each section and can paste into Jyngles if I want to see an overview of the data over time. Why bother with Jyngles? So far I haven’t necessarily seen a lot of value from this tool for my business. I don’t really use it for spreading the wealth around or finding motivated sellers. But hopefully within the coming weeks I will get more specific and I will write up a case study on how Jyngles can assist in making your online business more profitable. Other tip – don’t forget to make a backup of your Jyngles account – then when data starts to look really funky.