Expenses can look very different on paper than when you actually spent them. From buying a coffee to buying inventory or paying your employees expense comes at you on a daily, monthly, yearly basis. Sometimes it can also catch you off guard through unexpected situations where you will need an immediate cash flow. Hence it is important to categorize and record each expense that is related to your business. This will ensure you have all your expenses that can be written-off or credited during the year-end tax filing. Always manage to use your credit cards and this will help you track your expenses without risking losing the receipts.