Expense tracking
Expense tracking
for small businesses.
Track business expenses — including costs an owner paid personally — without losing sight of profit.
RecordSplit records each expense once, with its category, date, receipt and who paid, then shows monthly spending, category totals and what's left as profit. It's built for businesses owned by two or more people.
The problem
Shared spreadsheets
lose track of
who paid.
Most small businesses start tracking expenses in a spreadsheet. With more than one owner, three things go wrong.
- Costs paid on personal cards
- An owner pays a supplier on their own card. A shared spreadsheet usually records the cost, but not that the business now owes that owner for it.
- Categories drift
- When several people keep the sheet, “Software”, “Subscriptions” and “Tools” all end up meaning the same thing, and category totals stop being useful.
- Profit is a guess
- Expenses live in one file, revenue in another and salaries somewhere else, so nobody is sure what the business actually made this month.
What you get
Business expenses,
tracked the way
owners need them.
- Every expense, recorded once
- Title, amount, date, category and notes, with a receipt attached if you have one. Every owner sees the same record instead of their own copy.
- Business-paid and owner-paid, kept apart
- Paid from is either Business funds — with the business account it came out of — or the owner who paid personally. Both are business expenses; only owner-paid ones create a balance between owners. Read what happens when an owner pays a business expense personally.
- Spending by category and month
- Filter expenses by month, year, category and who paid. Seven built-in categories plus your own custom ones keep the totals consistent.
- Profit that includes every cost
- Profit is revenue minus all recorded expenses, salaries included — calculated from the records, never typed in.
- History by owner
- See everything a given owner paid personally, and the Expense Funding report's split between owner-paid and business-paid spending.
How it works
Three steps
per expense.
Record the expense
Add the title, amount, date and category, and attach the receipt. Salary payments and advances create their expense automatically.
Mark who paid
Business funds (and which account), or the owner who paid personally. That one choice keeps profit and owner balances right.
Read the month
Reports show the month's spending by category, the largest expenses and how they were funded. Export the month to Excel or PDF.
Worked example
An advertising bill
paid personally.
Maya pays a $1,200 advertising bill personally while the business pays another $800 for software. RecordSplit records $2,000 of business expenses. Assume Maya and Daniel share owner-paid expenses 50/50 and there's no other activity.
- Business expenses in March
- $2,000.00
- Paid from business funds
- $800.00
- Paid personally by Maya
- $1,200.00
- Maya’s 50% of owner-paid expenses
- $600.00
- Daniel’s 50% of owner-paid expenses
- $600.00
- Toward a suggested settlement from Daniel to Maya
- $600.00
Under those assumptions, Maya's personal payment would contribute $600 toward a suggested settlement from Daniel to Maya. Profit falls by the full $2,000, whoever paid. Real balances also include revenue an owner received personally and any recorded settlements, under your own partnership rule. Example figures, not customer data.
Monthly spending
See where the
money went.
Reports open one month at a time: spending by category shows where it went, and expense funding shows how much each owner paid personally against what business funds covered. The year overview shows every month so far.
Profit impact
Every expense shows
up in profit.
Revenue minus expenses, by month and for the period you pick, with each owner's share under your partnership rules.
What it doesn't do
Expense tracking,
not bookkeeping.
- No bank or card import
- RecordSplit doesn't connect to banks or cards. You record each expense yourself.
- No receipt scanning
- Receipt uploads are supported; automatic receipt scanning or data extraction is not available today.
- Not bookkeeping
- There's no double-entry ledger, formal accounting statement or tax filing. Your accountant can work from the exports.
Expense tracking questions
What counts as an owner-paid business expense?
A cost of the business that an owner paid with their own money — a personal card, a personal bank account or cash. In RecordSplit you record it like any other expense and set Paid from to that owner. It still counts as a business expense, and RecordSplit also keeps track of who funded it.
Do expenses paid personally by an owner reduce profit?
Yes. Every business expense reduces profit, whoever paid it. Who paid only matters for each owner's Partner Balance: paying more than your share of owner-paid expenses moves your balance in your favor, alongside everything else recorded.
Which expense categories can I use?
Seven built-in categories — Rent, Internet, Salary, Software, Equipment, Utilities and Miscellaneous — plus any custom categories you add for your business. Expenses and reports filter by category.
Can I attach receipts to expenses?
Yes. Attach a PNG, JPG, WEBP or PDF receipt of up to 5 MB to the expense it belongs to.
Does RecordSplit import expenses from my bank or card?
No. RecordSplit doesn't connect to banks or cards. You record each expense yourself — receipt uploads are supported, but automatic receipt scanning or data extraction is not available today. Salary payments and advances create their expense automatically.
How do I see spending by month and category?
Filter the Expenses list by month, year, category and who paid, or open Reports for a month: spending by category with each category's share and change, and expense funding (owner-paid versus business-paid). Reports export to Excel or PDF.
How many expenses can I record?
Free includes 50 expenses a month, Business 300, and Business Plus is unlimited. Every plan includes every feature.
Is RecordSplit bookkeeping or accounting software?
No. RecordSplit tracks expenses, revenue, profit, invoices and owner balances for the people running the business. It doesn't do double-entry bookkeeping, produce formal accounting statements or file taxes — your accountant can work from its Excel and PDF exports.
Works with
- Dashboard & reportsMonthly, category and expense-funding reports.
- Partner financeHow owner-paid expenses become each owner's balance.
- Business partnershipsRunning a business with two or more owners.
- Free expense tracker spreadsheetAn Excel template for tracking who paid each business expense.
- PricingFree for 50 expenses a month; paid plans raise the limit.
Every expense.
Every owner.
One clear profit.
Start free
Free for your first organization. No credit card required.