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Startup Guide: Get Expense Tracking Right
Early-stage companies benefit from simple, enforceable policies that reduce friction and keep the books clean. Centralize spending on company cards where possible, require a minimal receipt policy, and assign a point person to manage reimbursements and vendor onboarding.
Design processes so they are easy to follow: a single chart of accounts, a short expense policy, and automation for the most repetitive work. This reduces errors and gives founders confidence in their monthly burn and runway calculations.
Example: Require receipts for reimbursements and have the finance owner reconcile all card transactions weekly. This keeps surprises out of monthly close and makes it easy to forecast runway with confidence.
Action items:
- Create a one-page expense policy with examples and thresholds
- Start with one automation (e.g., monthly card reconciliation) and measure time saved
- Train team leads and assign reconciliation ownership
Simple policies executed consistently are more valuable than complex processes that nobody follows.
