What is Taxpense?
Taxpense simplifies income, expense and tax tracking for both business and personal use. Taxpense helps track tax deductions by automatically calculating GST /VAT / TAX, keeping receipts organised for income and expenses, and keeping track of mileage.
Why is it Unique?
Taxpense allows you to create multiple accounts & support multiple currencies. In addition to incomes, Expense & Mileage tracking, Tax is automatically calculated based on the rate specified and can be easily tracked from most of the app screens.
All transactions are displayed with included tax amount. When creating transactions, users also have the option to enter manual tax amount for the entry.
Expense entries can be created and assigned to Payees or tagged with payments methods for easier tracking and reporting.
Users have the option to customise the following for each account:
- Tax abbreviation
o Make it GST or VAT or HSC or whatever you wish to track
- Tax Rate
o Specify tax rate for example in Australia it is GST with 10%
o Select currency for each account. Useful if you have multiple business in multiple countries. Create each account with different currency
- Tax Year Start
o Select tax year start for each account. Tax quarters and other filters on Dashboards, reports will be automatically calculated based on tax year start date
- TAX ON/OFF
o Making it OFF will make this app as a normal income/expense tracker
Provides quick overview of income/expense and tax for the selected account and period. Date is presented in pie charts and bar charts for a good visual view.
Number of reports are presented in graphical and table form, making it easier to get insights into the finances.
- PDF / CSV reports (premium feature) - generate, export and send different reports
- Category - track where you have earned or spent - beautiful pie chat and table form
- Payment method - how did you pay for the expenses, check how much you spent from your personal account or business account - beautiful pie chat and table form
- Cash flow report - track your income, expenses and tax for tax year or tax quarter - beautiful bar chat and table form
- Mileage report - track how much you have travelled during this tax year / quarter and claim for it - beautiful bar chat and table form
PDF & Excel Export:
All transactions can be easily exported to PDF & excel, which can be really handy during tax time.
Who will benefit:
Self-employed, freelancers, independent contractors, small business owners, property owners and landlords. There is no need to maintain excel sheets and calculate tax. Simply enter the details in the app and track your quarterly or yearly payable tax (gst/vat etc.), export to a pdf / excel and share with yourself or your accountant.
Last updated 4 Apr 2017