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what is the best way for business owners to keep track of the companyamp;#39;s expenses for tax purposes as you start having receipts and invoices and credit card transactions business owners often ask whatamp;#39;s the best way to track this it depends on whether youamp;#39;re trying to be paperless or you keep track of everything in paper do you have so many transactions that you need software to manage it or as a simple spreadsheet like Excel an option for you many business owners or entrepreneurs start out by keeping it really simple maybe itamp;#39;s on paper maybe they have a checking account just for the business at their local bank thatamp;#39;s a very simple way to have a bank keep track of all of your expenses