Keep Track Of Your Income & Expenses With ‘MyBizTracker’

MyBizTracker is an iPhone app where you can easily keep track of your income and expenses for your UK based business. What’s more is that this app is free!

Some tax record keeping apps are overly complicated. So where can you find an efficient app for tax record keeping that is easy to use and to navigate around? . . . MyBizTracker is the answer.

When I first started up this app I was pleasantly surprised to see a clear, well planned user interface with the screen divided into three sections: ‘Balance’, ‘Income’ and ‘Expenditure’. You need only tap the ‘+’ button to add an income record or expenses record. You can name an income/expenditure record, specify the payment type, give it a reference number and additionally add any notes or a further description. You can even take a snapshot of the receipt, bill or invoice with your iPhone and add it to that specific record. Then, the balance is worked out for you and displayed automatically.

I was impressed by the information button results, as there is handy information on such areas as ‘How much income tax will I pay?’, What records do I need to keep?’ and ‘What expenses are deductible?’. There are even reminders on when self assessments are due, so that you are not late on handing your tax returns in past the cut off date.

Let’s face it, who actually likes working out their tax? I certainly haven’t come across one person in my lifetime who actually enjoys the process, let alone paying tax. Therefore, it makes sense to find the simplest and quickest way to complete your self assessment tax returns. I believe that MyBizTracker is the answer.

Using MyBizTracker also enables you to know when taxable turnover is coming close to the VAT registration threshold. and is also compatible with other Intuit products, as well as the balance showing whether you are comfortably in the black or dipping into the red.

Do you have a box or folders full of receipts and scraps of paper ready for a tax return filling in nightmare? Get rid of the box or clunky folders as now there will be no need for them.

Just think, if you have lunch, buy something for the office or even coffee and biscuits, you can just take out your iPhone, take a quick snapshot of the receipt, enter a few details and that’s it. No more wads of paper to wade through when it comes to sending your self assessment off electronically.

MyBizTracker is developed by Intuit who also focuses on accounting software. In conclusion, MyBizTracker is a very convenient free tool that can take care of the headache of tax return filling in with ease, leaving you to concentrate fully on running your business instead of getting snagged up in red tape. Easy to use, effective, helpful and an absolute bargain as it’s completely free!