Managing Your Business Expenses

If you own a business you need to manage your expenses effectively. Capturing those expenses and keeping track of where you are spending is an important aspect of understanding financial health. AthleteOne allows you to manually enter and automatically download expenses as well as assign them to a vendor and categorize them for meaningful reports and visualization. You may also attach a receipt to an expense.

Benefits

  • Understand your profit margin to allow for growth
  • Find how much you spend in certain categories
  • Export data to Excel to gain further insight 
  • Compare expenses to income 
  • Attach receipts to individual expenses for safe and secure archiving
  • Reduce time for tax reporting
  • Provide Reports to your accountant

Manually Entering Expenses

You can manually enter expenses by navigating to New on the top menu bar and clicking Expense. Enter the following data in the New Espense form.
  • Date - Transaction date of expense
  • Amount - Transaction Amount
  • Vendor - Select or enter a new Vendor or company for the expense
  • Category - Select or enter a new Category for the expense
  • Description - A note about the expense
  • Receipt - Click "Choose File" button to upload  a file (pdf, or image) of the receipt 

Automatically Downloading Expenses

You can link AthleteOne to one or more of your Bank Accounts to download expense transactions automatically. Downloading bank transactions can significantly reduce the time you spend managing your expenses. However, you will want to review the downloaded transactions periodically to verify the data and set the vendor, category and upload receipts.

To connect your Bank Accounts and automatically download expenses:
  • Navigate to the gear icon in the top right corner and select My Account.
  • On your My Account page, click the Integrations tab then click Bank Accounts.  
  • Click on Link your Bank Account in the help message. This will open a new dialog box to find your bank.
  • Select your bank. After authenticating with your bank a new dialog will appear with all your accounts.
  • Select the account(s) you would like to link to AthleteOne.  
  • The linked account details will now appear on the Bank Accounts page in AthleteOne.
  • The initial download of your bank transactions may take up to 10 min. The account details will show the Last Updated date and time the download occurred. 
 Additional information:  
  • Your Bank Account information is safe and secure. AthleteOne and it's vendor do not save or record your bank account username or password.  
  • We attempt to avoid duplicate transactions; entering one manually may not match what is downloaded.  
  • Only transactions with positive amounts are downloaded.
  • Transactions are not downloaded retroactively. Transactions from the initial link date or beyond are downloaded.
  • Only U.S. Bank Accounts are supported.

Expense Filters


You can filter the display of Expenses on the Expenses Page.
  • Navigate to Finances on the top menu bar and click Expenses.
  • The available expense filters display on the left side of the Expenses page.
  • Apply one or more filter to change the display of Expenses.
  • You can filter Expenses by Year, Vendor, Category and Account.

Reports


AthleteOne has many reports you can use to help manage your expenses. View the reports by clicking on Reports on the top menu bar, and then the Expense Reports tab.

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