Expense tracking for small businesses is a way to monitor and control spending. It is a tool used to understand where money is going, how it’s being allocated, when it’s due, and how much of the budget each item accounts for. By collecting and organizing financial information into an easy-to-understand format, businesses are able to keep track of their expenses in real-time while staying on top of budgeting decisions. Through expense tracking, businesses can also identify areas in which they can bring costs down and increase profits.