Expense tracking has come to LiveTimer! This past Sunday, we finished our testing and finally released these often-requested features. Expense tracking is now available in all accounts for no additional charge.

If you're an administrator for your account, you can enable expense tracking by going to the Settings tab and then Features. Check the box labeled Expense tracking and you'll be ready to start.

Currently, there's only one option available for expense tracking, which is whether sales tax should be tracked (it is by default). If you don't have a need for sales tax data, and want to keep expense entry simple, you can change this setting from Settings / Expense tracking.

Expense categories and Payment methods are two new classifications related to expenses which can be configured via the Manage tab. Expense categories can be used to classify expenses such as meals and entertainment, mileage, utilities, etc. Payment methods specify different ways expenses can be paid for, such as company cash or personal credit. Several default expense categories and payment methods have been entered, which can of course be modified or removed.

Expenses can be entered via the new Expenses tab. Expenses are entered as part of a "receipt", which can represent an actual receipt or simply group expenses together by date, vendor and payment method. One or more expenses can be entered per receipt.

Expense reports have been added to the Reports tab. The configuration options and filters for expense reports are very similar to those for time reports, so they should look quite familiar.

Even though we're planning to add expense tracking to the iPhone interface and Mini mode soon, we didn't want to hold up this release any longer to complete this feature. We're also planning to add several new options for expense reports, such as filters for billable and reimbursable time.

We hope you find the new expense tracking features useful. Please let us know what you think!