Monthly Income and Expense Tracker

Simple monthly tracker for income, expenses and profit. Expense categories match Self-Assessment return boxes. Bridge between paper records and accounting software.

BeautyKiln Document Hub - Monthly Income and Expense Tracker - Free to use, no attribution required

[Business Name] - Monthly Income and Expense Tracker

Month: ______________________

Tax Year: ______ / ______ to ______ / ______

Income Log

Monthly Income Summary

• Total treatment income: £______
• Total tips: £______
• Total other income (vouchers redeemed, product sales): £______
• Total income this month: £______

Expense Log

Expense Categories (use these for consistency)

• Rent (chair/booth/room rent)
• Products (colour, skincare, nails, wax, lashes, retail stock)
• Equipment (tools, machines, furniture - capital items)
• Insurance (public liability, treatment risk, equipment)
• Phone and internet (business percentage)
• Software (booking system, accounting app)
• Travel and mileage (see separate mileage log)
• Training and CPD
• Professional memberships (ABT, BABTAC, NHBF, FHA)
• Marketing (website, social media ads, business cards)
• Laundry (towels, gowns, capes)
• Cleaning and hygiene (Barbicide, disinfectant, disposables)
• Stationery and printing
• Bank and card processing fees
• ICO registration
• Accountant fees
• Other

Monthly Expense Summary

• Total rent: £______
• Total products: £______
• Total equipment: £______
• Total insurance: £______
• Total travel: £______
• Total other expenses: £______
• Total expenses this month: £______

Monthly Profit Summary

• Total income: £______
• Total expenses: £______
• Net profit this month: £______
• Running profit (year to date): £______

Tax Set-Aside

• Recommended set-aside (25-30% of net profit): £______
• Transferred to tax savings account? Yes / No
• Running total in tax pot: £______

How to use this template

Getting started

• Print one sheet per month, or use it as a Google Sheets / Excel template.
• Record income and expenses on the day they happen. Five seconds per entry beats an hour of catch-up.
• Keep all receipts. Photograph them with your phone immediately. Paper fades.

Why this matters

• HMRC requires you to keep records of all business income and expenses.
• From April 2026, sole traders earning over £50,000 must keep digital records under Making Tax Digital (MTD). From April 2027, the threshold drops to £30,000.
• This tracker gives you the raw data your accountant needs, or that you can enter into accounting software (FreeAgent, Xero, QuickBooks) when you are ready.
• If HMRC ever asks for your records, handing them a completed tracker is much better than a carrier bag of receipts.

Tips

• Record ALL cash income, including tips. HMRC expects it and can check.
• Separate personal and business expenses. If a purchase is partly personal and partly business, only claim the business portion.
• The expense categories above match the boxes on your Self Assessment tax return (SA103), making filing much easier.
• Review your tracker weekly (10 minutes on a Sunday evening) to catch anything you have missed.
• At the end of each month, transfer 25-30% of your net profit into a separate savings account for tax. Do this before you spend it.