10 Minute Tidy Office Tip 98: Tracking Flexible Spending Accounts

by shannon on April 21, 2014

Do you have any accounts like day care flex spending, medical flex spending, or health savings accounts that need tracking? Have you created a good system for tracking which expenses get used by each of these types of accounts? It can be confusing!

In an ideal world, I would create separate bank accounts for each of these so that I could easily go on-line and track the expenses for them. Now, that might not work if you don’t want to have separate accounts, or perhaps your employer or flexible spending account provider doesn’t set it up that way. But if there was a way to have a credit or debit card for this type of independent account, it would make tracking the expenses so much easier.

Another reason to track these accounts online is that it allows you to easily reference the rules governing flexible spending accounts. There are software programs that will also help you keep track of these accounts as well as your personal and business accounts. Or you can try mint.com, my personal favorite way to track all my financial accounts online for free!

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