Expense Tracking: Custody and Visitation
Tracking your expenses means keeping a log of what you spend on your child. This can help you and the other parent manage the financial aspects of your parenting plan.
It's up to you if you want to track all of your child-related purchases or just the ones to be reimbursed.
Custody X Change is software that allows parents to track expenses and print invoices for reimbursement.
To enter an expense, input details like the date, title and amount. You can specify what percent the other parent owes, upload documentation such as a scanned receipt, and more.
You can also enter payments made to you by other parent, as well as print a log of expenses that shows the other parent how much they owe.
To use your expense report outside the app, export it as a PDF or Word document. Then it will be easy to email or edit in detail.
Having a system to track expenses and print invoices helps you get reimbursed for expenses that both parents share. Emailing or giving the other parent an invoice every few months is an easy way to notify each other so that you can be paid back.
Tracking your expenses can reduce conflict between parents about finances. Showing the other parent a report of all the numbers makes it easier to discuss expenses and come to an agreement about how they should be shared or divided.
Keeping track of your expenses also allows you to see how much you're spending on various child-related categories. Seeing these numbers lets you know how much child support covers and how you and the other parent should share or divide other expenses.
Tracking your expenses can give you peace of mind because you know the financial aspects of your parenting plan are under control.