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.
Custody X Change is software that allows parents to track expenses and print invoices for reimbursement.
To track your expenses, you write the amount and description of the expense and assign it a category. You can then specify how much the other parent owes.
You can track all of your child-related purchases or you can just track the purchases to be reimbursed. You can add as many expense categories as you want.
You can print a log of expenses or an invoice that shows the other parent how much they owe. You can organize your expenses by date or by category.
You can also export your log or invoice to PDF, Word, or Excel. This makes it easy to email an invoice or make edits to your expense log.
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.