Conquer The Subscription Beast

As a business owner, keeping track of subscriptions—from software tools to recurring services—can quickly become overwhelming. Mismanaged subscriptions often lead to surprise charges, missed cancellations, or even duplicate payments. Fortunately, with the right approach, you can effectively organize subscriptions in your accounting software and gain better control over your expenses. Here’s how to do it.

1. Set Up a Dedicated Expense Category for Subscriptions

Most accounting software allows you to customize your chart of accounts. The Remote Controllers can help you set up or optimize this process, ensuring seamless subscription tracking and better financial clarity. Create a dedicated category labeled “Subscriptions” or “Recurring Expenses” to separate these costs from other operating expenses. This simple step makes it easier to track how much you’re spending on subscriptions at a glance.

Why it’s helpful:

• You can easily identify subscription-related expenses.

• It simplifies budgeting and cost analysis.

2. List All Active Subscriptions

Start by creating an inventory of all your subscriptions. Include details such as:

• Service name

• Subscription cost

• Billing frequency (monthly, annually, etc.)

• Payment method

• Renewal dates

Tools like spreadsheets or subscription management apps can help, but integrating this information into your accounting software ensures it’s all in one place.

3. Automate Payments and Record Keeping

Link your subscription payments to a specific business credit card or bank account. Automating these payments reduces the risk of late fees and ensures consistency. Use your accounting software’s bank feed feature to automatically record transactions, tagging them under the “Subscriptions” category.

Pro tip:

Set up rules in your accounting software to automatically categorize recurring transactions as subscriptions. This saves time and ensures accuracy.

4. Track and Review Subscription Costs Regularly

Subscriptions can be sneaky. Prices increase, unused services linger, and new tools quietly pile on costs. Schedule a monthly or quarterly review of your subscription expenses. Alternatively, outsource this process to professionals like The Remote Controllers, who can bring efficiency and valuable insights to your subscription management. Compare your list of active subscriptions with recorded transactions in your accounting software to:

• Identify unnecessary or redundant subscriptions

• Spot price changes

• Cancel subscriptions you no longer need

5. Use Tags or Classes for Better Insights

For businesses with multiple departments or projects, consider using tags or classes in your accounting software to allocate subscription costs. For example:

• Marketing tools (e.g., email platforms)

• Operational tools (e.g., project management software)

• Administrative tools (e.g., payroll services)

This adds another layer of detail, helping you analyze which areas are consuming the most resources.

6. Leverage Reporting Features

Run reports in your accounting software to evaluate trends in subscription spending. Look for opportunities to:

• Negotiate better rates

• Consolidate tools with overlapping functionality

• Identify and eliminate unused subscriptions

7. Integrate Subscription Management Tools

If you’re juggling a large number of subscriptions, integrating a subscription management tool with your accounting software can make a big difference. Tools like Ramp, Spendesk, or even Excel plugins can:

• Send reminders for upcoming renewals

• Highlight duplicate or unused subscriptions

• Provide detailed breakdowns of spending

Final Thoughts

Organizing subscriptions in your accounting software isn’t just about tidiness—it’s a way to save money, reduce waste, and improve cash flow. With clear systems in place, you’ll have one less thing to worry about as you focus on growing your business.

Start small: create a subscription category, list your services, and automate your payments. As you gain momentum, you’ll find subscription management becomes a natural part of your financial routine.

The Remote Controllers can help you take subscription management off your plate. With our expertise in accounting software and financial organization, we can streamline the entire process, saving you time and money while ensuring no expense slips through the cracks. Let us handle the details so you can focus on growing your business.