Expense Report
The Expense Report provides a detailed transaction-by-transaction list of all business expenses during a selected period. It's essential for tracking costs and documenting tax-deductible expenses.
What's Included
The Expense Report lists:
Challenge Costs
Every prop firm evaluation you purchased:
Date of purchase
Challenge name
Prop firm
Amount paid
Challenge Refunds
Refunds received from prop firms appear as negative rows under Challenge Costs, reducing your total challenge cost:
Date received
Challenge or funded account the refund relates to
Negative amount (e.g.
,$150.00)
This means the report shows you both what you spent on challenges (gross) and what you got back, with the running total reflecting the net.
Business Expenses
All expenses from the Transactions module:
Tools & Software (TradingView, VPS, etc.)
Education & Coaching (courses, mentorship)
Data & Research (market data feeds)
Hardware purchases
Other business expenses
What's Not Included
Private account trading P&L, deposits, and withdrawals. Private accounts are personal trading activity, not business activity, so they're excluded from every report.
Unpaid items. Only expenses marked Paid appear. Pending or unpaid bills are excluded.
How to Generate
Navigate to Reports
Find the Expense Report card
Pick your date range:
This Year
Last Year
Last Quarter
Custom range
Click CSV to export
Grouping and Organization
The report organizes expenses by:
Category, grouped by expense type
Date, with each category sorted by date
This makes it easy to see totals by category, which is helpful for tax deduction categories.
Category Totals
At the end of each category section, you'll see the subtotal:
Challenge Costs: [List of challenge purchases] Subtotal: $3,500 Tools & Software: [List of software expenses] Subtotal: $1,200 Education & Coaching: [List of education expenses] Subtotal: $800 Grand Total: $5,500 CSV
CSV Format
Clean single table, one row per transaction
Report metadata (business name, period, report type) lives in the filename, not inside the file
Dates in
YYYY-MM-DDformatRefunds appear as negative amount rows
Imports cleanly into Excel, Google Sheets, or accounting software
Use Cases
Tax Preparation
Document deductible business expenses. The category breakdown aligns with common tax categories, and refunds are already netted against challenge costs.
Budget Analysis
See where your money goes:
How much on challenges (after refunds)
How much on tools
Where you could cut costs
Cost Tracking
Monitor spending trends over time. Compare this quarter to last quarter.
Audit Documentation
If ever questioned about deductions, the detailed report provides transaction level documentation.
Multi-Currency Handling
Expenses are grouped by currency with separate totals:
USD Expenses: [List of USD expenses] Total USD Expenses: $5,500
EUR Expenses: [List of EUR expenses] Total EUR Expenses: €1,200 No conversion between currencies.
Challenge Costs vs. Other Expenses
The report separates:
Challenge Costs, a distinct category for prop firm evaluation purchases. These are often a trader's largest expense and may have specific tax treatment. Refunds appear in this same section as negative rows reducing the total.
Other Expenses, general business expenses by category (software, education, etc.).
This separation helps you understand:
How much you're investing in challenges (net of refunds)
What your operational costs are
Before Generating
Ensure data is complete:
All challenge purchases recorded in Challenges module
All refunds recorded against the right challenge
Expenses marked Paid
Proper categorization applied
Accurate dates
Common Questions
Why is an expense missing? Check if it's marked Paid. Unpaid expenses don't appear in reports.
Why is a refund showing as negative? Refunds reduce your total challenge cost, so they appear as negative rows in the Challenge Costs section. This is more accurate than treating them as income, since refunds aren't money you earned, they're money you didn't end up spending.
Can I add more categories? Categories are predefined. Use "Other" for expenses that don't fit, and add details in the description or notes.
Should I include personal expenses? Only include legitimate business expenses. Personal costs don't belong in business reporting.
How do I handle mixed use expenses? If something is partially business (e.g., home internet), record only the business portion. Consult a tax professional for proper allocation.
What about private account losses? Private account trading P&L is excluded from all reports. Private accounts are personal trading activity, not business activity, so trading losses there are not business expenses.