Written by Jonnie Hallman
Cushion has always provided a clear picture of your income as a freelancer, but there’s two sides to the equation. You could have your best year income-wise, but what if you also spent more than you’ve ever spent before? To shed light on this half of the story, I’d like to introduce Expenses!
Alongside the main tabs in Cushion, you will now see an “Expenses” tab. Here, you can create expenses manually or import them from your bank statement.
Importing has a ton of smart features to make the process less painful, including expense grouping, which lets you edit a group of expenses once instead of each one individually.
If you’ve previously imported similar expenses, Cushion will make suggestions for the edits you made before, so you don’t need to repeat yourself each time.
Once you’ve imported a few months of expenses, you can switch to the monthly graph view to see how much you spend month-to-month. Cushion will even indicate your average monthly expenses.
With expense categories, Cushion can segment your spending, so you can easily see where you spend the most. And when tax time comes around, you have an instant look at a breakdown of your business expenses.
Along with regular expenses, Cushion also has recurring expenses. Instead of having to manually create these expenses yourself, Cushion will automatically detect recurring expenses based on your spending habits. As soon as Cushion detects at least 3 similar expenses in a row, it will mark it as recurring, along with the range.
Once a recurring expense is detected, Cushion will forecast how much you're estimated to spend for the rest of the year. This is incredibly helpful to get a sense of your expenses over time.
Take a look at the new expenses section and let us know what you think! This is the initial launch, so we have so much more planned for the feature. Keep an eye out for updates!