Any business, regardless of its size, needs money to perform. This money isn’t necessary only for long-term transactions (such as investments), but also for the business’ daily operations. It’s essential to be on top of your income and expenses.
Many apps that can help you with this dreadful task. Even if you are already using software meant to track expenses, it’s one thing to follow your regular bills and invoices and another to oversee the irregular expenses, such as travel tickets or restaurant receipts. Don’t forget about those tiny expense receipts that can easily be lost.
Fortunately, you have many solutions to choose from, for managing your expenses. Here’s our list of the best business expense tracker apps. All in all, they offer the same features, but depending on your business, you may lean to the ones that have a special focus on travel expenses, mileage tracking, multiple bills management, etc.
Best for automated expense tracking
Expensify is the software you need if you are looking for managing your expenses in real-time. Forget about the hassle in accounting and manual data entry, because this app makes sure your books are kept up-to-date.
Expensify can do everything, from tracking receipts to tracking mileage. How does it work with the receipts? You scan them with the app and information such as date, merchant and price are automatically coded for reimbursement. The next step is to generate real-time reports, which will be submitted for approval, to the person in charge of the approvals.
One more point in their favor is the quick reimbursement - the system delivers fast money to employee bank accounts based on the accounting reports.
For the forgetful employees, Expensify sends notifications for forthcoming trips, flights or changes to the itinerary. You can benefit from smart integrations, like SaneBox, QuickBooks, Xero, Uber, Oracle, etc.
Available on: Web, Android, iOS.
Price: from $5/month/user.
Gaining an accurate perspective into your expenses
Once known as Xpenditure, Rydoo wants to be seen as the best in tracking employee expenses, making you forget about paper reports and it prides itself with countless integrations.
Using this app, you bypass manual data entry and paper-based expense reporting.
Receipts can be uploaded through the app or via email and you only need to add extra information, such as project or payment method.
You have the liberty to organize the way of using the app, by setting up offices, branches and project groups. This will be a great plus for your financial policy. Furthermore, you can add company financial policies to Rydoo, so you’re notified when an employee submits an expense that isn’t approved by company code.
Maybe their key feature, the integration with other apps(SAP, Netsuite, Oracle, etc) allows you to migrate easily to other platforms.
Available on: Web, Android, iOS.
Price: from $4.27/month/user.
Automated expense reporting from company cards and quick approvals
When using Zoho Expense, expenses are recorded as they happen. The app allows you to scan receipts on the go and sort them by category and then submit expense reports to the approving managers.
Zoho is perfect for employees who travel for work interests, thanks to the GPS tracker and Maps, essential tools for mileage tracking. They can connect their credit card to the app and imports are operated automatically.
The upgraded analytics are useful for keeping track of excessive spending and breaches of policies.
Use it on your mobile, whenever you need it. Even if you’re offline, Zoho will still record data. All the changes made while offline will be synchronized once you run into network connectivity.
Available on: Web, Android, iOS, Windows.
Price: Free for 3 users and 100 receipt scans; from $15/month for 10 users.
Affordable accounting for everyone
When talking about accounting software, QuickBooks is the most well-known app. Designed to enhance your accounting processes, this app is available on a range of platforms.
You have access to an invoice generator that allows you to track sent invoices, regardless of the currency. Keep an eye on the profits and losses by connecting your bank account to the app.
As a trick, the app lets you customize your invoices and receipts with your company’s logo.
You can also track invoices to guarantee you get paid on time and go after them when a client’s payment is overdue, thanks to the real-time dashboards available.
Save time and money creating employee payslips and tracking all employee deductions.
Additionally, QuickBooks grants sales tax tracking compliant with tax requirements.
Available on: Web, Android, iOS.
Price: From $10/month/user with the Simple Start package for small business.
The ultimate app for travel expense management
Travel is inevitable for any organization: you will have to send an employee to meet with a prospective client or to provide support on-site for an existing client. Either way, employees will need to leave the office, internationally or within the country. SAP Concur is the app you want to accurately keep track of the expenses incurred during these periods.
This app is your digital assistant for everything: booking business flights, approving travel invoices, reports, travel requests, managing entire itineraries.
It’s an intuitive app, which lets you see customized hotel suggestions, based on an estimated travel budget.
Another useful feature is related to enforce internal policies and satisfying external regulations. You can submit and approve expenses anytime, from anywhere. Control your expenses easier, with all your travels in one place.
Available on: Web, Android and iOS.
Price: According to G2, prices start at $8/month per user for small business.
Speeding up approval workflows processes
Your financial department will love Abacus. Every month, after employees submit their expense reports, financial specialists have to review every transaction to ensure it’s compliant with the company’s policies. When using this app, the expense approval workflow process takes place extremely fast. In the admin’s panel, various expenses can be set to be automatically approved, while others can be set to require a manual review. You can build up an approval hierarchy, so the app will do its job and send expense reports to the best-matched approval manager.
Abacus allows for a very easy reimbursement for your employees. Moreover, the app outlines expenses from reliable data sources, such as card transactions, receipts, past behavior or geolocation, therefore ensuring your records are accurate.
Available on: Web, Android, iOS.
Price: from $9/month per user.
Perfect for digitizing receipts
Shoeboxed is perfect for small businesses that need help in organizing and digitizing all their receipts. By using their “Magic Envelope”, you make sure you benefit from maximum accuracy. Why is that? Because once you mail your receipts in a “Magic Envelope”, Shoeboxed ensures that all of them are human-verified and accepted by the IRS and CRA. In a few days, your receipts will be scanned, uploaded, and inferred into Shoeboxed expense reports.
The app also allows mileage and business card tracking, without manual data entry. Additionally, you can export expenses from Shoeboxed to other solutions, such as Excel, QuickBooks, and Xero.
Available on: Web, Android, iOS.
Price: from $15/month for fifty digitized receipts.
Conclusion
There you have our list. We are confident that after reading our description of every app, you are one step closer to choosing the one you and your organization needs. Don’t forget to look for one or more of the following aspects: