Keeping accurate logs of business expenses can seem like a money-wasting bore. But it doesn’t have to be that way: with these apps you can keep your finances organized and documented from your smartphone, whether you’re on the road, at home, or in the office.
Table of Contents
Best Apps For Keeping Track Of Business Expenses
PRODUCT
BEST FOR
PRICE
Expensify
All-around option
Starting at $5 per user/month
Certify
Feature-rich expense tracker
Starting at $8 per user/month
MileIQ
Transportation businesses
Free (quote-based for teams)
Zoho Expense
Low-cost option
Free
Concur Travel
Businesses with many travel-related expenses
Quote-based
Expensify: Best business expense tracker for most business types
Expensify offers a good all-around option for most small and midsize businesses. Among the features you can expect are unlimited receipt scanning, the ability to import personal and business credit cards, and next-day reimbursement on approved expense reports.
Expensify also integrates with a variety of other applications, such as Uber and Lyft for automatic receipt import, QuickBooks and Xero for accounting, and Zenefits and Gusto for human resources. There is also a GPS mileage tracker built into the app that allows you to take the calculations out of business travel. Other perks include per-diem spending limits and the ability to configure policy rules, create custom expense reports and delegate access.
There are two pricing packages for businesses. The Collect plan starts at $5 per user per month and includes all of the aforementioned features plus duplicate expense deduction and tax tracking features. The Control plan costs $9 per user per month and includes everything in the Collect plan plus the ability to reconcile statements from multiple cards, greater customization and the ability to integrate with more applications.
Both plans come with a six-week free trial. Note that Expensify also offers a pay-per-use plan.
Certify: Best feature-rich business expense tracker
Certify boasts a variety of core features that will automate most expense-related processes, saving you a lot of time. Among the features is ReceiptParse, which uses optical character recognition to extract expense data from receipts.
Certify’s ReportExecutive can auto-generate expense reports for your entire company by setting a reporting schedule, sending reminders, reviewing submissions and submitting the reports. Certify also offers a variety of receipt submission methods, including text, email, scan and fax,
The Spend Smart features allow users to rate vendors they did business with and share these ratings with the rest of the company, helping your entire enterprise make more informed spending decisions. There is also QuickBooks integration, a reporting suite, global functionality and the ability to customize permissions and access.
There are three Certify pricing plans. Certify Now! costs $8 per user per month and provides access for up to 25 users. With Certify Now! you get all of the aforementioned features. The Professional plan is quote-based and can accommodate up to 200 employees. The Enterprise plan is also quote-based and is for businesses with more than 200 employees.
With the Professional and Enterprise plans you get access to additional features, including a dashboard for managing travel, ACH transferability, automated invoicing, additional integrations, receipt backup and personalized feeds for all your corporate credit cards.
MileIQ: Best business expense tracker for transportation businesses
If you operate a business where your employees have to drive a lot, MileIQ is a great option for tracking your expenses. Once installed, the app will simply work in the background as you drive, calculating your travel distance without your having to click any buttons and storing that information in a centralized place.
At the end of each drive, your employees will see how much they are eligible for reimbursement and then export the record directly to you. Account-holders can customize their platform by adding additional vehicles, locations and purposes of travel.
MileIQ can also work for independent contractors. Uber and Lyft drivers use MileIQ to calculate miles driven on the job, which they can then write off on their tax returns.
MileIQ is free for up to 40 drives per month for individual users. Teams receive quote-based pricing and discounts based on volume, as well as personalized training.
Zoho Expense: Best low-cost business expense tracker
Zoho Expense offers the best set of features for the lowest cost. There is a free plan for up to three users, a Premium plan that costs $5 per user per month and an Enterprise plan that costs $8 per user per month. While the free plan limits your feature set, the Premium and Enterprise plans give you an impressive amount of functionality.
Among the features included in the Premium plan is unlimited receipt scans and storage, customization for up to 25 policies, automated workflows and budget management. Users can also import credit card transactions, apply tags to expenses and manage itineraries directly from the Zoho app.
Zoho Expense also integrates with a lot of different software, including QuickBooks, G Suite, Slack, Evernote and Dropbox. The Enterprise plan offers up to 500 users, advanced trip management, additional integrations and premium customer support.
Concur Travel: Best business expense tracker for travel-related expenses
Concur offers a variety of different expense tracking products, but if you have employees traveling via airplane and staying in hotels often, you will want to use Concur Travel. That’s because Concur Travel will allow you to book entire business trips directly in the app.
Customers will receive access to special travel deals, pre-trip planning features and reporting that provides insight into travel spending and monitors trends and offers comparisons. Using Concur also allows you to link your product with a suite of other Concur products, such as Concur Detect for auditing and Concur Invoice for invoice processing.
Concur Travel has quote-based pricing. Reach out for a free consultation.
Honorable mentions
We also want to mention two business expense tracker apps that just missed the cut: Rydoo (formerly Xpenditure) and Abacus. Both offer an impressive feature set. However, we can’t say that either stood out definitively over their competitors in any of the major categories we evaluated.
We are mentioning them because part of finding a good business expense tracking application is personal preference. You may find that you and your employees prefer the interface offered by Rydoo or Abacus over another option. Therefore, we would be remiss if we didn’t at least put them on your radar.
Free business expense tracker app
- BizXpenseTracker (BXT) – Best for Small-Business Owners
The BizXpenseTracker (BXT) is a good overall tracker for small-business owners looking to capture all expenses, get organized and save money. This comprehensive app, on the market since 2010, tracks expenses, mileage and time.
A full-featured small-business expense tracking app, BXT allows for creating PDF and CSV reports for importing into Excel. The app features quick and easy on-screen filtering and file linking via email. Live mileage tracking ensures no mileage or time spent traveling is lost. For time tracking, this expense tracker app can be used to customize rates hourly, daily or by visit. The app also makes it simple to calculate overtime.
- Concur Mobile – Best for Tracking Travel Spends
Fast and accurate creation of detailed expense reports is a necessity for the small-business owner working to stay competitive. Concur Mobile allows you to automate and integrate expense management. This business expense tracker app automatically captures spending and the resulting receipts from multiple sources and then processes the reports.
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The Concur Mobile app simplifies the expense reporting process, making it easy to quickly track expenses like travel and reimburse employees. The Concur TripLink capability gives travel managers visibility of travel expenses, even if employees book directly.
- Expensify – Best to Capture Receipts
Expensify offers a superior way to manage and save business receipts and record expenses. Launched in 2008, the app scans, reads and imports all receipt details. This includes foreign currency. This expense tracker app allows for syncing your credit cards so that company expenses are pulled in automatically.
With this app, receipts can be submitted directly to business managers or the company accountant, allowing for immediate expense approval or rejection right from the app. A next-day reimbursement feature allows for reimbursing employees quickly. You can also categorize, tag and group expenses so that reports can be easily created. The free expense tracker app allows for a certain number of complimentary scans per month.
- Goodbudget – Best for Beginners
Good budgeting starts at home, and Goodbudget is designed with that in mind. As one of the best expense tracker apps, Goodbudget syncs between mobile devices and the web, allowing users to plan their household spending using what is known as the envelope method. This entails allocating a certain amount of income into various spending categories with a set monthly amount, such as rent/mortgage, groceries, childcare, transportation and debt payoff.
The user’s aim is to only spend what is in each envelope per month. With this expense tracker app, the virtual envelopes turn red if the budgeter overspends in that category, while money left over shows as green. The app was developed with the intent of helping users stick to budget limits without having to place actual cash into real envelopes.
- Wally – Best for Millennials
Attractively and intuitively designed with millennial sensibilities in mind, Wally is an integrated expense tracker app with appealing graphics and social features. Wally centralizes your accounts to provide insight into your spending habits. This is accomplished by syncing with your financial accounts and using artificial intelligence. The focus of the app is on the user’s expenses.
Wally’s budget tracker allows for setting a budget and managing day-to-day spending categories. You can quickly and easily see if you are over or under budget. The app also has a social feature for shared expenses. You can start groups amongst family and friends and budget, track and sync together to reach shared goals. You’ll enjoy a consolidated view of joint accounts. That feature and more makes this one of the best expense tracker apps.
- QuickBooks Online – Best for Comprehensive Financial Management
QuickBooks Online is one of the most extensive financial management programs on the market for small-business expense tracking. One of the program’s top features is the ability to upload receipts with a photo. An app automatically matches the receipt to existing expenses or creates new ones.
In addition to importing and categorizing expenses, QuickBooks has the capability of creating invoices, tracking inventory and receiving payments. Additionally, there is QuickBooks Capital. This feature allows you to access your business credit score. Your business credit score is determined by collecting information from banks, vendors, business credit card usage and other third-party sources. Banks, lenders and vendors will use this score to decide whether to do business with your company.
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- Everlance – Best for Reimbursement and Mileage
A popular app among the self-employed, Everlance provides solutions for how to keep track of business expenses. This app enables you to track mileage, expenses and receipts. You sync your credit cards and bank accounts to track expenses. The app, introduced in 2015, allows for easy categorizing and separation of business and personal expenses.
You can even set custom rules for recurring expenses and transactions. The app also tracks revenue, including income from multiple sources. Everlance uses GPS technology to track your trips and create an IRS-compliant mileage log. Mileage and expense reports can be quickly and easily exported via PDF and CSV Excel formats.
Conclusion
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