Best expense tracker apps and software

The app wants to cut out all the hassle in accounting and ensure your books are kept up-to-date, letting you worry about other things. This becomes an essential concern the more employees a business has, as lost receipts are literally money thrown away. Software that allows businesses to keep a proper record of expenses isn’t just more efficient, it’s also more profitable. If you’re in business, one of the trickiest issues can be managing your accounts effectively.

• An expense tracking application rectifies this and becomes their best friend by organizing the data and extending that with useful analytics.
• Expense tracking apps’ automated features combat intentional fraud, such as falsified or inflated expense claims, and fraud that occurs due to oversight.
• Just find a good bookkeeping Excel template and make sure to update it at least once a week.
• You can organise your receipts and keep track of all your payments.
• If you want to try one of these receipt scanning apps, here are the ones that we think are best for the job.
• They allow quick and easy tracking of your finances no matter if you’re working from the office, at home or on the move.

With the expense side of things in mind specifically, there’s an app that lets you take pictures of receipts and submit them to make expense claims. Bosses can quickly manage and approve them with the software, and everything is tightly organized. For your records, you can generate reports in the form of XML, PDF, CSV and XLS files. A receipt scanner isn’t the cheapest purchase you’ll make for your home or work office so I hope this guide makes the decision a little easier. While the Vupoint ST470 doesn’t give you the ability to connect to cloud services, it does have a micro SD card you can use to save your receipts on the go. For crisp scans of important receipts and documents, the ability to scan high dpi is required.

Shoeboxed

Abukai is a surprisingly simple app that has one main purpose, and that is to manage all your expenses without much effort. It basically helps you track everything that takes time to track when you’re traveling for your job. If you’ve got a large or quickly-growing business with a lot of paperwork to deal with, you might consider investing in a dedicated business document scanner, like the Kodak Alaris. But if you’re looking for an app that can ingest a lot of receipts quickly, in every way imaginable, Receipt Bank is the app for you. Due to the Period of Limitations, the IRS also technically requires you to hold on to receipts for significant expenses (i.e. larger than $75) for at least three years. You’ll know exactly where your money is going every month—so you can cut spending where it’s getting out of hand. When tax time comes, you won’t spend hours sorting through a pile of crumpled receipts wondering whether that $13 parking charge was for a client meeting or a date.

Can now be done by an app means that you can keep on top of deductible expenses, helping ensure you bank the profit due to you and pay less on taxes. Unfortunately, this receipt scanner isn’t the easiest to take with you on the go, so keep that in mind if you choose to purchase it. Instead of using traditional budgeting buckets, users allocate every dollar they earn to something (known as the “zero-based budgeting system” where no dollar is unaccounted for).

Best Receipt Scanner Apps Compared

Expensify lets you snap a picture of the receipt, and it will process the receipt photo to pull out all the important details. The great thing about Excel is, once you’ve entered all your transactions, you can generate reports and start getting insights about what those numbers mean.

TJ Porter has in-depth experience in reviewing financial products such as savings accounts, credit cards, and brokerages, writing how-tos, and answering financial questions. He has also contributed to publications and companies such as Investment Zen and Echo Fox. He aims to provide actionable advice that can help readers better their financial lives. In his spare time, TJ enjoys thinking up new ways to optimize my own finances, in addition to cooking, reading, playing games , soccer, ultimate frisbee, and hockey. Once you’ve uploaded your data, Wave will add it to its financial and accounting software so you can easily generate reports based on your expenses.

What are receipt management apps?

Here is a resource about how to scan receipts and here is a resource listing the benefits of a receipt scanner app. Choosing the best app to scan receipts requires a deep analysis of your business process and requirements. Ditch the mountain of paper you’ve got stuffed in your filing cabinet. Formerly known as Receipt Bank, Dext lets you digitize your receipts using their mobile app, email integration, or web app.

Import GL codes from your accounting package to tag expenses with multiple levels of detail. Create budgets for expense categories or expense types and put a lid on the spending.

Concur Expense Solutions

Andrew Martins has written more than 300 articles for business.com and Business News Daily focused on the tools and services that small businesses and entrepreneurs need to succeed. Andrew writes about office hardware such as digital copiers, multifunctional printers and wide format printers, as well as critical technology services like live chat and online fax. Andrew has a long history in publishing, having been named a four-time New Jersey Press Award winner.

We support multiple methods for uploading expenses, no matter the currency. They can be itemized, split, added as per diem allowances, or consolidated under one expense type. As an admin, edit the expense creation forms to suit your organization’s requirements and choose what fields employees must fill in https://www.bookstime.com/ while submitting expenses. Not just for all business teams, Zoho has helped the accounting team as well. A remarkable thing about the Zoho experience, is the constant support they give us, for every little query. Quit waiting extended periods for your receipts to be scanned and converted to expenses.

Start digitizing your receipts today!

Managers and executives can easily approve reports while on the go, meaning employees get their money back even faster. FreshBooks isn’t specifically an expense tracking app, but that’s what makes it so great. It does just about everything a freelancer would need to do include sending invoices, creating expense reports, and tracking time. Easily generate expense reports and save a digital copy of all your receipts in case of audit. Identifying and categorizing employee business travel expenses can be done efficiently when you have a real-time tracking system. This allows your employees to upload their receipts right away through a mobile app. This gets passed towards predefined levels of approvals and only if it passes through, they get their money back.

• QuickBooks might be too complicated for freelancers, or for tiny businesses that are just starting out.
• Digital data is protected by Secure Socket Layer encryption, which is also used by online banks and medical information services.
• Webexpenses builds claims instantly from a scanned receipt and is suitable for businesses of all sizes across more than 70 countries.
• Some scanners can take a snapshot of your documents as quickly as 7.5 seconds flat.
• You can add services and capacity through two more tiers, topping out at $54 per month.
• There are more comprehensive alternatives such as Quickbooks, which are all-encompassing accounting and administrative software.
• You can simply capture a picture of the receipt and details such as merchant, date and price are automatically coded for faster reimbursement.

Upgrading to a premium plan even allows you to collaborate on your bookkeeping with up to five other users. All of this will lighten your load without compromising on excellence. We’ve reviewed the most powerful apps that let modern freelancers and business owners stay organized with their expenses.

Attach digital copies of your receipts to your expenses as proof of your expenditures. Zoho Expense supports imports from Zoho Docs, Evernote, Google Drive, OneDrive, Dropbox, and Box. Automatically forward these receipts to your personalized receipt forwarding address and convert them to expenses instantly. MMC Receipt integrates with FreshBooks allowing you to record expenses real time through receipt capturing and categorizing them instantly using OCR and Machine Learning.

• It’s also possible to integrate your itinerary with the TripIt app for better management of travels.
• Custom routing rules then send the expense to the best-matched approver.
• This app is particularly popular with those who are self-employed.
• This is critical when you’re traveling and don’t have a lot of time to deal with them.
• It essentially makes your mobile phone a receipt scanner in your pocket.
• This is especially true if you want to keep receipts recorded but don’t need to generate expense reports.

These apps can help you gain control of your finances, pay down debt, and grow your net worth. Some even allow you to upload receipts, track mileage, and send invoices, which are all helpful if you run a business. Expense tracker apps help you gain control Receipt Tracking Apps of your personal and business finances. Many of these apps also monitor your credit, help you pay down debt, and send invoices to customers. If you want to try out the basic features and functionality, go with a free option with no credit card required.

With a receipt-tracking app, you can quantify how much each transaction cost, as well as any expenses your employees may have incurred. The scanning part works exceptionally well, since Office Lens automatically trims and enhances the document so the text on it is easy to read.