By using software to track expenses, you can save time and money and make your employees more efficient. It also gives you insight into a company's spending habits, making your life (and your accountant's) a lot easier come tax season.
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75+ Categories A selection of the best business software.
Here are some of the best expense trackers for small businesses.
Recommendations for the best business expense trackers
Best accounting software with business expense tracking features
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Early plan costs $15 per month.
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Growing plan costs $42 per month.
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$78 per month for established plans.
Best accounting software with business expense tracking features
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The Simple Start plan costs $30 per month.
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$60 per month for the Essentials plan.
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$90 per month for the Plus plan.
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Advanced plan costs $200 per month.
Best accounting software with business expense tracking features
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Lite plan costs $19 per month.
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Plus plan costs $33 per month.
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Premium plan costs $60 per month.
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Custom pricing for select plans.
best overall business expense tracker
To take advantage of paid plans at a lower price, business owners can use Expensify's business credit cards and pay for subscriptions yearly instead of monthly. The company also offers plans for self-employed people.
The best feature-rich business expense tracker
Reason for choosing it: Certify's software extends beyond expense management to travel management, corporate credit cards, and refund payment processing. Certify's business expense tracking features for both plans include a mobile app for creating and sending expense reports, receipt scanning, user role and approval workflow management, and other features. Both plans offer QuickBooks integration, but you'll need to upgrade to the Professional plan to integrate with other accounting and business-related software.
Best mobile expense tracking app
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Free plan costs $0 per month.
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Standard plan costs $5 per user per month.
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Premium plan costs $9 per user per month.
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Custom pricing available for more than 100 users.
Best expense tracker for medium and large businesses
Reason for choosing it: As part of SAP's enterprise-level business software ecosystem, Concur Expense focuses on data security, policy compliance, and automated technology capabilities. Combined with the company's quote-based pricing, it may be suitable for medium and enterprise-sized businesses. Concur's additional travel management and invoicing software completes the complete spend management solution for businesses.
How does Business Expense Tracker work?
Business expense trackers are usually accessible online or through an app on your mobile device. When you sign up with a provider, you receive an account and a set number of employees have access.
How to choose a business expense tracker
Most business expense trackers include at least two of the following features: Identify the tracker that has the best versions of the features you plan to use the most.
compliance
All expense tracking software must be Sarbanes-Oxley (SOX) compliant, also known as the Public Company Accounting Reform and Investor Protection Act. The purpose of SOX is to protect investors by improving the accuracy and reliability of corporate disclosures.
Additionally, all expense tracking apps must offer up to seven years of data storage. This is required by the IRS in the event of an audit request.
integration
Expense trackers should integrate with your accounting software so that information can be smoothly transferred between parties within your company. Most applications integrate with major providers such as QuickBooks and Xero.
User interface
If your employees submit expenses on behalf of your business, the software should be easy to set up and use. Finding a simple and accessible platform can reduce future logistical headaches. If you have employees overseas, you need to make sure they can access the software in their local language and submit expenses in their local currency (the software will have to do the conversion for you).
mobile access
Being user-friendly also means having a robust mobile app. After all, the best way to track expenses is to enter them into your system as soon as possible.
To do this, your app must have receipt image capture technology. This allows you to take a photo of your receipt with your phone and upload it directly to the app. The best business expense trackers feature optical character recognition and automatically convert handwritten or printed text into machine-encoded text, so you can extract as much as possible from your receipts without manually entering information. You can collect specific information.
analysis
A business expense tracker should be able to organize your expense data so you can better understand where your money is being spent. For example, you should be able to see the difference in your spending from week to week, month to month, and year to year. You should also be able to create a budget, allocate your spending to specific projects, and make sure you're spending within your means.
