Best Expenses Tracker App for Small Business

Best Expenses Tracker App for Small Business

While running an organization, several expenditures that occur every day is challenging to remember. As an entrepreneur of a business, it can be challenging to track all the organization’s expenses. 

Depending on the situation, you may have to hire people to look after your financial activities, which can be costly.

You can rely on expense tracking apps that keep track of all your organization’s expenses in such cases. These apps are incredible as they are simple and have an easy-to-use user interface to help you track your expenses. It also helps create your financial report, reduce your expenses, and work as a financial advisor.

The perk of using the app is that even if you are not in the organization, you can monitor all the financial activities going on in the organization. 

These apps also reduce paperwork, digitize all your receipts and financial data, and store them permanently, and you don’t have to worry about papers getting lost. 

Benefits of Expenses Tracker App

Helps you Prepare Budget:

When you start a business or general life, you need to have a budget to determine your cash flow and expenses. A Budget makes it easier for business owners to determine their net income, return on investment, expenses overhead, recurring expenses, and more. 

You can create a budget for your organization using an expense tracking app. All you have to do is enter your net income, automatically creating a budget for you.

You don’t even need to enter your income in some expense tracking apps. They automatically do all the accounting activities like calculating your net profit and revenue and creating a budget for the next month.

Get a Clear Picture of Expenses:

The expenses tracking app shows all the overheads you have spent in the month. It helps you to get a clear picture of your expenditure habits. 

You may not stay in the organization all the time, and you may not track organization expenses.

For example: In your business, if you find your expenditure is increasing more than required, then you can use an expense tracking app to check where expenditure is rising.

Cut Down Unnecessary Expenses:

As an entrepreneur, you may not be able to keep track of all the organization’s activities. As a result, there can be many unnecessary expenses costing you much money.

When you use expenses monitoring apps, you will identify all the business expenses. And you can determine which expenses are essential and needs to be continued and which expenses should be cut off. 

Some expense tracking apps themselves determine which expense needs to be cut off.

And these amounts can be used for future use.

Prepare for Income Tax:

Expenses tracking apps help you organize all your receipts and permanently store them. The app even allows you to prepare your invoices and track income and all the organization’s expenditure. 

The app automatically prepares an income tax report for you by analyzing all the organization’s financial activities. 

If you don’t use the app, you have to hire someone to prepare a tax report and income statement for you, increasing your expense; hence, the app also reduces such expenses.

Create Investment Strategy:

Expense tracking apps are beneficial for increasing your organization’s savings. These apps help to generate disposable income, which can be utilized further.

You can utilize such savings by investing them in profitable sectors. The perk of an expense tracking app is that they work as your financial advisor and helps you decide where you can spend. 

Here are some of the best app expenses tracking app that can be helpful to manage your financial activities at your organization:

Best Expenses Tracker App

Zoho Expenses

Zoho Expenses is an online expense reporting and monitoring software that captures all your expenses like business, travel, and credit card expenses. You can use your mobile phone to record, organize, and calculate total costs with fewer clicks. 

Expenses Tracker App

It offers integration with Xero, Slack, Dropbox, Evernote, Uber, and much more. In this app, all you have to do is enter your expenses as it occurs, and it automatically merges with similar expenses, calculates, and stores receipts.

One of the best things about the app is reading receipt in ten languages using its auto-scan features. And you can add expenses in any currency as it supports significant currencies and converts them using the current exchange rate.

You can also sync the app with your debit and credit card so that you don’t have to add expenses manually. 

As an employer, you can create an approval flow for your employees and approve and reject expenses with a single click. 

Features of Zoho Expenses

  • It provides a cloud storage capacity of 5 GB.
  • Support multi-currencies.
  • Provide project tracking features.
  • It has an interactive dashboard.
  • Allow you to sync with debit and credit cards.

Benefits of Zoho Expenses

  • Allow creating a per diem rate so employees will not spend beyond the limit.
  • Store receipt digitally to keep the receipt safe.
  • Allow you to send billing expenses reports to customers. 

Pricing of Zoho Expenses

Zoho offers three plans, which are:

  • Free: It is free of cost and is suitable for three users.
  • Premium Plan: It costs $3 per user per month paid monthly.
  • Enterprise Plan: Its price is customizable. 

Available on: Windows, Mac, Android, IOS, Web.

Intuit QuickBooks

QuickBooks is an online software for tracking your business income, expenses, customer invoices and calculates your project profitability. It is suitable for all small and medium-sized businesses to manage finance and prepare for tax.

Expenses Tracker App

The app allows you to store data in the cloud securely. It even offers integration with more than 650 apps, including Fundbox, Receipt Bank, Halon Tax, Aero Workflow, TSheet Time Track, and many more. 

You can easily keep track of your sales, accept credit cards, and automatically calculate sales tax. 

If you upgrade your plan, the app automatically calculates employee’s billable hours using time track features. Also, it even allows you to track your bill status, helps you manage and pay bills on time, and record the payments.

It even tracks your incoming and outgoing VAT, calculates your VAT, and generates your VAT report. 

Features of Intuit QuickBooks

  • Has miles tracking features that allow you to add business trips manually.
  • Provide a time tracking feature to calculate employee’s billable hours.
  • Allow you to connect with your banks and accept bank transfers in the invoice.
  • Has multi-currency features that allow transactions over 145 currencies.
  • It provides project tracking features.

Benefits  of Intuit QuickBooks

  • It offers 30 days free trial.
  • Provides highly customizable reports
  • It provides inventory management features.

Pricing of Intuit QuickBooks

Quickbook offers four different plans, which are:

  • Simple Start: It costs $7.50 per month.
  • Essential: It costs $12 per month.
  • Plus: It costs $21 per month.
  • Advance: It costs $45 per month.

Available on: Windows, Mac, Android, IOS.

BizXpenseTracker

BizXpenseTracker is an expense tracking app suitable for solo entrepreneurs and small businesses. It is also ideal for monitoring the time you spend on projects and customize the app as per your needs.

Expenses Tracker App

The app allows you to calculate your expenses in any currency by using its multi-currency feature. And you can even download your expenses report in CSV format or save it in PDF format.

Besides calculating expenses, it expenses tracks employees to calculate their billable work hours and calculates overtime. You can even send expense reports to your client via mail and even upload the reports in Dropbox.

Features of BizXpenseTracker

  • It provides multi-currency features. 
  • Allow you to export expenses reports.
  • It calculates overtime.
  • Has in-built mileage tracking feature.
  • It has a location tracking feature.

Benefits of BizXpenseTracker

  • Easy to set up.
  • Has good customer support feature

Pricing of BizXpenseTracker

It costs $6.99.

Available on: Android, IOS.

Expensify

Expensify is an expense tracking and reporting app that makes it easy for businesses to manage their expenses. The app automatically generates your expenses report once you import your credit card transaction with it.

Expenses Tracker App

The app is helpful for the individual, small business, and big companies; therefore, they have separated their pricing according to business size.

It offers integration with Oracle, Uber, Revel, NexTravel, TripActions, and more. Using this app, you can scan any receipt and store them for an unlimited time. 

You can summarize your transaction according to the dates and maintain transparency in the partnership business. It offers GPS features so that you can easily keep your traveling expenses.

Features of Expensify

  • The multi-currency feature is available, which helps to calculate travel expenses when you travel abroad.
  • It even allows third parties like your colleague, team members to create reports for you.
  • Allow you to submit your report to the auditor.
  • Provides advanced tax tracking features to calculate tax for you as well as for your customers.
  • It provides multi-level coding features.

Benefits of Expensify

  • Easy to manage expenses.
  • It offers lots of integration.

Pricing of Expensify

Expensify offers different plans, and their prices are:

  • Individual plan: It provides two plans, which are:
  • Track: It costs $4.99 and allows you to track your expenses.
  • Submit: It costs $4.99 and allows you to submit expense reports to accountants.
  • Groups Plan: It also has two plans, which are:
  • Collect: It costs $5 per user per month and is suitable for the team to track their expenses.
  • Control: It costs $9 per user per month and is suitable for tracking their tracking expenses.

Available on:  Windows, Linux, Mac, Android, IOS, Windows phone, Web. 

Shoeboxed

Shoeboxed is a business expense tracking and document management service that scans your receipt, extracts critical data, prepares reports, and organizes them. 

Here all you have to do is send all your business receipts using the magic envelope, or you can even use their mobile app to send receipt images. And they can and organize the receipt and send you your expenses report.

It is suitable for sole proprietors and small businesses to manage their business expenses and to calculate tax and tax filing. The main benefit of the app is that it helps to reduce taxes and paperwork. 

The app provides you with unlimited storage and unlimited users. It even offers integration with apps like Quickbooks, Evernotes, HP, WorkingPoint, and many more.

Features of Shoeboxed

  • Organizes your receipts and make them audit-ready.
  • Humans verify all the receipts.
  • Has scanning features so that all your documents are digitized.
  • Allow you to send and receive receipts via Gmail.
  • Offer integration with several apps, including Evernote, HP, and more.

Benefits of Shoeboxed

  • Easy to organize receipts.
  • All the receipts are digitized.
  • Suitable for small businesses.

Pricing of Shoeboxed

Shoeboxed offers three plans, which are:

  • Startup: It costs $22 per month and is suitable for freelancers and individuals.
  • Professional: It costs $45 per month and is suitable for professionals and small businesses.
  • Business: It costs $67 per month and is suitable for businesses with high volumes.

Available on: Windows, Mac, Android, IOS, Web.

Rydoo

Rydoo is a cloud-based expenses management and reporting solution that tracks your business and travel expenses. It is available in nine languages and is suitable for all business sizes. 

Expenses Tracker App

You can use the app’s web scanner to scan your receipts and upload them to the app. Once your receipts are on the app, the app organizes your receipts and generates your expenses report. 

The app allows you to send the report to your organization’s account section and even allows you to download the report in PDF or CSV format.

It even allows you to manage employee travel expenses, book travel plans, and more. Even if you are traveling abroad, you can use its multi-currency feature that converts currency using the current conversion rate. 

Features of Rydoo

  • It offers integration with multiple apps like Slack, Uber, Dropbox, Oracle, Xero, and many more.
  • Allow you to manage travel expenses.
  • Provides a receipt scanner feature that quickly scans multiple receipts in a minute.
  • Reduce expenses approval time by automated approval.
  • Allow you to store receipts in the cloud, which reduces the chances of losing receipts.

Benefits of Rydoo

  • Reduce paperwork.
  • Easy to track international expenses.
  • Reduce stress.

Pricing of Rydoo

Rydoo has three plans, which are:

  • Team: It costs $7 per user per month and allows 50 users. 
  • Growth: It costs $9 per user per month and is suitable for more than 50 users. 
  • Enterprise: Its price is customizable and offers more than 500 users.

Available on: Windows, Mac, Android, IOS, Web.

Concur

Concur is a business expenses and travel management app that captures and records expenses from multiple sources and prepares expense reports. 

Expenses Tracker App

With this app, you even can book your air tickets, hotels, see your travel data in a single dashboard. You can even use a mileage reporting feature that uses GPS to track your travel expenses.

In this app, all you have to do is enter your invoices; the app automatically sorts those invoices and eliminates redundant data and errors. It tracks your payment and simplifies the payment method. 

Moreover, you can integrate the app with your credit cards that help to track your electronic receipt. 

Features of Concur

  • Provides a dashboard where you can view all your expenses at once.
  • Provides more than 25 templates that you can use.
  • Allow you to integrate your credit card.
  • Allow you to track your travel expenses.
  • Allow you to attach reports.

Benefits of Concur

  • Suitable for all sizes of organizations.
  • Easy to track and manage expenses.
  • Automatically creates your expenses reports.

Pricing of Concur

There are two price plans the Concur offers, which are:

  • Standard Edition: It costs $8. 
  • Professional Edition: It has custom pricing.

Available on: Windows, Linux, Mac, Android, IOS, Blackberry, Windows Phone.

Freshbooks

Freshbooks is a cloud-based accounting and expenses tracking app that tracks your mileage, manages expenses and receipts. It is a popular app among small business entrepreneurs for time tracking, managing expenses, and finance.

You can create all your invoices, customize them, and even add a logo to them, making your invoices look professional using the app. It even accepts credit cards, online payments, which make the payment process easier and faster. 

Get an accurate picture of your profit and loss using the accounting features of Freshbooks. The app uses a double-entry bookkeeping system that ensures your debit and credit amounts are equal. It automatically creates journal entries, trial balances, ledgers, balance sheets, and more.

The app can easily manage recurring invoices, create professional reports, and show them on your dashboard. You can see a summary of your activities, tax summary, accounting, and expenses report, and many other reports on the dashboard.

Features of Freshbooks

  • Has time tracking features that show time you spend on projects.
  • The accounting feature automatically creates your financial reports.
  • Allow you to create professional-looking invoices.
  • Allow you to chat and collaborate with clients.
  • Allow you to pay via MasterCard, Apple Pay, AMEX, VISA.

Benefits of Freshbooks

  • It provides multiple expenses tracker & calendar features.
  • It is easy to use.
  • Calculate your profit and loss using a double-entry bookkeeping system.

Pricing of Freshbooks

There are four pricing plans that Freshbooks offers, which are:

  • Lite: It costs $7.50 per month and is suitable for sole proprietors. 
  • Plus: It costs $12.50 per month and is suitable for small businesses.
  • Premium: It costs $25 per month and for growing and dynamic teams.
  • Select: It has custom pricing and is for thriving businesses.

Available on: Windows, Mac, Android, IOS, Web.

Personal Capital

Personal Capital is a free financial management tool that monitors your expenses, checks your accounts, and gives investment advice. You can view all your financial plans and status in a single dashboard.

You can easily manage your wealth using its wealth management features. The financial advisor will help you review your investment, make financial decisions, and plan wealth.

You can even customize your portfolio, monitor and rebalance them, and optimize tasks. The app helps you to invest in those companies that value your investment. 

The app also helps you to plan your retirement with its retirement planner. All you have to do is set your retirement goal and provide you with information regarding your saving amount and alert you if you are spending too much.

Features of Personal Capital

  • Provides a dashboard where you can see all your financial activities.
  • It provides retirement planner features.
  • You can monitor your cash in and out in your account.
  • It even calculates your net worth by tracking your assets and liabilities.
  • Allow you to optimize your tax.

Benefits of Personal Capital

  • It manages all small and large investments.
  • Help you to optimize tax.
  • Plans for your retirement. 

Drawbacks of Personal Capital

  • Regular updates in mobile apps can be better.
  • Difficult to customize.

Pricing of Personal Capital

The pricing structure of Personal Capital is quite different from other expenses apps. The pricing plan for the app is based on your Balance:

BalanceAnnual Fee (in % of Balance)
$100,000-$1,000,0000.89% 
$1 Million- $3 Million0.79%
$3 Million- $5 Million0.69%
$5 Million- $10 Million0.59%
$10 Million or above0.49%

Available on: Android, IOS.

PocketGuard

PocketGuard is personal financial management and expenses tracking app available only in the USA and Canada. The app monitors your financial activities, helps you create a budget, and reduces expenses.

You can view the remaining amount you have after paying all your bills and saving. Using the pie, you can visualize your spending on each overhead like food, transportation, entertainment, and much more. It helps you determine where you are spending more than you need.

To see your net worth and bank balance, you can integrate the app with your bank and credit cards. The app even records your cash withdrawal from an ATM, which helps track your cash flow.

Features of PocketGuard

  • Allow you to integrate your bank and credit card with the app.
  • Has an auto-saving feature that helps you to increase your saving.
  • It controls your spending.
  • It calculates your disposable amount.
  • It provides security features like PIN Code and biometrics.

Benefits of PocketGuard

  • Helps you to increase your saving.
  • It stops you from spending recklessly. 
  • It provides robust security features.

Drawbacks of PocketGuard

  • Available only in the USA and Canada.
  • The app can be better if it adds more features.

Pricing of PocketGuard

PocketGuard offers two plans, which are:

  • PocketGuard Basic: It is free of cost.
  • PocketGuard Plus: It costs $3.99 per month.

Available on: Android, IOS.

Mvelopes

Mvelopes is web-based budgeting and expenses tracking app that manages your cash flow, budgets, and expenses. You can integrate your bank account and credit cards with the app that helps to manage your expenses.

Once you integrate the app with your bank and credit card, it automatically tracks your spending and income and creates a budget for you. The budget is sent in a digital envelope, which you can edit as per your need.

One of the app’s exciting features is that if you spend more on some overhead than you allocated budget for it, the envelope turns red. You can even download your spending reports in PDF and CSV format.

Feature of Mvelopes

  • It provides unlimited envelopes.
  • Allow you to link to your bank accounts.
  • It has an email support feature.
  • It provides network tracking features.
  • It provides a debt elimination plan.

Benefits of Mvelopes

  • Easy to make budgets.
  • Simple to use.
  • Help you in saving.

Drawbacks of Mvelopes

  • Do Not send alert notifications when you spend more than your budget.
  • Can be better if it had investment features.

Pricing of Mvelopes

Mvelopes has three plans, which are:

  • Basic: It costs $4 per month.
  • Plus: It costs $19 per month.
  • Complete: It costs $59 per month.

Available on: Windows, Mac, Android, IOS.

Everlance

Everlance is a cloud-based app for freelancers to track their miles, revenues, and expenses. The app allows you to upload unlimited receipts and sync in bank and credit cards. 

With this app, you can save for tax. For this, all you have to do is select how much percentage of your paycheck you want to save for tax. It allows you to organize and store your receipts effortlessly. 

The best thing about this app is that it allows you to store your business and personal expenses separately. It offers integration with apps like Xero and Freshbook.

If you want to have VIP support, one-on-one training with an account manager, and download reports in PDF and CSV  format. You can upgrade the app to a premium version. 

Features of Everlance

  • More than 1500 banks and credits card companies allow users to integrate with the app.
  • Provides GPS to track your travel expenses.
  • Allow you to download your reports in PDF and CSV format.
  • It provides bank-level security features.
  • It provides a revenue recording feature.

Benefits of Everlance

  • It has a GPS feature that automatically tracks travel expenses.
  • It makes work paperless. 
  • It offers integration with Xero and Freshbooks.

Pricing of Everlance

There are three price plans that Everlance offers, which are:

  • Basic: It is free of costs.
  • Premium: It costs $8 per month.
  • Premium+: It costs $10 per month.

Available on: Android, IOS, Web.

Mint

Mint is a simple, accessible, and personalized expenses tracker app that customizes your budget and helps you to manage your budget. 

The app syncs with your bank account, credit card and manages your finance. Organize and manage all your digital bills and paper bills in one place. 

The best thing about the app is sending your reminder about your bill, due bills. Also, it will send you an alert when there is unusual and suspicious spending. 

While making a budget, sometimes you might go over budget; the app notifies you in such cases. You can categorize your budget, add tags to the budget, and organize transactions. 

It provides excellent security features like PIN code and Multi-Factor authentication, and more. 

Features of Mint

  • Send an alert when there are any suspicious transactions.
  • Has credit alert features that provide you with a notification when there is a new credit transaction.
  • Allow you to personalize your budget.
  • Send your alert about due bills.
  • Provides a portfolio to track your investment.

Benefits of Mint

  • It has many features.
  • Easy to use.
  • It provides you with a credit score.

Pricing of Mint

It is free of cost.

Available on: Android, IOS, Web.

Clarity Money

Clarity Money is money management and expenses monitoring app that allows you to link with your credit card account and bank account. The app provides a dashboard to view your financial statements, including your expenses, saving, and more.

The app saves time by organizing all the receipts and automatically tracking expenses. 

One of the app’s best features is that it monitors your recurring bills and cancels your unwanted expenses, saving a lot. The app provides a high level of security features.

Features of Clarity Money

  • Ir tracks all your expenses.
  • Provides a high level of security to secure your data.
  • Allow you to link your bank account with the app.
  • It has a dashboard where you can visualize all your transactions.

Benefits of Clarity Money

  • Easy to set up.
  • Track all your expenses.
  • Help you to save.

Drawbacks of Clarity Money

  • It lacks many features.
  • The app is not customizable.

Pricing of Clarity Money

It is free of cost.

Available on: Android, IOS.

Conclusion:

In conclusion, expense tracking is crucial for an individual, but it is equally important in an organization. Expense tracking apps help get a clear picture of organizational expenditure and prepare a budget. These apps also help decide where to invest and what it will be its profitability.

Here I have mentioned some of the best expenses tracking apps that are very helpful for small businesses. I hope this will be helpful for you to choose your expense tracking app. If you feel some more helpful apps for small businesses, please feel free to mention them in the comment section below.

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