If you’re running a business, you must know how important it is to keep track of all the expenses. By keeping tabs on your spending, you can get a clear picture of your company’s growth. Tracking day-to-day business expenses can be time-consuming, but you can manage your money more effectively by employing a business tracking app.
How Expense Tracker Apps Are Helpful For Your Business?
By bringing these business tracking apps into play, you will be able to create more financial awareness and grab insight into spending habits.
These tracking apps can transform your account and help you make important financial decisions whenever needed. Business expense tracking apps can be accessed using your mobile device. Some apps can also integrate with your accounting software. So, once you have signed up with a provider, fill in all the necessary details that need to be tracked and grant access to other employees.
Here, we have curated a list of the best business tracking apps that can help you manage your finances in a better manner. Continue reading to explore which app suits your business needs the most.
Top 6 Business Tracking Apps that Every Business Owner Should Try
Goodbudget: Best for Beginners
Goodbudget is designed keeping in mind businesses that run from the home. This is one of the best tracking apps for beginners. Goodbudget syncs your mobile device and the web. Users can plan their spending using the so-called Envelope Method. The Envelope Method allocates a specific amount of income into multiple categories with a set monthly amount.
The aim of the user should be to spend whatever is in each envelope per month. While using this Business Tracking App, if the user has overspent a category, the virtual envelope will turn red. The leftover money will be seen in a green virtual envelope. The app is developed to make sure businesses stick to budget limitations without placing actual cash in real envelopes. There are two good budget plans—a free plan and a Plus plan that costs $7 per month per user.
Download for Android.
Download for IOS.
Expensify: All-round option for most business types
Expensify is an all-around option for every small and midsize business. The features that you can expect are:
- The ability to import personal and business credit cards.
- Unlimited receipt scanning.
- Next-day reimbursement on certain approved expense reports.
The app also integrates with other applications such as Uber and Lyft for receipt imports, QuickBooks for accounting, and Gusto or Benefits for human resources. The GPS mileage tracker is built into the app, which allows you to calculate all the expenses happening out of business travel. You can also create custom expense reports and decide on who can get access to these.
Using this app, users can submit receipts directly to business managers for the company accountant and wait for an immediate expense approval or rejection through the app. The free expense tracker app allows the user-specific number of complimentary scans per month. There are two pricing packages: the Collect plan starts from $5 per user per month, and the Control plan costs $9 per user per month.
Download for Android.
Download for IOS.
Certify: Available with a range of features to track business expenses
Certify comes with a range of cold features that automates the most expensive related processes and saves you a lot of time. ReceiptParse is one of those features that uses optical character recognition in order to collect expense data from the receipts. The ReportExecutive feature auto-generates expense reports for the company by making a reporting schedule, reviewing submissions, sending reminders, and submitting reports. The spend smart feature will allow you to rate vendors that you had business with and share the ratings with the rest of the company. This helps everyone in your enterprise to make certain informed decisions.
Certify plans cause $8 per user per month and provide access to 25 users. With the Professional plan, you can accommodate up to 200 employees, and the Enterprise plan accommodates more than 200 employees. These two plans come with additional features such as a dashboard for managing travel expenses, automated voicing, and personalized feeds.
Download for Android.
Download for IOS.
BizXpenseTracker (BXT)- Best for Small Business Owners
BizXpenseTracker is the most suitable app for small business owners and solo entrepreneurs. Users can track mileage, expenses, and time while they are outside the office. The app does not involve integration with other apps. Instead, you can export the data to the PC and process all the details. It offers multi-currency functionality, which allows you to choose a specific currency.
BizXpenseTracker offers flexibility when it comes to reports. Users can export reports to a CSV file for Microsoft Excel importing. The app is available for both Android and IOS for $6.99, along with add-on options.
Download for Android.
Download for IOS.
Concur Mobile- Best for tracking Travel Spends
SAP Concur allows you to manage any kind of expense or travel-related expense from any place. The features include booking and managing itineraries, capturing receipts and submitting expense reports, getting immediate approval or rejection of reports, and adding car mileage to reports. The ExpenseIt Pro includes the feature of attaching real documents and receipts to control cost and compliance issues. There will be no errors in numbers and lost receipts.
Concur prices start from $8 per report. If you’re planning to purchase the product for the first time, it will cost you around $82.90 per month, including all the features and zero setup cost.
Download for Android.
Download for IOS.
MileIQ: Best for Transportation Businesses
If you and your employees operate a business that involves driving around a lot, MilelQ will be a good choice for you. The app will start running in the background once the installation is done. While you are driving, it will calculate all your travel distances and store the information in one place. At the end of the drive, users can view the eligibility for reimbursement and send the export reports to the business owner.
You can even customize the platform and add locations or purposes of travel. MilelQ is used by Uber and Lyft drivers to calculate the miles driven during their job. The app is free up to 40 drives per month for individuals. Teams have to meet quote-based pricing and discounts based on the volume.
Download for Android.
Download for IOS.
These apps are filled with knowledge surrounding different markets. Utilize the right business tracking app that suits your goals and allows it to do all the heavy lifting for you.
