A Quick Glance at the Best Business Expense Tracking Apps

1. Moon Invoice – One of the best expense tracking softwares for businesses of all sizes that helps them to manage expenses digitally through advanced features.

2. FreshBooks – This is a well-known expense management app that offers advanced features to help businesses streamline their expenses.

3. Expensify – Expensify simplifies expense management through the automation concept in expense reporting and reimbursement.

4. Zoho Expense – It is another popular expense management software that offers real-time policy compliance.

5. Everlance – This expense tracking software enables businesses to track mileage.

6. Fyle – Fyle simplifies expense management by automating receipt management and compliance.

7. QuickBooks Online – This expense management app helps businesses organize & track expenses systematically.

8. SAP Concur Expense – This application simplifies expense management through automation.

9. Ramp – It offers real-time spend tracking and smart integration for expense management.

10. Xero – Xero allows business professionals to track & categorize the business expenses in real time easily.

Top 10 Expense Tracking Apps for Small Business

Let’s explore the best business expense tracking apps, which can be very beneficial for small businesses.

1. Moon Invoice

Moon Invoice is a prominent name on the SaaS product list. This software helps to track expenses with all advanced features and digital concepts. Through its easy interface, users can experience the best navigation while using this platform.

This expense tracking application is committed to providing a neat and clean approach to managing expenses without errors.

Users can effortlessly connect their bank accounts or credit cards to the platform. That’s what? It’s a doorway to experiencing real-time spending access. By connecting, transactions are automatically synced. Simply reducing errors and saving time.

Key Features of Moon Invoice

Automation – The software offers automation. Professionals can easily get the total expenses because it sums up all the expenses they enter into the software.

Creating an Invoice – The User can change an expense into an invoice with a single click.

Receipt Scanning – The software features a receipt scan function that helps users scan sales receipts and extract data. This allows you to upload the details easily without manual effort.

Duplicate – Create a duplicate copy of your expense.

Invoicing – Over 66 customizable invoice templates to generate digital invoices.

Time Tracking – Track every single second of the project.

Reporting & Insights – The Reports section allows Users to generate business reports, which gives them the best insight into the data.

Pros

• Excellent user interface
• Automation concept
• Support third-party integrations
• Ideal for all business sizes
• Satisfactory user support through call, email, and chat

Cons

• Limited period for the free trial

Platform Availablity

• iOS, Android, Web, Windows, Mac

2. FreshBooks

FreshBooks is another cloud-based accounting software that helps businesses track expenses efficiently. It offers automated expense tracking, reporting, and analysis.

Business professionals can easily check insights into expenses in real time. Additionally, it offers the option to upload a photo of the receipt, which will streamline the expense tracking and taxation process in the future. One of the useful features of FreshBooks is billable expense tracking, which allows you to track all billable expenses and automatically add them to client invoices.

Apart from the expense, this software helps to manage invoicing, estimation, and other accounting actions. Furthermore, it helps to perform payroll and team management.

Key Features of FreshBooks

• Automated expense tracking
• Report generation
• Hourly billing
• Scalability and integration
• Time tracking
• Comprehensive analytics

Pros

• User-friendly interface
• Easy access to the account
• Improving the cash flow management
• Easy to integrate with other accounting tools
• Good customer service

Cons

• Limited expense category
• Not an ideal platform for large businesses

Platform Availability

• Android, Web, and iOS

3. Expensify

Expensify is another financial management software that professionals can use to streamline reimbursement and expense tracking. It easily integrates with third-party accounting software, simplifying overall operations.

It supports automated expense reporting creation that categorizes the expenses. Moreover, users can submit these reports to the approval team to initiate the approval process. It also helps to track the mileage via GPS, making it simple to manage travel-related expenses.

The user can easily track receipts, automatically categorize expenses, and track taxes. Expensify is a good choice for tracking expenses for a small business.

Key Features of Expensify

• Report generation
• Credit card syncing
• Corporate card reconciliation
• Automating the scanning of a receipt
• Supporting global expenses
• Invoicing services

Pros

• Auto-generation of reports
• Extracting details from the receipts
• Easy to access for the users
• Simple approach to uploading documents
• Simple reimbursement concept

Cons

• The subscription charges are high for small businesses.

Platform Availability

• Web, Mac, Andorid and iOS

4. Zoho Expense

Zoho Expense is the best business expense tracker app and software platform for small businesses. It provides a scalable expense management solution tailored for businesses of all sizes. Automated expense reporting helps users generate reports for better expense analysis. An easy-to-scan receipt is very helpful for professionals, as it allows them to scan and extract details from receipts quickly.

A standout feature of Zoho Expense is its ability to enforce policies and ensure real-time compliance. This feature helps businesses configure custom expense policies based on per diem rates, amount limits, and categories, preventing non-compliant expenses.

Key Features of Zoho Expense

• Expense categorization
• Automated receipt scanning
• Third-party integration
• Travel and mileage expense tracking
• Multi-region and multi-currency support
• Multi-level approval workflows
• Real-time transaction reconciliation
• Smart receipt capture

Pros

• User-friendly interface
• Streamlined workflow
• Receipt scanning
• Support mobile app

Cons

• Limited advanced features
• Integration issues
• Not an ideal platform for freelancers and small businesses

Platform Availability

• Android, iOS, and Web

5. Everlance

Everlance is the top-rated choice for businesses with a high travel orientation. It can track mileage and costs. One key feature is its integration with popular apps like Uber and Lyft, making it easier to import receipts automatically.

This accounting software simplifies auditing and tax filing by classifying business and personal trips. It also helps generate logs that meet IRS requirements.

It’s easy to link a bank account or credit card to the professionals. Additionally, they can create a comprehensive report in PDF or CSV files.

Key Features of Everlance

• Comprehensive reports
• Capturing receipt details
• GPS-based logging
• Audit protection
• IRS-compliant mileage log

Pros

• Focusing on tax deductions
• User-friendly interface
• Providing a specialized toolset

Cons

• Specific to the US dollar currency
• Limited features

Platform Availablity

• iOS and Android

6. Fyle

Fyle always provides AI-powered expense categorization that automatically categorizes and codes expenses. Travel-oriented businesses can track their mileage.

This accounting software helps users collect receipts 5x times faster. Users can experience real-time receipt capture and seamless integration. This expense management application provides expense approval automation and enables approvers to approve reports with a single click.

It offers a deep email integration feature that makes it easy for users to create expenses directly from receipts within their email inbox. This platform is compatible with Gmail and Outlook.

Key Features of Fyle

• Real-time analytics to track all the spending in real time
• Tracking all advance payments through advanced management
• Expense splitting
• Email-based expense capture
• Currency conversion
• Automated reminders for employees and managers

Pros

• Automated expense tracking
• 24-hour customer service
• Third-party integrations
• Bulk expense submission

Cons

• Incorrect mileage calculation in some cases
• International reimbursements are limited
• Include learning curves

Platform Availability

• iOS, Android, & Web

7. QuickBooks Online

QuickBooks is another platform for tracking small business expenses that streamlines the expense management process. Small business owners can manage their end-to-end financial actions, including invoicing, payroll processing, and tax deductions.

Apart from these, professionals can also manage inventory and mileage tracking. Professionals can easily manage their expense categories for better spending management.

Key Features of QuickBooks Online

• Automatically sorts expenses
• Time tracking
• Live bookkeeping to connect with experts
• Inventory management
• Mileage tracking
• Real-time business reporting
• Profitability is used to determine which project offers value

Pros

• Integration capabilities
• Accounting reports
• Device-independent and easy-to-access

Cons

• Lack of industry-specific features
• Data backup
• Limited customer support

Platform Availability

• Android, iOS, and Web

8. SAP Concur Expense

SAP Concur Expense is another leading expense management solution for big companies. It helps companies to automate their expense reporting, reimbursement, and approval. This cloud-based accounting software is highly scalable and features robust compliance capabilities, making it ideal for large companies.

Its mobile application again provides a receipt submission feature, through which users can submit a photo of a receipt and create an expense report. Additionally, it also supports an integration with corporate credit cards that automates.

Key Features of SAP Concur Expense

• Receipt capturing and categorization
• System integration
• Currency conversion
• Multi-language
• Multi-currency support
• Employee reimbursements
• Bank and credit card integration
• Third-party integration support

Pros

• Cost reduction
• Create expense reports automatically
• Centralized control
• User-friendly interface
• Third-party integration

Cons

• Limited offline functionality
• Highly complex setup
• Include learning curves

Platform Availability

• Android, iOS, and Web

9. Ramp

Ramp is another expense management platform that helps manage expenses and streamline overall financial actions. It’s ideal for startups and mid-sized businesses. From a single platform, professionals can manage all financial actions.

Ramp expense software offers a smart corporate card system. Under this system, businesses can issue unlimited virtual cards to employees for business expenditures with a spending limit. The transaction associated with the ramp card is automatically tracked and categorized.

Additionally, they can gain visibility into spending, which helps them make the right decisions on expenditure.

Key Features of Ramp

• Integrated reimbursement
• Accounting automation
• Smart corporate card
• Automated expense management
• Real-time spend controls
• Real-time reporting
• Subscription and vendor management
• Scalability

Pros

• Easy and fast setup
• User-friendly interface
• Transparent pricing
• Scalable

Cons

• Its focus is more on the USA
• Limited support for cash reimbursements
• Some features are limited to the basic plan

Platform Availability

• Android, iOS, and Web

10. Xero

Xero is another expense management software that makes expense management easier. Professionals can avail of real-time tracking, automated workflows, and mobile access. Xero is the best expense-tracking app for small businesses.

Professionals can easily attach a photo of the receipt directly to the transaction, reducing the headache associated with lost physical paper receipts. Approving authorities can approve the expense after reviewing the receipt, enhancing the reimbursement process.

For its security, Xero uses two-step authentication, bank-level encryption, and regular data backups, which keep user data safe in the cloud.

Key Features of Xero

• Multi-currency support
• Real-time reporting and visibility
• Uploading a receipt photo through a mobile app
• Connecting business bank and credit card accounts
• Built-in compliance tools

Pros

• User-friendly interface
• Cost-effective solution
• Scalable
• Third-party integrations
• Unlimited users

Cons

• Learning curves
• Performance issues
• Response delay during customer support

Platform Availability

• Android and iOS

How to Choose a Business Expense Tracking Software?

Choosing the best expense-tracking software is a strategic task for business professionals. Here are the key points to consider when finalizing the expense tracking application:

User Interface

Software with a simple user interface enhances the user experience and maintains a satisfactory level of user engagement. Therefore, the user must choose software with a good user interface. As software serves users, it must have easy navigation so that users can easily navigate to the right destination while managing expenses.

Integrations

The business expense tracking software should provide third-party support and easily integrate with other software. This integration simplifies the information transfer.

Automation

Most expense-tracking applications offer automation, which simplifies the overall workflow. Users can save time and complete their processes more quickly. Therefore, professionals should look for the concept of automation.

Reporting & Analytics

The app should keep track of business expenses and provide a reporting option to analyze the overall expense overview. Additionally, users must opt for software that offers a customized reporting option, which makes it easy for them to analyze the report as needed.

What Is the Working Process of Business Expense Tracker?

The workings of a business expense tracker are similar to those of a general software application, where users need to sign up with their details and create an account. This sign-up is straightforward.

Once the user signs up and logs in to their account, the software enables them to link their bank details or a credit card. This simplifies their cost control by automating the real-time tracking of spending and cash flow.

An expense tracker like Moon Invoice helps categorize expenditures, making it easier to streamline expenditure management. This helps professionals determine which category is consuming the most expenditures, allowing business professionals to make better spending decisions.

Efficient Expense Management With Moon Invoice

Managing your expenses becomes simple and fruitful when you choose the right software, like Moon Invoice. This perfect software helps you manage all expenses using digital concepts and automation.

Professionals can have better insights into cash flow and spending. Thus, it is easy to control overspending by viewing the clear details. The concept of categorizing expenses is very helpful for users to gain a better understanding and manage their expenditures.

Moon Invoice has incorporated a receipt scanning feature that helps users scan receipts from their mobile devices. This enhancement boosts expense creation while reducing manual efforts.

Moon Invoice provides an end-to-end expense management solution, from creating a digital expense to sending the final invoice.

Ending Words

Business expense tracking applications are not just a platform but a true teammate in your business. As expense management is a very important financial activity, professionals must manage it wisely to keep a close eye on individual spending.

However, choosing the right expense-tracking application is another crucial point. Consider all the favorable factors that can level up expense management. With the right expense software, you can win the expense game and keep your business on track for success.

Frequently Asked Questions