Top Business Expense Tracker Apps of 2024
When it comes to business expense tracker apps, there are a variety of options available. Here are the top 10 business expense trackers of 2024, each with their own unique strengths and capabilities:
- Zoho Expense: Best overall, with features like automated expense tracking and approval workflows.
- Fyle: Best for automating credit card expense management, with features like receipt submission through text messaging and real-time feeds on business credit cards.
- Rydoo: Best for global expenses, with multi-currency support and integration with popular travel booking platforms.
- Emburse Certify: Best for virtual expenses, with the ability to capture receipts and track expenses from anywhere.
- QuickBooks Online: Best for all-in-one accounting, with expense tracking integrated into a comprehensive accounting platform.
- FreshBooks: Best for freelancers, with features like time tracking and project management in addition to expense tracking.
- SAP Concur Expense: Best for a customized solution, with the ability to tailor the platform to your specific business needs.
- Expensify: Best for dedicated expense cards, with the ability to automatically import transactions from corporate credit cards.
- Everlance: Best for tracking tax deductions, with automatic mileage tracking and integration with tax preparation software.
- Shoeboxed: Best for paper receipts, with the ability to scan and digitize paper receipts for easy expense tracking.
- Emburse Abacus: Best for easy reimbursements, with features like automatic approval workflows and direct deposit reimbursement.
No matter what your business needs are, one of these top business expense tracker apps is sure to meet your needs and make expense tracking a breeze.
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Our team has conducted extensive research to identify the top 10 best business expense tracker apps. We evaluated each app based on a range of criteria, including pricing, available features, customer ratings and reviews, and expert scores. Our ratings are determined solely by our editorial team and reflect our commitment to providing you with accurate and reliable information to help guide your business journey.
You can trust Forbes Advisor Small Business to deliver impartial and insightful content that will help you make informed decisions about your business expenses.
Best Overall Pick
Zoho Expense
If you’re looking for a comprehensive expense tracking solution that won’t break the bank, Zoho Expense is a top contender. With a free plan that includes automated expense reporting and purchase requests, as well as direct deposit reimbursements, Zoho Expense is a great option for small businesses or freelancers who want to keep track of their expenses without spending a dime.
For more advanced functionality, Zoho Expense offers plans ranging from $2 to $12 per user per month. These plans include features such as custom expense rules, multicurrency support, and advanced customization options. Zoho Expense also integrates with all major accounting solutions, making it easy to keep your books up to date.
One of the standout features of Zoho Expense is its ability to create more than 25 reports based on your spending, travel, credit cards, and more. This allows you to stay on top of your expenses and make informed decisions about your business. However, it’s worth noting that the free plan does have some limitations, including a 5 GB limit on receipt storage, 20 receipt auto scans per month, and a maximum of three users.
Overall, Zoho Expense is a powerful and user-friendly expense tracking solution that won’t break the bank. Whether you’re a small business or a freelancer, Zoho Expense has everything you need to keep track of your expenses and stay on top of your finances.
Best Business Expense Tracker App for Automating Credit Card Expense Management
Fyle
Fyle is a great option for organizations looking to streamline their business credit card expenses. It directly integrates with Visa and Mastercard to give real-time text notifications for all credit card spending. Fyle also automates receipt management by letting employees submit receipts through text messages, email, Slack, and other everyday channels.
What’s more, Fyle automates compliance through automated policy and compliance checks. Expenses are checked against company policy right at the source of their creation, and any non-compliant expenses are flagged automatically. This ensures you’re always audit-ready while keeping expense fraud at bay.
The base plan starts at $6.99 per active user per month, and business and custom pricing plans are also available.
Pros:
- Receipt submission through text messages
- Easy reimbursement through Automated Clearing House (ACH)
- Real-time feeds for Visa and Mastercard
- Automated Credit Card Reconciliation
- Issue American Express Virtual Cards right from Fyle
Cons:
- There’s an associated learning curve for new users.
Best Business Expense Tracker App for Global Expenses
Rydoo
If your company frequently conducts international business, Rydoo may be the ideal expense management solution for you. With Rydoo, you can easily approve or deny expenses from the app or use an automated approval flow based on rules you set. One of Rydoo’s unique features is its ability to track mileage and tax rates for specific countries and regions, making it easier to handle expenses no matter where your employees are located.
For instance, if your employees are traveling abroad, you can provide them with per diem rates based on over 20 jurisdictions. They can also upload receipts on the go with the mobile app, which will extract all key data automatically. If they receive an electronic receipt, they can forward it to Rydoo to have the expense added.
Another useful feature of Rydoo is its insight reporting, which shows you where you are overspending and identifies cost-saving opportunities. However, plans start at $12 per user, per month, which could be expensive for larger companies.
Pros:
- Real-time expense tracking
- Streamlines reimbursement cycles
- Automated expense approval
- Supports United States dollar (USD), euro and British pound
Cons:
- Max of 15 pages for PDFs or receipts
- Scanning isn’t always accurate
Overall, Rydoo is recommended for companies that do a lot of international business and require multicurrency capabilities and per diem rates.
Best Business Expense Tracker App for Virtual Expenses
Emburse Certify
If your company has a lot of virtual expenses, Emburse Certify is the best option for you out of this list of business expense tracker apps. This software features automatic report creation, streamlined approvals, and built-in policy controls. This means that employees can spend based on preset guidelines, and you don’t have to waste time reviewing expenses. One unique feature of Emburse Certify is the ability to issue virtual cards for expenses, eliminating the need for employees to pay out of pocket and wait for reimbursement.
Certify categorizes all of your receipt data automatically by extracting up to 15 expense fields. While the easiest way to upload is using the app, you also have 10 other ways to capture and upload receipts. It also remembers which businesses you’ve categorized, so if you go there again, it will associate that vendor automatically with the correct category.
Emburse Certify supports over 140 currencies and 64 languages, making it a great option for companies with international employees or clients. The software also offers automated clearing house (ACH) reimbursement, unlimited cloud receipt storage, multiple user roles, and custom categories.
The base plan, Certify Now!, is available for one to 25 employees at $12 per user, per month. However, there are also Professional and Enterprise plans with customized fees for more users.
Pros:
- Virtual credit card feature for virtual expenses
- Supports over 140 currencies and 64 languages
- Automated clearing house (ACH) reimbursement
- Unlimited cloud receipt storage
- Multiple user roles
- Custom categories
Cons:
- Lack of workflow management tools
- No free version
- Receipt backup not available in Certify Now! plan
Whether you’re a small business or a large corporation, Emburse Certify can help you manage your virtual expenses efficiently and effectively.
Best Business Expense Tracker App for All-in-One Accounting
QuickBooks Online
When it comes to all-in-one accounting software, QuickBooks Online is a top contender from our list of business expense tracker apps. With great expense tracking features, it allows you to sync your bank, credit card, and other online accounts so that expenses can be imported automatically. You can also create custom rules to categorize these expenses and run reports to see where your money is going.
If you prefer to scan your receipts traditionally, QuickBooks Online has got you covered too. You can snap a picture on your phone, and QuickBooks will link it to the transaction. It also has functionality for freelancers who need to submit expenses to clients, with the ability to attach receipts directly to invoices.
QuickBooks Online offers different plans to choose from, starting at $30 per month for the Simple Start plan, which includes one user. To get unlimited reports-only users and time tracking users, you’ll need to upgrade to the Essentials, Plus, or Advanced plans for $55, $85, or $200 per month, respectively. All of these plans are available at 50% off for the first three months during Intuit’s current promotion.
Here are some pros and cons of QuickBooks Online:
Pros:
- Unlimited reports-only and time tracking users
- Built-in cash flow statement
- Automated recurring expenses
- Up to 40 tag groups for expenses
Cons:
- Maximum of 25 unique users
- Reimbursement only happens through payroll
QuickBooks Online is an excellent choice for larger businesses that need more functionality out of their software. With its robust features and easy-to-use interface, it’s worth considering for all-in-one accounting needs. For more information, you can read our full QuickBooks Online review.
Best Business Expense Tracker App for Freelancers
FreshBooks
FreshBooks is a great expense tracking tool for freelancers who want to handle their invoicing needs. With FreshBooks, you can easily connect your credit card and bank accounts to ensure that all your expenses are updated automatically. You can also upload paper receipts through the app or email digital receipts to have them scanned and processed automatically.
FreshBooks offers 14 default expense categories and more than 40 expense subcategories, but you can also create your own custom categories to suit your needs. For each expense, it’s easy to mark it as billable and pull it directly into an invoice for clients. You can also send out automated payment reminders until your reimbursement comes through.
FreshBooks pricing starts at $17 per month for the Lite plan, which includes five billable clients and unlimited expense tracking. The Plus plan, priced at $30 per month, increases the number of billable clients to 50, while the Premium plan, priced at $55 per month, offers unlimited billable clients. The Lite, Plus, and Premium plans are available at 75% off for the first three months during the current promotion.
Pros:
- 14 default expense categories
- Multicurrency support
- Assignable recurring expenses
- Unlimited billable clients
- Free accountant access
Cons:
- $10 a month for each additional team member
- No workflow management tools
- No in-app reimbursement
Overall, FreshBooks is an excellent tool for freelancers who want to track expenses for billing clients. Its invoicing capabilities and automated payment reminders make it a standout option in the market.
Best Business Expense Tracker App for a Customized Solution
SAP Concur Expense
If you are looking for a fully customizable expense tracking solution for your business, SAP Concur Expense is a great option. This solution offers automated expense capture, including receipt uploads and report processing. However, its most significant advantage is its ability to create a personalized travel and expense policy to fit your business’s unique needs.
To create a customized policy, you will need to answer six questions related to flights, mileage, rideshares, hotels, meals, and exceptions. Your responses will then be used to generate a personalized expense policy template that you can incorporate into your corporate documentation.
SAP Concur Expense also offers additional solutions that can make travel easier. For example, Concur TripLink lets you track outside bookings in your managed-travel program, while ExpenseIT allows you to match receipts to card charges to speed up reimbursement. You can scan receipts through the app or email them in seven different file formats.
Businesses that want to customize their expense tracking will appreciate SAP Concur’s personalization options. However, keep in mind that you will need to speak to a representative for a price quote.
Pros
- Expense capture works on airplane mode
- Expense Assistant automates reporting
- Automated currency exchange rates and value-added taxes
- Reimbursement through app
Cons
- Need to talk to rep for price quote
- Receipts limited to nine pages
- Only three pages of receipts are analyzed
Best Business Expense Tracker App for Dedicated Expense Cards
Expensify
Expensify is a great option for businesses or freelancers who want a free business card that integrates with the app. The app offers unlimited receipt tracking and expense management with a free plan, making it a great option for most businesses. Expensify also offers one-click receipt scanning and credit card transaction imports, making it easy to keep track of all your expenses.
One of the key features of Expensify is its multilevel approval workflows, which allow you to customize your expense policy rules and automatically flag expenses that need a manager’s approval. This feature helps keep your expenses organized and ensures that all expenses are approved by the appropriate person.
Expensify also offers the ability to import general ledger (GL) codes from your accounting software of choice and then tag them accordingly, making it easy to keep track of all your expenses in one place. Additionally, Expensify offers two free plans for freelancers and two paid plans for businesses, including the Collect plan at $5 per user per month and the Control plan at $9 per user per month.
Pros:
- Discounts for using the Expensify Card
- Separate business and freelance plans
- Tax tracking capabilities
- Custom reporting
- Multicurrency support
Cons:
- Expensive if you don’t use the Expensify Card
- Free plan limited to 25 auto scans a month
- Poor Trustpilot and Better Business Bureau (BBB) ratings
Overall, Expensify is a great option for businesses or freelancers who want a free business card that integrates with the app and offers unlimited receipt tracking and expense management. With its multilevel approval workflows and ability to import GL codes, Expensify makes it easy to keep track of all your expenses in one place.
Best Business Expense Tracker App for Tracking Tax Deductions
Everlance
If you are looking for business expense tracker apps that offer unlimited receipt uploads, Everlance is an excellent choice. Even on the free plan, you can upload as many receipts as you want, which is a great feature if you deal with a lot of purchases. Additionally, the app allows you to sync your credit card to track all purchases automatically.
One of the unique features of the app is the deduction finder, which automatically scans all your expenses and creates a list of the ones you may be able to deduct on your taxes. This feature can be extremely helpful for both businesses and freelancers, especially if you are mainly tracking expenses to deduct on your taxes.
Everlance offers separate apps for businesses and freelancers, allowing you to personalize your experience. The business app includes a manager approval process workflow, while the freelance app focuses primarily on mileage expense tracking. Both apps let you download IRS-compliant Excel and comma-separated values (CSV) file data exports for your taxes.
The free plan should be more than enough for most users, unless you want to add on mileage tracking and fixed and variable rate programs. Paid plans start at $10 per user, per month, for businesses, and $5 per user, per month, for self-employed workers.
Pros:
- Separate business and freelance plans
- Unlimited receipt uploads on free plan
- Unlimited users
- Robust mileage expense tracking
- Downloadable reports
Cons:
- Only 30 automatically detected trips per month on free plan
- Focus is mainly on mileage tracking
- Only supports USD
Overall, Everlance is an excellent choice for anyone looking for an app to track tax deductions. With its unique deduction finder feature, unlimited receipt uploads, and separate apps for businesses and freelancers, it is a powerful tool for anyone who wants to keep track of their expenses and maximize their tax deductions.
Best Business Expense Tracker App for Paper Receipts
Shoeboxed
Shoeboxed is a great option for those who need to digitize a backlog of paper receipts. With Shoeboxed, you can fill a Magic Envelope with all of your paper receipts and have them scanned and digitized for you. This feature can be especially useful when it comes time to organize all of your receipts for tax purposes.
Shoeboxed offers three different pricing plans. The Start up plan, which costs $22 per month ($18 per month during the current promotion), offers just 50 digital and 25 physical documents per month. The mid-tier plan, which costs $45 per month ($36 per month during the current promotion), caps out at 150 digital and 150 physical documents per month. The most expensive plan costs $67 per month ($54 per month during the current promotion) and allows for 300 digital and 300 physical documents per month. This plan is not recommended for large businesses with a high volume of expenses.
All receipt images are scanned and meet both IRS and CRS audit standards. After being uploaded, all of your receipts are searchable and able to be converted into expense reports right from the app.
Who should use it:
If you have a backlog of paper receipts that you need to digitize, Shoeboxed is a great choice for you.
Pros & Cons
Pros:
- Unlimited file storage
- Unlimited users
- Human-verified data
- Auto-import receipts from Gmail
Cons:
- Max of 300 digital and paper receipts per month
- No workflow approval or management tools
- No reimbursement from app
Overall, Shoeboxed is a great option for those who need to digitize paper receipts. While the pricing plans may not work for larger businesses, the app’s scanning and digitizing features make it a top choice for those with a backlog of paper receipts to organize.
Best Business Expense Tracker App for Easy Reimbursements
Emburse Abacus
If you’re looking for a platform that makes it easy to reimburse your employees, Emburse Abacus might be the perfect fit for you. With Abacus, your employees can submit their expenses directly from the app or web, and you can issue reimbursements right from the app with an ACH transfer. Employees should receive their funds about three business days later.
One of the standout features of Abacus is the ability to connect personal or corporate cards, making it easier to track expenses. After uploading a receipt, the app creates an expense automatically, and over time, it can even learn from your behavior to suggest merchants and categories automatically.
Abacus also offers a range of customization options, including program rules, budgets, daily limits, and granular auto-approve rules. You can even forward certain types of expenses automatically to the appropriate project manager based on specific criteria. And if you need to communicate about expenses with your team, there’s an in-app chat feature that lets you do just that.
Unfortunately, pricing is only revealed through a customized quote, so it’s hard to say if the app is a good value for you or not. However, there are plenty of other benefits to using Abacus, including full audit trails for all expenses, continuous sync to accounting software, and real-time views of reports and corporate spend.
Overall, if you’re looking for a platform that makes it easy to reimburse your employees and offers plenty of customization options, Emburse Abacus is definitely worth considering.
Methodology
Pricing
To determine the best business expense tracker apps, you need to consider pricing. Our team evaluated whether the service offered a free trial, how low its starting price was, and the range of costs between its lowest and highest tier price. We ranked those that offered a free version higher in our rankings, as well as those whose starting price was within an affordable or moderate range. Pricing accounts for 10% of the total score.
Features
The features of an expense tracker app are crucial in determining its usefulness. Our team of experts considered whether the app allowed unlimited users, receipt upload, and direct reimbursement from the app. We also looked at workflow management tools, workflow approval, and multicurrency support. These features are considered essential for every app, either as part of its plan or available as an add-on. Additionally, we looked for unique features, such as integration with accounting software and automation functionality. Features account for 50% of the final score.
Third-Party Reviews
Real user opinions are essential when evaluating the best business expense tracker apps. We considered the number of reviews from the App Store, G2, and Capterra, looking for positive reviews that numbered at least 200. We also calculated how many of those reviews were higher than 3.5 stars out of 5. Third-party reviews make up 10% of the final score.
Expert Analysis
Our experts analyzed essential metrics, including popularity, value for the money, ease of use, and stand-out features, to determine the best business expense tracker app. By crunching the numbers, we could calculate which app came out on top. Expert analysis accounts for 40% of the total score.
How to Choose a Business Expense Tracker App
When selecting an expense tracker app, there are several key factors to consider to ensure that you choose the right app for your business needs. Here are some tips to help you make an informed decision as you look through our list of business expense tracker apps:
Price
One of the most important considerations when choosing an expense tracker app is price. If you are a smaller business or freelancer, you may appreciate free or lower-cost options. However, if you are a more established business that requires more potent capabilities, it could be worth your while to choose a tracker that costs a little more. Keep in mind that many of these apps charge per user, so what might seem like an affordable plan could add up to much more if you have dozens of users.
Functionality
Functionality is another important concern when choosing an expense tracker app. If you have numerous employees submitting expenses constantly, having automated workflow tools that let you set auto-approval rules can save you tons of time. If you do a lot of overseas business, you may value multicurrency support more highly. Look for an app that provides the features and tools you need to streamline your expense tracking process.
Integrations
Integrations are another vital thing to consider when selecting an expense tracker app. Having an expense tracker that integrates with your existing accounting software can simplify your life as it means you won’t have to spend hours transferring data between programs. For some businesses, it may even make sense to choose an all-in-one solution that features expense tracking as part of an accounting software package.
By taking these factors into account, you can choose an expense tracker app that meets your business needs and helps you streamline your expense tracking process.
Frequently Asked Questions (FAQs)
What is the best app for tracking expenses?
If you’re looking for a powerful expense tracker app, Zoho Expense is our top pick among these business expense tracker apps. It offers a range of features that cater to both small businesses and self-employed individuals. The best part is that it doesn’t require a monthly plan, so it’s a great option for those on a budget.
How do small businesses keep track of expenses?
Many small businesses prefer to use an expense tracker to keep track of their expenses. This makes it easier to reimburse employees quickly and to keep track of where the business is spending its money. An expense tracker also helps small business owners to maintain accurate financial records, which is important for tax purposes.
Does the IRS require receipts for business expenses?
Yes, the IRS requires proof of receipts if you want to deduct business expenses. It’s important to keep all receipts and other documentation related to your business expenses organized and easily accessible. This will help you to remain IRS-compliant and avoid any potential issues during tax season. If you need assistance with filing your taxes, we recommend checking out our picks for the best tax software.
Which business expense tracker app provides the most comprehensive features for tracking business expenses?
There are several apps available that offer comprehensive features for tracking business expenses. Some of the most popular ones include QuickBooks, Expensify, and Zoho Expense. These apps offer features such as receipt scanning, automatic categorization of expenses, and integration with accounting software.
What are the top free apps for monitoring daily business expenditures?
If you’re looking for a free app to monitor your daily business expenditures, there are several options available. Some of the top free apps include Wave, Shoeboxed, and Receipt Bank. These apps offer features such as receipt scanning, expense categorization, and report generation.
How can small businesses efficiently manage their expense tracking?
Small businesses can efficiently manage their expense tracking by using an app that offers features such as receipt scanning, automatic categorization of expenses, and integration with accounting software. It’s also important to establish a clear expense policy and ensure that all employees are aware of it.
Are there any business expense tracker apps designed specifically for iPhone users?
Yes, there are several expense tracker apps designed specifically for iPhone users. Some of the most popular ones include Expensify, Zoho Expense, and QuickBooks. These apps offer features such as receipt scanning, automatic categorization of expenses, and integration with accounting software.
Can you recommend a reliable business expense tracker app for both income and expense management for businesses?
Yes, there are several reliable apps available for both income and expense management for businesses. Some of the most popular ones include QuickBooks, Xero, and FreshBooks. These apps offer features such as invoice creation, payment tracking, and expense tracking.
What are the benefits of using Zoho Expense for business financial tracking?
Zoho Expense offers several benefits for business financial tracking. It offers features such as receipt scanning, automatic categorization of expenses, and integration with accounting software. It also offers real-time expense reporting and approval workflows, which can help streamline the expense management process. Additionally, Zoho Expense offers mobile apps for iOS and Android, making it easy to track expenses on the go.
Next Up In Business
Looking ahead, businesses are expected to continue adapting to the changing economic landscape. Here are some key areas to keep an eye on:
- Digital Transformation: As technology continues to advance, businesses must embrace digital transformation to remain competitive. This includes utilizing data analytics, AI, and automation to streamline processes and improve customer experiences.
- Sustainability: With growing concerns over climate change, businesses are under increasing pressure to adopt sustainable practices. This includes reducing carbon emissions, minimizing waste, and investing in renewable energy.
- Remote Work: The COVID-19 pandemic has accelerated the trend towards remote work, and this is likely to continue in the future. Businesses must adapt to this new reality by providing the necessary tools and infrastructure for employees to work effectively from home.
- E-commerce: The rise of e-commerce has transformed the retail industry, and this trend is expected to continue. Businesses must invest in online platforms and digital marketing strategies to remain competitive in this space.
Overall, businesses must remain agile and adaptable in the face of ongoing change and uncertainty. By embracing new technologies and trends, and prioritizing sustainability and customer experience, businesses can position themselves for long-term success. This list of business expense tracker apps should help businesses manage their expenses better.
