Expense tracking can often seem to be an afterthought, especially if you travel frequently. Yet it can be a necessary part of owning a small business, if you want to take advantage of tax laws and avoid potential trouble with the IRS. Now that most of us are carrying smartphones, expense tracking has arguably never been easier. Here are 10 business expense apps that can help make expense tracking much less painful.
1. Mileage Log+
If you travel often by car for your business, Mileage Log+ might be a helpful app for tracking your mileage and expenses. The iOS app was designed with IRS compliance in mind, and does some nice things for quickly entering frequent trips. You can also sync and backup your data with Dropbox.
Expensify is a popular iOS app for tracking business expenses, used by over 300,000 companies and 2.5 million individuals. Expensify captures receipts, tracks time and mileage, as well as quickly creates expense reports. The app has built-in SmartScan technology that, like Evernote, is able to find text in pictures. Taking a picture of your receipt means that Expensify can read the image as well, quickly creating the expense.
Concur (iOS, Android, Windows) is a comprehensive time tracking and travel app that allows you to capture, manage and track business receipts, approve expense reports, itemize hotel charges and approve travel requests, to name a few features. The app also boasts some nifty features for managing travel: You can book airfare and hotels, check in on car and flight itineraries, check flight status and more. Concur only has a 30-day trial before you’ll have to purchase one of its plans, starting at $8/month.
MoneyWise is more of a universal money management application for Android. Create budgets, monitor cash flow and track expenses on the go. While it’s not a business-only app, it’s still a handy expense and cash flow tracker. MoneyWise is a free app, and has gotten 4/5 stars from over 6,500 users (at press time).
Cashbook may not win any awards for the prettiest app in the world, but it gets the job done for many Android business owners. It’s actually quite robust in terms of features offered. Some notable features include tracking mileage by GPS, backing up to Dropbox, making expense charts and graphs, filing reports, a timer, calculator and more. Cashbook costs $5.99 in the Google Play store for Android.
6. Expense Manager
Expense Manager is an Android app that not only tracks expenses and budgets; it provides a clean interface to quickly add expenses, and has some other useful bells and whistles like the ability to add payment reminders, take pictures of receipts, schedule payments and more. The app uses Google Drive to back up data for peace of mind. Probably the most impressive thing about Expense Manager is that the app is currently being used on 1 million to 5 million phones at the time of this writing.
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