Business

Top Expense Tracker Apps For Small Business In 2021

Effective business management techniques involve a whole lot of things. One key aspect is tracking your expenses. Tracking your daily expense is vital as it helps you to monitor sales and curb unnecessary costs. It can be difficult doing this manually, but with the help of a simple tool, you can track all expenses. Sometimes, small business owners think using an expense tracker app is of no essence considering that the patronage may not be huge at the moment. Whether it is a startup or you are still planning to launch your business, you need to track your expenses. To guide you on that, I’ll list top expense tracker apps for small businesses.

There are a wide variety of user-friendly applications designed for small businesses. With these apps, you can easily monitor all expense reports, all in one place. This is just a simple way of cutting down the budget and other administrative roles.

You can use different methods to track business expenses, whatever method you choose, just make sure it can do the job for you, which will require that you set up an effective cost tracking system.

What are the best ways of tracking expenses for small businesses?

Tracking expenses for small business is not all that easy. There are some costs incurred that you may not put in records and during account balancing, you will find figures not corresponding. Every legit business must be registered which expects opening an account. That been said, you still need to be financially disciplined and choose the right accounting system that works for you and your best bet is using an expense tracker app for quick and less- tedious work.

When you use the right accounting system, you can easily record events like transaction time, date and amount. If you’re just starting a business and haven’t completely dedicated to your business at this time, you may still need time to learn how to grow your business and implement other management tips. However, for every other person, using an expense tracker app is very important especially if you have more than 15 staff. To start, here are effecting expenses tracker for small businesses.

Top expense tracker apps for small businesses.

  • FreshBooks
  • Abukai
  • Expensify
  • Everlance
  1. FreshBooks

top expense tracker apps for small businesses

Using Freshbook makes the work easy as it removes and gets track of all file folders of receipts. It is a cloud-based system that is synced between mobile and desktop computers.

Small business owners can use it, however; it may require that you have some accounting knowledge to enable you to use the software effectively. Freshbooks is recommended as one of the top expense trackers for small businesses with features like time saving, automatic import of cost. it allows users to connect a bank account and credit card to Freshbook and it automatically imports all your expenses, eliminating the need for manual access.

Amazingly, you can take photos of your receipts, add tax-friendly categories and input crucial details. All data is then added to your data. You can also mark expenses as billing, add your markup and import it into the invoice to send to the client.

Cost: It comes with a 30-day free trial and tiered pricing according to the number of your customers with a starting price of $ 15 per month.

2. Abukai

top expense tracker apps for small businesses

 

 

 

 

Abukai is another powerful expense tracker you can you use on any mobile devices. This expense tracker app imports data from receipt photos categorizes your costs for you and calculates the exchange rate automatically.

As a matter of fact, it performs the whole functions, yours is to apply the setting. It makes things easy for you, as you can scan and save all types of receipts. Abukai allows users take a photo of the receipt and acts as a receipt application by pressing “Submit”, after that, it automatically adds a cost entry with an image of the receipt attached to the class, date, vendor and other critical information.

There won’t be a need for rechecking as this app can read all types of receipts, even foreign receipts accurately. It does advanced currency conversion too.

Cost: It offers free trial 30 days and a corporate plan of $99 per year per user with a $49 one-time setup fee.

  1. Expensify

top expense tracker apps for small businesses

Expensify is an expense application that automatically imports expenses from your bank account and credit card and generates reports. Also, you can use the app to create accounts for your employees so they can report expenses in the app. You can then view and approve the reports and return them to all your employees in the application.

Aside from that, it has an automated SmartScan Receipt Scanner software that allows you to take a photo of the receipt and the app takes care to extract and record all the important details. Another option is to email digital receipts to automatically add costs to an extended email address or use their Chrome extension.

Expensify is among the cheapest expense trackers for small businesses. It costs $5 per month per user.

4. Everlance

top expense tracker apps for small businesses

Everlance is very effective in tracking expenses. You can use it to track your costs and mileage. This free mileage tracker app is 100 per cent automated and also calculates how much you can deduct from your tax according to the current IRS mileage rate.

The ease of use is one of the advantages. It allows users to take photos of receipts and automatically integrate them with your bank account and credit card to import costs.

This app is free for iOS and Android devices, however, to go unlimited, it will cost you 7.99 per month.

 

Conclusion

Using an expense tracker for your business will help you save time and costs. The effectiveness of getting things done at ease is what you should considerwhat as you need not bother of renewals. You can as well try the paid versions of some of these apps or better still go for the cheapest apps.

There’re lots of free and paid expense tracker apps, the prices and features vary. Based on your budget or company size, you can make your choices.

 

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