Most expense-tracking applications offer automation, which simplifies the overall workflow. Receipt Scanning – The software features a receipt scan function that helps users scan sales receipts and extract data. This expense tracking application is committed to providing a neat and clean approach to managing expenses without errors. If manual reconciliations are slowing your team down, automation should be a priority. If compliance is inconsistent, focus on platforms with real-time policy enforcement. Match the solution to the problems you need to solve, not just a feature checklist.

Excel: The old fashioned, tried-and-true approach to expense tracking

The Pro Plan costs $12 per user per month when you pay annually (if you pay monthly, it costs $14). You have to sign up for this plan if you want to set spending policies or reconcile card transactions automatically. They make it easier to track expenses for tax deductions, accounting, and monitoring cash flow. If you work remotely, or regularly have meetings in different parts of the country, you know post-trip expense tracking is a nightmare. Using Expensify means you can stop stuffing receipts into your luggage while you’re on the go.

• You can also create custom expense rules and flag certain purchases that need manager approval.
• Plans start at $12 per user, per month, which could get a bit pricey if you have a larger company.
• Another important factor to consider is how well the expense tracker integrates with other tools you use.
• Below is a comparison table of the top expense management platforms based on multi-currency support, travel expense management and integration options.
• You can set up multi-level approval workflows based on roles, departments, amounts, or projects.

Finally, be sure to choose a tool with a mobile app for convenience when you’re on the go. For this, set up automated notifications within your expense management software that remind employees of upcoming submission deadlines. For example, if reports are due on the 5th of each month, send reminders a week before to ensure compliance. Even if they manage to submit them before the end of the month, it’s a lot of work for finance teams to review and process approvals. It allows you to issue credit cards with custom limits and approval policies tailored to employee roles.

If you’re only looking for expense software, Rippling may feel like overkill. QuickBooks Online allows you to snap receipt photos via its mobile app and automatically match them to imported transactions. You can also connect multiple bank or card feeds and use categorization rules for streamlined reconciliation. This means you must pay your balance in full each billing cycle—no minimum payments or interest, and no preset spending limit. Concur is built for enterprise use, and its interface and setup can feel overwhelming.

Based on user reviews, pricing may vary depending on number of users, cards issued, and modules activated (invoices, reimbursements, etc.). The company generates revenue through interchange fees on Ramp-issued corporate cards. Pricing may increase if you don’t use the Expensify Card (higher rates on Control plan), and pay-per-use fees apply for extra users over agreed limits. Sudden billing switches (e.g. annual vs monthly cycles) have caught some teams off-guard. Some users have also reported being billed without clear in-app warnings.

The Best Business Expense Trackers Of 2025

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. You should track all your business expenses for better financial management. Some key categories include rent, inventory, travel, and office supplies.

When looking at your small business’s finances, income is only half the equation. Expenses make up the other half—and they can quickly take your operation into the red if you don’t have a clear understanding of where your business’s money is going. It makes sense to question the security of an app that asks you to connect your business bank accounts and credit cards. Look for security features like two-factor authentication, firewall barriers, and data encryption.

It offers a range of free features that can help you manage your business finances without breaking the bank. Unlike some competitors, Wave doesn’t charge for basic accounting features, which is a huge plus. If your work often involves travel, you might want to consider Expensify.

• It has a super simple interface and basic reporting so you can see where your profit and loss stand at a glance.
• FreshBooks – This is a well-known expense management app that offers advanced features to help businesses streamline their expenses.
• As you make more frequent transactions, automating approval workflows will save you a ton of time.
• In addition, such late submissions negate the benefit of gaining visibility into employee expenses.
• Expenses make up the other half—and they can quickly take your operation into the red if you don’t have a clear understanding of where your business’s money is going.

It offers a range of features, including receipt scanning, expense small business expense tracking reporting, and integration with accounting software like QuickBooks and Xero. The SmartScan feature allows users to take a photo of a receipt, and the app will automatically extract the necessary information. With Navan, employees can book trips, use company cards, and submit receipts in one place. It also offers AI-powered features like real-time policy enforcement, automated categorization, and instant card issuance.

FreshBooks expense tracking simplifies your business finances with easy expense and receipt tracking. Upload and organize your expenses, track your mileage with the mobile app, and integrate everything you need for effortless tax filing. Try FreshBooks free to start tracking your expenses for accurate and efficient financial management.