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#Best apps for tracking business expenses on android manual

This allows you to roll-out a single platform to capture expenses and book travel to your team, and wrap policies directly into the tool to enhance compliance. Second, and most importantly, we offer an all-in-one travel and expense management solution, not just expense management. First, TravelBank works with all company cards, not just one, and customers aren’t penalized for not using a certain card. TravelBank offers a clear advantage over Expensify. Additionally, it does not offer a travel management component and relies on integrations with other managed travel companies. For non-card users, the pricing is very high. Expensify is known for its poor customer support, a very light touch account management team, and aggressively pushing their corporate card on its customers.

The receipt scanning portion of the app is very accurate and it integrates with accounting, human resource management systems, and travel platforms. Expensify offers a user-friendly platform with an in-house corporate card to simplify policy compliance and reconciliations. Additionally there are time and cost savings associated with automation of expense reporting. Finance teams benefit from more accurate data and reconciliation thanks to features like general ledger sync, and due to the user-friendly platform, expense submission is more timely and accurate. In comparison, TravelBank integrates expense and travel policies into one platform and makes it easy to keep guidelines current and ensure employee compliance. Due to the inability to put in controls poor policy compliances and additional work for the finance team is an absolute weakness.

#Best apps for tracking business expenses on android manual

While the spreadsheets can be customized, they leave lots of room for human error thanks to the manual data entry component. It is still leveraged by SMBs that don’t want to spend money on an expense management tool. Excel is the lowest cost option available, but it requires a good amount of manual lift.

In the meantime, here’s a quick comparison of the strengths and weaknesses for some of the most popular expense management options on the market today for small-to-midsize businesses (SMBs).

Travel expense management functionalityįor an in-depth review of features for your evaluation committee to consider when looking into an expense tracking app and other tips, check out our post, Making the Leap to Managed Travel: Buying Process Considerations.

Sync with personal and corporate cards and banks.

Fast and instant receipt scanning ability.

Here are the nine top features your business expense app evaluation team should think about: If you have yet to implement a business expense tracking app, or are looking to change providers, it’s important to understand the available features and review the strengths and weaknesses of what is available in the market today. What Features Should a Business Expense Tracking App Have? You may also invite managers to automate approvals and reimbursement, or simply use it as a business expense tracker for tax purposes. Your team can capture receipts on-the-go and we’ll automatically scan them into expenses. TravelBank, for instance, offers an intuitive app that manages business expenses and travel needs.

The technology then organizes the data and transforms it into reports that can be saved, sent for approvals, or analyzed by finance teams. Typically the tracking technology is available in both mobile and desktop versions, and enables employees to capture receipts and track expenses on-the-go. How Does an Expense Tracking App Work?Ī business expense tracking app allows for the upload of receipts, as well as expense and mileage recording. Business expense tracking apps are reporting tools that assist in streamlining finances by simplifying expense documentation, receipt capture process, reporting, and approvals. However, finding a good business expense tracking app is hard! You need to consider what features are essential for your company, pricing, implementation, and ease of adoption across your organization. Fortunately, business expense tracking apps are available to not only make it easier for your employees, but also help improve visibility into company spend and can help reduce costs. While far from a walk in the park, making sure your team keeps track of receipts and expenditures, files expense reports in a timely manner, and properly allocates purchases is essential for accurate operations and budget forecasting. Staying on top of expenses and having visibility into corporate spend can be one of the biggest challenges to your business.