- Apps For Business Expense Tracking
- Best Business Expense Tracker Mac Apps
- Best Business Expense Tracker Mac App Download
- Small Business Expense App
Best expense tracker apps at a glance. QuickBooks; Rydoo; Expensify; Concur; Hurdlr; Zoho Expense; Pocketguard; Best expense tracker apps 2020 (Image credit: Intuit). Most Popular: Mint. No list of expense tracker apps would be complete without a mention of Mint, one of the best known personal finance tools around. Mint is great because it is free, supports a wide range of banks and lenders, and comes from one of the largest and most trusted names in financial software, Intuit.
Controlling costs is a central task for all businesses, and the job starts with tracking and reporting expenses. A plethora of well-designed expense report apps can help with this essential task. The best simplify collecting data by scanning receipts and importing transactions from debit and credit card statements. They can automate reporting as well as verifying charges and reimbursing employees. Cloud-based apps provide mobile access via smartphones while improving data security. Expense report apps targeting small and midsize businesses are also affordable. Here are the best apps for tracking expenses.
Choosing an Expense Report App
There probably is no expense report app that is best for all businesses. For instance, a business with a traveling sales force will have different expense reporting needs than one without external salespeople. Some businesses need an app that can handle international transactions, automatically converting currencies and recognizing both foreign and domestic tax regulations. Another concern is how well an app integrates with the accounting software a business uses.
Choosing an expense report app starts by looking at individual business practices, processes and needs. Factors for business owners to consider include:
- How many employees will use the app
- Types of expenses that will be processed
- The brand of software used for general accounting
- Technical skills of employees who will use it
Expense Report App Features
A good app will be able to do all the following:
- Capture data from scanned receipts, card statements, payment platforms and mobile wallets
- Organize expenses appropriately by category using rules set by the user
- Securely store data in the cloud where it can be accessed from anywhere
- Allow users to submit expenses and generate reports online
- Create reports to identify expense trends and excesses, cash flow, build budgets and project profit and loss
- Automate processes such as verifying and approving expenses and reimbursing employees
- Be affordable and scalable so it can accommodate the business as it grows
Top Expense Report Apps
The following expense reporting apps are well-suited to small and midsize businesses with typical needs. They are easy to use, accessed through the cloud, offer good reporting capabilities and will fit into most budgets.
Expensify
At only $5 a month, Expensify provides great value as well as robust expense tracking features. There’s also a free trial. Expensify lets users capture receipts by scanning with a smartphone or importing from bank and credit card statements. It tracks mileage automatically using GPS. It automatically detects duplicates and categorizes expenses using rules and integrates with many accounting and management software packages including QuickBooks, Sage and NetSuite. On the downside, Expensify may be more difficult to learn than some of the other apps.
Rydoo
Rydoo users can input expenses by scanning receipts. Expenses can be allocated by trip or project. The app uses Google Maps to handle mileage. It’s well-suited for international businesses with automatic currency conversion and integrates with QuickBooks, Xero and Exact accounting software. At $7 per month per user, Rydoo’s starter package including its core features is an affordable expense tracking solution for businesses with five to 50 employees. Rydoo achieves a high level of ease of use at the cost of some more advanced tracking features.
Zoho Expense
Apps For Business Expense Tracking
Zoho Expense is the likely first choice for businesses already using some of Zoho’s other products and a contender for other businesses as well. In addition to a no-charge trial, it’s free for up to three users, and $5 a month provides unlimited users and extra features. Zoho Expense automatically converts all major currencies and reads scanned receipts in 10 languages. Data can also be captured from card accounts or emailed. In addition to Zoho Books, it integrates with QuickBooks, Xero and other packages. On the downside, mileage has to be manually entered.
QuickBooks Self-Employed
Self-employed people and microbusiness owners who are already using QuickBooks Self-Employed can probably get all the expense tracking they need from the accounting software’s built-in features. QuickBooks Self-Employed imports transactions from bank, credit card and payment systems, sorts them by tax category and allows users to build custom rules for categorizing. It’s got benchmark features like mileage tracking with GPS and using optical character recognition to extract data from scanned receipts. For $7.50 a month QuickBooks Self-Employed provides a broad set of accounting tools in addition to expense tracking and for an extra fee integrates with TurboTax to ease tax filing. Of course, using QuickBooks Self-Employed to track expenses only makes sense if you are using the software for other accounting chores as well.
The Bottom Line
There are a number of well-designed, affordable apps that can help midsize and small businesses track and manage expenses. Cloud-based expense report apps provide security and easy access and features such as receipt scanning and GPS-powered automatically mileage entry reduce the time and energy needed to capture expense data. Most businesses will do well with any of these apps but carefully consider individual business needs before making a choice to increase the chances of selecting a winner.
Tips for Budgeting
- Before choosing an expense report app, consider talking the matter over with an experienced financial advisor. Finding the right financial advisor who fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors who will help you achieve your financial goals, get started now.
- A free budget calculator is an indispensable tool for analyzing and managing business expenses. Also, if expenses exceed revenue, be sure to calculate your burn rate as part of an overall expense management protocol.
Best Business Expense Tracker Mac Apps
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Mileage tracker apps are a valuable tool for both small business owners and their teams. If your operations cause you or your employees to track travel that needs to be reimbursed, billed to clients — or if you want to deduct the expense of business travel on your tax return — the logistics can be a nightmare.
Manually recording time, travel, distance, the purpose of the trip, and receipts into a central location can be cumbersome for even the most organized person. Mileage tracking apps can do all the work for you, store valuable information and make reimbursements or deductions a painless process.
Related: What you need to know about writing off auto expenses
6 best mileage tracker apps for small businesses
While there are multiple mileage tracker apps, we’ve reviewed six of the best. Check out the costs, key features, pros and cons of each app.
- MileIQ.
- Hurdlr.
- QuickBooks Self Employed.
- SherpaShare.
- TripLog.
- Everlance.
A common feature of mileage tracker apps is automatic tracking, which is when an app uses the GPS on your smartphone to automatically track any car ride, and then logs that into your account. You’ll note we’ve explained if the apps include this feature and any specifications. App ratings are based on a five-point star system.
Let’s jump in.
Editor’s note: All features and prices listed are accurate at the time of publication.
1. MileIQ
- Cost
- Basic plan: free, limited to 40 trips per month
- Premium plan: $5.99/month or $59.99/year (paid annually)
- Teams plan: (enterprise) pricing available upon request
- MileIQ is included with Microsoft 365 from GoDaddy, in the Business Premium plan, with pricing starting at $9.99 user/month
- Automatic mileage tracking: Yes
- Key features: Intuitive software learns your regular routes and locations — after minimal setup, the system runs itself
- Best for: Business owners looking for a mileage tracking system to set and forget with robust reporting capabilities, and companies with multiple employees that need to use the same system to track mileage
- App ratings
- Apple: 4.6 with 16,500 ratings
- Android: 4.5 with 49,523 ratings
MileIQ has intelligent software capabilities that recognize frequent trips and allow you to flag regular routes and locations. After you flag or confirm those routes, they’ll automatically be classified. You can also set work hours, including customized shifts. Anytime you drive during those times, miles will be tracked. Hours can be customizable, which is beneficial for owners or employees that work different hours each week.
The main benefit to MileIQ is ease of use — you can set up the app and have it run in the background of your phone.
There’s a simple swiping functionality when reviewing trips: swipe right for business, left for personal. The reporting system is fairly robust and can be accessed via your mobile device or the desktop dashboard.
While the free plan is limited to 40 trips per month, if your business is already using Microsoft 365 from GoDaddy, the premium version of the app is included at no cost.
Paid plans are on par with other options. The enterprise version is meant for teams with multiple employees that need to complete a mileage log approved by an administrator.
A potential drawback could be that the system only tracks miles. If you want a combined expense-tracking program or advanced accounting capabilities, options like Hurdlr might be a better option. Although you can integrate your MileIQ with QuickBooks or Freshbooks.
2. Hurdlr
- Cost
- Basic plan: Free, for single users
- Premium plan: $7.99/month or $59.88/year (paid annually)
- Automatic mileage tracking: Yes, available with a premium plan
- Key features: Integrations with other platforms and apps, the ability to track income and expenses to forecast profits and estimate taxes
- Best for: Freelancers, solopreneurs, real estate agents, or self-employed individuals that want an all-in-one expense tracker
- App ratings
- Apple: 4.7 with 4,100 ratings
- Android: 4.5 with 4,077 ratings
Hurdlr is a full-fledged expense tracker that you can use to track any business expense. This app is beneficial for anyone looking for more than just a mileage tracker. You can also integrate income into the accounting system to estimate taxes (based on expenses versus income).
What sets this app apart are the integrations with popular gig-economy platforms, like Upwork, as well as Airbnb and real estate-specific features.
The company markets themselves to self-employed contractors, freelancers, independent real estate agents and those who make supplemental income via renting homes. One downside is that automatic mileage tracking is not available on the free version.
3. QuickBooks Self Employed
- Cost: Self-Employed QuickBooks account: $10/month
- Automatic mileage Tracking: Yes
- Key features: QuickBooks can serve as your entire accounting software; you can add mileage from your tracker directly to invoices
- Best for: Self-employed individuals or small business owners looking for a mileage tracking app that automatically integrates into their accounting system
- App ratings
- Apple: 4.5 with 13,100 ratings
- Android: 4.4 with 19,108 ratings
QuickBooks offers a self-employed version (SEQB) with the lowest price tag, in comparison to their other business plans that also include mileage tracker apps. The automatic tracker works in the background of your smart device and records your travels via GPS. You can also manually add mileage as well.
The unique selling point with SEQB is the built-in functionality via the accounting platform.
Mileage from the app can automatically populate into your TurboTax account when you’re doing taxes (if you have it connected). You can also download IRS-compliant forms to give to your CPA or accountant.
If you charge clients for mileage, QuickBooks lets you add the mileage directly to a client’s invoice. https://hrmyqmw.weebly.com/delete-postman-chrome-app-mac.html.
SEQB is only meant for one person. If you have employees, you’d be better to check out options like MileIQ enterprise or TripLog. Even for solopreneurs, a potential drawback is that SEQB cannot upgrade to another small business QuickBooks account. So if you plan to expand or add new employees, there might be extra work to switch over accounts.
4. SherpaShare
- Cost
- Basic plan: $5.99/month or $59.88/year (paid annually)
- Super premium plan: $10 per month
- Automatic mileage tracking: Yes
- Key features: Unlimited mileage tracking, in addition to SmartDriver tools with helpful data and insights
- Best for: Rideshare drivers who want mileage tracking along with advice and tools on locations, routes, and ways to optimize earnings
- App ratings:
- Apple: 4.5 with 1,100 ratings
- Android: 4.5 with 2,891 ratings
Many business owners have side hustles to bring in extra income. If your side gigs include ridesharing for Uber or Lyft, SherpaShare stands out from other mileage tracker apps. It not only tracks all of your mileage for tax deductions but offers deep analytics to help you improve your driving profitability.
SherpaShare’s offers SmartDriver Tools that include:
- Hourly revenue and profit charts
- Heatmaps that plot other drivers’ locations so you can find underserved areas and revenue-maximizing intersections
- A driver-to-driver chat platform
- A compass that analyzes past fares and recommends profitable routes
Best Business Expense Tracker Mac App Download
You can use this mileage tracker app if you’re not a rideshare driver. But with the price tag and primary focus, it’s value is best used by Uber or Lyft drivers. For other business owners or solopreneurs, try out the other mileage tracker apps on the list.
5. TripLog
- Cost
- Free plan: No automatic tracking, limited to five vehicles
- Basic plan: $2/month
- Premium plan: $4/month
- Enterprise version: pricing available upon request
- Automatic mileage tracking: Yes, with paid versions
- Key features: Lots of options—manual tracking, automatic tracking or plug-in to car’s bluetooth system; can also view routes directly on Google Maps
- Best for: Small businesses with multiple employees/contractors that need to track mileage on one system
- App ratings:
- Apple: 4.5 with 755 ratings
- Android: 4.6 with 2,387 ratings
With TripLog you can have multiple cars and drivers on one tracking system. Ookla speedtest app mac. A feature that sets TripLog apart from other mileage tracker apps is the various options for tracking miles: manual tracking, automatic tracking, connection to vehicle Bluetooth, iBeacon, OBD-II, Plug-N-Go and app widgets.
The enterprise version of TripLog is feature-rich. Not only does it support multiple drivers, but the administrator of the account can set-up variable rates, per diems, as well as track fuel purchases.
One con is that the free version only allows for manually adding trips, which slightly defeats the purpose of mileage tracker apps. However, the basic and premium plans are relatively inexpensive compared to the cost of other apps.
6. Everlance
- Cost:
- Basic plan: free, limited to 30 trips per month
- Premium plan: $8/month or $60/year (paid annually)
- Team plan: pricing available upon request
- Automatic mileage tracking: Yes
- Key features: Simplicity, the app creators (and reviewers) confirm the user interface is clean, simple and easy to use
- Best for: Self-employed contractors who want straightforward mileage tracker apps with expense tracking as an option
- App ratings:
- Apple: 4.9 out of 5,000 ratings
- Android: 4.7 with 9,993 ratings
Everlance is the highest rated mileage tracker app on the list. It’s a complete expense tracker, so you can keep tabs on mileage with the automated GPS system on your smart device, as well as record other expenses. The app’s accounting system generates IRS-compliant forms with itemized expenses for deductions at tax time.
Similar to MileIQ, with Everlance you can swipe to quickly categorize your trips as personal or business. While this app was rated the best mileage app for small business, it also boasts some big name corporate customers on their enterprise platform, like Century21 and Coca-Cola.
The free version is limited to 30 trips per month, so if you’re looking an unlimited, low-cost mileage tracker app, you might want to turn to another option. https://hrmyqmw.weebly.com/hot-to-uninstall-apps-on-mac.html.
Automate your reporting with mileage tracker apps
If you’ve ever attempted to guesstimate your mileage as a contractor or business owner, you know it isn’t an easy process. Reimbursing employees for mileage can also be difficult and drawn-out.
Mileage tracker apps make it easy to keep an up-to-date record of all business related driving, whether it be for you or your team members.
Small Business Expense App
Apps allow you to set up the program and track mileage with limited time and management required. Use these business tools to minimize admin tasks, automate your reporting — and then use the extra time to focus on high-level tasks to grow your business.