All sorts of expenses, including rent, utilities, furniture, equipment, licensing, insurance, marketing, and staff, are necessary to run a small business. To stay within budget, it’s important to track your expenses. However, not all companies have access to the best accounting software. Many quality apps have made it easier to keep track of your costs. Our top picks were chosen after we researched dozens of popular apps for tracking expenses.
QuickBooks Self-Employed is compatible with iOS and Android devices. It starts at $7.50 a month for the first three months ($15 per month after that) and packs a serious punch in terms of features. QuickBooks Self-Employed is compatible with iOS and Android devices and starts at $7.50 per month for the first three months. You can track both business and personal expenditures separately. You can track your mileage automatically, send invoices from anywhere, estimate quarterly taxes without any math, and much more. For just $12 per month for the first three months ($25 after that), you can pair QuickBooks Self Employed with. This will make filing your taxes super easy. This app is designed for microbusiness owners or self-employed entrepreneurs.
FreshBooks, a cloud-based accounting software that is comprehensive and easy to use, starts at just $8.50 a month for its Lite version. If you are a small business owner, we recommend that you sign up for the $30/month plan. This allows unlimited clients and an additional staff member and offers many useful project management tools. FreshBooks Premium is the plan for businesses that require all the features. It costs $55 per month and allows you to take your accounting to the next level.
FreshBooks can be accessed on any iOS, Android, or laptop device. This makes it an excellent option for entrepreneurs looking for a fully functional accounting package with mobile expense-tracking capabilities.
Expensify, available on Android and iOS devices, is a great way to make expense reports while on the move. Expensify is a must-have for business travelers who travel frequently. It allows you to enter expenses and take photos of receipts manually. Expensify automatically converts receipts into costs when you take a picture of them. You can also organize your expenses into categories like travel, mileage, and food. Expensify offers free service for individuals and only $5 per month for teams. [Read Related Content: Best Accounting Apps on Android for Your Smartphone ]
SAP Concur provides the best expense reporting app for small and medium businesses. SAP Concur offers a number of workflows that include employee reimbursement, invoice tracking, vendor payment, travel booking, and more. SAP Concur allows you to customize it however you like and charges you according to the features and users. SAP Concur offers small businesses a range of products, so it’s a good choice. You can also add functionality when you need to. Existing Concur customers can download the app for free on iOS or Android.
Empower Personal Capital
Empower Personal Capital offers a fully-featured investment management service. It categorizes and tracks all the purchases you make with your debit or credit card. It creates charts that show your monthly cash flow and breaks down your monthly expenditure. The app comes in two versions: the free financial dashboard and the wealth management service. Wealth management offers an investment management tool that functions as a roboadvisor and provides live support. The dashboard’s free features include a budgeting tool, a cash flow analysis, and an investment checkup. This app can help with retirement planning, and it will also provide an investment review.
Pricing: Full Access to the Financial Dashboard is Free; Wealth Management Service Fees start at 0.89 percent per annum.
Wally is an app that has a lot of useful features for tracking expenses. Wally is available for iOS devices, and its basic version is free. Wally is similar to other apps that track expenses. You can either take photos directly into the app or manually enter them and categorize them. Wally tracks your monthly income and gives you projected savings. Wally’s focus is on personal finance rather than business finances, making it a great fit for those who run microbusinesses and side hustles.
Marcus was created when Goldman Sachs Clarity Money shut down its app in March 2021. Its best features were incorporated into the brand. Marcus Insights is a set of tools and trackers that you can access on Marcus.com or the Marcus app. The app is easy to navigate and supports many external accounts. You can track your spending at the major merchants, monitor cash flow, and view a breakdown of your expenditures by category. The Marcus app can be downloaded on iOS or Android.
Mint is a free app that helps you track expenses, monitor bills and credit scores, as well as budget. It’s also a good option for side hustles or microbusinesses. Mint supports many banks and lenders and is free. It helps you with budgeting, tracking expenses, monitoring bills, and credit. Available on iOS and Android.
Mvelopes uses a suggested spending approach instead of analyzing your previous expenditures. It helps users to create a budget within 15 minutes and prevents them from overspending. You can create a monthly budget by putting cash into various “envelopes” in the app. The app is available for both iOS and Android.