Does your small business keep you on the road or working from various locations? Keeping track of all your expenses and receipts when you’re always on the go requires a little planning and help from apps and software. By organizing and tracking all those expenses, you can head into tax season well prepared to claim all the tax deductions for which you qualify. Receipt scanning software programs simplify expense tracking for a variety of industries, whether you need an easy, inexpensive way to manage your freelancing expenses or a robust mobile system to organize your sales and travel-related expenses.
Travel Expense Tracking
You can write off travel expenses, but it means you need a good way to track expenses on the road. Using an app to track your travel expenses simplifies things so you don’t have to pocket and file paper receipts or comb through your bank statements after the trip. Apps designed for travel let you upload expenses in multiple ways. For example, you can email your airline receipt, snap a photo of your out-of-town dinner ticket, or upload a copy of your hotel receipt. You can also find apps that track your mileage using GPS, such as TripLog.
Rydoo combines three companies, Sodexo, iAlbatros, and Xpenditure, into a single app with robust offerings for expense tracking. You can choose from three options: Rydoo Expense, Rydoo Travel, or an integrated platform that combines the two. Rydoo Expense cuts down on manual data entry with paperless expense processes that save you time. You can take pictures of your receipts and submit them all from a smartphone. The app makes approvals of expenses easy. If you need to track mileage, the app lets you use Google Maps to track it to claim travel expenses, and it works all around the world. The platform also lets you set rules for projects, expenses, and various components to help you stay in compliance. Plus, this app provides real-time data to help in your business decisions and integrates easily with QuickBooks Online to include those expenses in your company’s bookkeeping.
Rydoo Travel makes a good option if you travel a lot for work. You can use the central billing feature to pay for hotel stays easily without bringing business credit cards, and it gives you a consolidated invoice each month that breaks down all your trips and the associated expenses. You can book different aspects of your travel through the app, and it lets you create reports to look at your regular travel expenses in addition to the travel details to help you with your business travel budget.
When you combine the two, you can use a single app to check the details of your travel plans plus see a breakdown of all the expenses associated with the trip. You can choose from different plans depending on what you need. Pricing is per-person with a five-person minimum and no maximum.
As the preferred receipt scanning software of many accountants, Receipt Bank also provides small- and medium-size businesses with plenty of useful features. You can scan receipts on the go using the Receipt Bank mobile app or transfer files through email, Dropbox, or a simple drag-and-drop interface. The software pulls the important information from your receipts and invoices, keeps it organized, and makes it easy to share the data with your bookkeeping software or accountant. You can create rules for handling different types of information and expenses to help automate the process accurately. Single- and multi-user packages let you choose the option that works for you with various monthly rates that depend on the number of receipts you typically generate.
The Neat family of products delivers solutions for businesses of all sizes. A leading provider of standalone receipt scanners, Neat makes it easy to scan your receipts from anywhere. You can also use the subscription-based mobile app to scan your receipts, whether you’re at the office or on the go. Neat’s advanced PC-based software does the rest. Use this program to organize your receipts, business cards, and scanned documents into folders and subfolders, search their data by filters or keywords, and create a variety of reports and budgets. Neat scanners and monthly service plans have various price points, and the service integrates with popular accounting programs, including QuickBooks.
Once known as IQBoxy, Veryfi offers easy-to-use receipt software that doesn’t fall short on features. Users may mail, scan, email, or upload their receipts for processing or dictate the information through their Apple Watch. Veryfi uses AI-powered technology to pull the necessary data from digital and analog files for accurate, automated data entry, and the company releases regular updates to keep its automated technology competitive. You can choose from different Veryfi apps depending on your needs. The Core app handles your expenses and receipts, while the Logbook app offers hands-free travel tracking. The Timesheets app lets you track your employees’ time on various projects.
Nexonia allows you to track expenses in a cloud-based program for easy mobile receipt and expense uploading. You can customize the configuration and approval workflows to fit your company’s policies and rules for expense handling and link the app to your bank or credit card provider to upload statements and catalog expenses automatically. If you travel for work, you can integrate Google Maps with this app to track mileage, and you can sync the app with QuickBooks so it notes all your expenses in your accounting records. The integration lets you sync your customers, items, accounts, jobs, and other details between the two systems for better automation and accuracy. You can also add the Nexonia Timesheets app to handle time management for easy reporting.
Minute7 Time and Expense Tracking
Minute7, available for as little as C$5.25 per user per month, tracks both hours and expenses to help you manage your team efficiently. You or your employees can conveniently add expenses using the mobile app, and you never have to worry about your employees buying parts or supplies while on a job and forgetting to note the costs. Then, you can upload expenses and timesheets to QuickBooks with the tap of a button or export the raw data to a spreadsheet.
Expense management plays a huge part in your business’ success. When you track all your expenses, you can see where your money goes, ensure you don’t overspend, and make the right tax deductions when you file your return. To simplify your record keeping, use one of several expense-management apps that seamlessly integrate with QuickBooks.
Avoid manually punching in your business expenses and spend time on more mission-critical tasks with the AutoEntry app, which keeps office clutter at bay by storing your receipts and invoices. This app simplifies your data entry and keeps a digital record, so you can cut down on the volume of documents you keep. AutoEntry lets you record expenses by taking a picture of the receipt with your mobile device, and it works with any type of document, including receipts, banking statements, and bills. You can also record expenses or, if they’re digital, email them. After you record an expense, this app takes the data and prepares it for entry into QuickBooks, pending your approval, and you can save time by setting certain expenses to auto approve. AutoEntry keeps a copy of the expense image that you can view at any time, which makes it easy to verify expenses during a tax audit.
BigTime Time Tracking and Billing is a project and expense-management app. Whether you’re a freelancer logging your own hours or you have employees and contractors logging the hours they work for you, BigTime makes it easy with its customizable time sheets. It takes seconds to log in and record hours using a mobile device. You can also log expenses and attach them to their corresponding projects, helping you keep track of project costs. When you finish a project for a client, you can submit your time using BigTime. Hours and other project data logged in BigTime automatically sync to QuickBooks, and you can take any of your data, set up expense reports customized exactly how you want, and export them to Excel or convert them to PDF format.
The Expensify app for expense management offers a user-friendly interface and a helpful approval system. Like AutoEntry, Expensify lets you take pictures of receipts on your mobile device to record expenses. Expensify handles the rest, extracting the relevant information for an expense report that it enters into QuickBooks. You and your employees can also use the app for mileage tracking when using company vehicles. It helps your record keeping by pulling transactions from any credit cards you pair with it and matching the transactions to their receipts. Once Expensify creates an expense report, it can send it through multiple managers in your organization for approval, which helps your business stay on top of its expenses and reduce the chances of internal fraud.
Finding the right expense-management apps makes life easier for you and your employees. When you track expenses efficiently, it frees up more time to spend on running your business. If you forget to claim all your business expenses on your tax return, you face a higher tax bill than you should. Tracking apps can help ensure you never forget to log an expense while also creating a record of your expenses and aiding with budgeting. With QuickBooks Online, you can organize your business finances and stay ready for tax time. Try it free for 30 days.