Does your small business keep you on the road? Keeping track of all your expenses and receipts when you’re on the go requires a little planning and help from great apps. By organizing and tracking your expenses, you can head into tax season equipped to claim all the tax deductions you qualify for. 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. These awesome tools can easily integrate with QuickBooks, giving you a comprehensive look at your financials in one glance. Here’s a guide to the top receipt scanning apps on the market.
What if there was a safe and efficient way to manually file your expenses? Using optical character recognition (OCR) technology, the QuickBooks Self-employed app can scan and record the amount, date, and location of your transactions.
In addition to receipt scanning, the app can automatically import your bank statements, credit card, Square and PayPal transactions and sort your transactions into tax categories—such as meals/ entertainment, travel, office supplies etc. Having your expenses categorized in advance will make tax season a breeze since the category lists in QuickBooks Self-Employed are identical to the list on the T2125 form. Alternatively, you can take control of how your expenses are organized by setting up custom organization rules.
Overall, the app’s interface is intuitive and lets you sort personal and business expenses in a second with a simple swipe. Using the app to track expenses can prevent you from leaving money on the table. On average, users of the QuickBooks Self-employed app have found $19,290 in annual savings*.
Rydoo is an excellent receipt scanner and expense tracker for medium-sized enterprises. It 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 allows you to submit pictures of your receipts using a smartphone and makes approving expense easy. The app leverages Google Maps to help you track your mileage and claim travel expenses. It works globally and 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 is a complimentary app that lets you book your travel through the app. Additionally, it generates regular travel expenses 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. Pricing for the app varies per-person with a five-person minimum.
Veryfi (formerly known as IQBoxy) 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. Whereas 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 $4 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 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 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 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.
Note: *Based on TY17 CA subscribers that have identified >$10k in income and >$0 in business expenses.