Most people who have to stay on top of expenses seem to view it as a bit of a chore. If you’re running a small business it can be a time-consuming but vital part of day-to-day admin work. If you're an employee then chances are your boss keeps on at you to to ensure that you're recording expenses too.
Add together all this reluctance to get the job done and you’ve got a task that is often left to the last minute or, worse still, ignored altogether. Actually though, keeping tabs on expenses is now easier than ever, thanks in the main to software that’ll help you get on top of them and keep it that way.
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In the last few years there have been numerous attempts to make expense tracking that little bit easier to handle. Today there are several options when it comes to taking care of business, with some excellent cloud-based tools at your disposal.
And, because these software applications are based in the cloud it’s much easier for employees to file their expenses remotely.
Meanwhile, employers now have a whole raft of features and functions at their disposal that make handling expense claims that much easier. Adding some much needed icing on the cake is the way many expense tracking software applications can deliver plenty of impressive reporting functionality too.
Need to crunch some numbers and ensure the books are balanced? Expense tracking software could well be the solution.
You’ll need to do some research before purchasing an expense tracking package however, as there are numerous aspects that might not be as clear cut as you think. Much of what you’ll need will be based around how many employees you have.
If you're a small business, or even a sole proprietor then a basic expense tracking solution is obviously going to do the trick.
On the other hand, if you're running a company with multiple employees then you’ll want to look at some of the more advanced SaaS solutions on the market. These come with much more advanced functionality and are better able to cope with multiple expense claims.
High-volumes of claims to process can be time-consuming, but if you pick a premium offering then much of the work will be automated. So with all that in mind, let’s take a look at what’s on offer. Alternatively, head straight to our main expense trackers guide.
The always-impressive Abacus comes with a polished feel that helps you tackle your expenses with enthusiasm thanks to an interface that is great to use. Everything feels slick and all of the features and functions are, by and large, pretty easy to get the hang of.
It’ll sync nicely with many common accounting software programs, while Abacus also has the capacity to appeal to larger businesses that need its many automated features.
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If you’re in charge of a small business operation then Certify is a good bet. It comes with lots of time-saving tools, such as the ability to scan receipts and the auto-fill feature is a real boon too.
There’s an excellent app to accompany this service, which’ll make it appealing to employees who can file expenses on the go. Add on a decent affordability rating and you’ve got a very decent solution.
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Now owned by SAP, Concur Expense has clearly had a lot of resources thrown at it, with a newly revamped package that is topped off by a dazzling app.
There are many features and functions, while the ability to handle multiple expense claims means it’s well suited to larger business concerns. It’ll be beyond the reach of many smaller players, but corporations will doubtless love it.
If you're running a large business concern then you’ll want to arm yourself with a software solution that can handle higher volumes of expense claims.
To that end Expensify does a great job by delivering a stack of tools for processing all sorts of claims and offers numerous tools that help automate the process. The software isn’t the easiest to use, with some complex sides to its operation, but it is powerful.
This is a no-nonsense expense tracking solution that doesn’t offer much in the way of frills but gets the job done without too much fuss and bother.
The bonus is an impressive interface that just about anyone can use, plus the ability for tweaking it so that ExpensePath does exactly what you want it to do. The software is also competitively priced, which adds to the appeal.
This is a rather dry software experience that is aimed more at the accounting experts in larger companies than smaller businesses with less time to spend discovering its charms.
ExpensePoint does come with some muscular expense tracking capabilities, but it’s a little bit quirky in places too. You’ll get extensive reporting however, even if it might look a little off-putting to the less seasoned expenses handler.
Anyone looking for a really simple way of tracking and processing expenses should definitely take a look at Receipt Bank. This neat little mobile app comes with plenty to recommend, with a great line in app design that means it’ll work seamlessly with many accounting software solutions. It’s got a few idiosyncrasies, but deserves a once over.
Another expense tracker that seems to get better with age, Rydoo looks a treat these days and works very efficiently too. It’s competitively priced, sports a suite of practical receipt scanning tools and can tackle expense claims that come from international as well as domestic sources.
The software engineers have done a great job giving Rydoo a recent makeover, which makes it all the more appealing.
This is another one of the many software solutions that come from the Zoho software stable and, like all of the other products in the portfolio, it can be used in tandem with their related software products.
Zoho Expense has been nicely thought out and comes with an affordable price tag, lots of features and functionality plus it’s nice and easy to use into the bargain.
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