Top 10 apps & best practices for tracking business expenses
There are several mobile apps, programs and other items that should make tracking all of these business expenses easier. The main takeaway is to keep all business receipts and document the business purpose for the expense.
- BizXpense Tracker – This app tracks expenses and mileage and also allows you to record the amount of time you worked.
- Concur Mobile – This app is designed for employees and business owners who travel frequently. It allows you to track travel expense and approve travel spending for employees as well as book hotels and flights. This app also links up with credit cards and can import the charges directly.
- Expensify – This app allows you to keep track of business expenses, mileage and billable time. It allows receipt capture and can be synched up with credit cards so that expenses can be pulled in automatically. It also allows you to scan receipts and create expense reports.
- Mileage Log+ – This app is extremely helpful for mileage logs. This app is created strictly for tracking gas mileage and creating mileage logs.
- MileIQ – App for tracking mileage business versus personal.
- Shoeboxed – This app lets you capture receipts and file them for a reimbursement or as a deductible expense. You can even mail an envelope full of receipts to this company and they will input the receipts for you and send you an itemized list of your expenses in a digital file.
- Smart Receipts – This app scans receipts and generates expense reports that you can email to yourself in a PDF or CSV file.
- ReceiptBank.com – This app scans, stores, and extracts key data to save you time and money on processing all expenses. The app solves this issue of storing records and reduces the time required to move a bill, invoice or receipt in processing.
- Email Address – Another idea is to set up a separate email account (email address could be something similar to firstname.lastname@example.org) strictly for business receipts and documentation and send all pictures and pdf’s of any receipts to this account and reconcile this email account frequently.
- Pen & Paper - If technology just isn't your thing, you can always do things the old fashioned way. A simple log book will help you keep track of your mileage so you can stay on top of your records.