Keeping track of receipts has always been an important part of running a business, but the old ways of storing paper receipts can be time-consuming and prone to mistakes. Digital apps for keeping track of receipts have changed the way this is accomplished, making it easier and more efficient for businesses of all kinds.
With features like real-time expense categorization and integration with accounting software, these apps have a number of benefits that can make it easier to keep track of receipts and better handle money generally.
Lets take a look at the top 10 best apps for businesses to keep track of receipts, their features, benefits, and cost.
QuickBooks Online –
Businesses may manage their finances from any location with an internet connection using QuickBooks Online, a cloud-based accounting software. It handles invoicing, expense monitoring, financial reporting, and inventory management. A user-friendly interface and customizable dashboard simple accounting for small to medium-sized businesses. To streamline operations, QuickBooks Online interacts with payment processing and payroll providers.
It also has an iOS and Android app for mobile financial information access. QuickBooks Online offers subscription rates based on users and features. Businesses of all sizes can afford the software’s flexible pricing. QuickBooks Online is a popular accounting solution for businesses due to its powerful features and low cost.
Related: What Is QuickBooks & What Does It Do?
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Related: QuickBooks for Small Businesses: Which Version Do You Need?
Expensify –
Popular receipt-keeping app Expensify makes it easier for businesses to monitor their expenses. Its most important features are receipt scanning, automatic cost categorization, and real-time tracking, which can save time and cut down on mistakes. Also, it works with accounting tools like QuickBooks and Xero, which makes managing money even easier. The app has a free version with basic features and a paid version that costs $4.99 per active user per month and has more features like unique branding and advanced policy enforcement.
Shoeboxed –
With the help of the app Shoeboxed, businesses can control expenses more easily. It has a lot of features and perks that make it a useful tool for businesses of all sizes.
The app lets users scan and organize documents like receipts, business cards, and other papers on a single platform, so they don’t have to enter information by hand. It also has features for tracking, categorizing, and reporting expenses in real time, which makes it easy to control expenses and get tax returns ready.
Shoeboxed has different pricing plans that start at $18 per month for basic features and go up to $54 per month for advanced features like custom reporting and links with popular accounting software like QuickBooks and Xero. Overall, Shoeboxed is a powerful tool for managing expenses that can save companies time and make their financial processes more efficient.
Receipt Bank –
A versatile software for keeping track of receipts, Receipt Bank simplifies corporate expenditure management. Real-time tracking, automatic categorization, and configurable reporting make managing costs and tax returns simple. Its automated data entry tool collects information from receipts and invoices. Plans under the pricing structure begin at $22 per month, with more expensive plans available for larger enterprises. Receipt Bank is an effective expense management application that streamlines financial management procedures for companies of all sizes while saving time.
Wave –
The software for keeping track of receipts known as Wave Receipts is straightforward and easy to use, and it gives companies access to the features and benefits they need to effectively manage their company’s spending. It has a simple interface that makes it easy to scan receipts, put costs into categories, and make reports.
Automatic data extraction from receipts, receipt organizing, and real-time spending tracking are some of Wave Receipts’ primary capabilities. It also works well with Wave Accounting, which makes it easy to keep track of money in one place.
Wave Receipts is free, which makes it a good choice for businesses with limited funds. The app also has extra features and services that cost money, like unique branding, more users, and more detailed reports.
Zoho Expense –
The process of controlling business spending is made easier by the user-friendly expense monitoring and reporting software Zoho Expense. Automatic expense categorization, receipt scanning, and customized expense approval workflows are its main advantages. The software is meant to make the process of reporting expenses easier, which will save companies time and money. Users may submit expense reports and take images of receipts with Zoho Expense’s mobile app. The software also works with other Zoho products and apps from other companies, which makes it a useful tool for businesses of all kinds.
Based on user count and functionality, Zoho Expense offers subscription-based pricing. Businesses wanting to simplify handling expenses and reporting may consider Zoho given its broad capabilities, straightforward use, and affordability.
Xero –
Cloud-based accounting software Xero offers organizations a complete financial solution. It handles invoicing, bank reconciliation, expense monitoring, financial reporting, and payroll. Xero’s easy-to-use interface lets non-accountants handle their finances. To improve functionality, the program interfaces with over 800 third-party apps including payment gateways and project management tools. Xero’s subscription pricing depends on user count and features.
The software is cheap for all sizes of enterprises. Xero’s cloud-based technology lets businesses access their financial data from anywhere with an internet connection, giving flexibility and simplicity. Xero is a great accounting solution for businesses because to its robust features, easy UI, and low cost.
FreshBooks –
A variety of tools are available for managing finances for businesses with FreshBooks, an accounting program that is hosted in the cloud. Its most important features are billing, tracking expenses and time, project management, and financial analysis. FreshBooks is made to be easy to use. It has a simple, easy-to-understand interface that makes it easy for anyone to handle their finances, not just accountants. Different pricing plans are available based on the number of users and required features, making the software accessible to enterprises of all sizes.
Abacus –
Businesses may save time and effort when it comes to cost reporting by using Abacus, an expense management system. Key features include the ability to scan receipts, assign expenses to predetermined categories, and set up approval processes for spending. Abacus works with other business tools, like financial software and payment gateways, to make operations even easier. The cost for the software is based on subscriptions, and there are different plans based on the number of users and features needed.
Rydoo –
When it comes to controlling corporate travel costs, Rydoo is the all-in-one solution you need. The tracking of expenses and the automatic classification of those expenses are three of its most important aspects. Integration with other business tools, such as accounting software and payment gateways, helps the program optimize corporate processes even further. Depending on the number of users and features needed, Rydoo offers a variety of subscription-based pricing models.
There is a wide range of high-quality receipt-keeping software available for companies, each of which comes with own individual set of features and pricing tiers. One of these applications might be the best choice for the company to use in order to manage their money, but that will depend on the requirements of the company and their available budget.
Businesses should carefully analyze the features and pricing of each option before making a selection and may benefit from a free trial or demo to try the software prior investing.
We’re happy you found this article informative! Go back to our blog page to find more tips, tricks and guidance on bookkeeping, to ensure your business is financially sound and ready to grow to the next level.
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