![]() The Premium plan also requires you to have at least ten users-which ups the cost to $30 per per month, paid annually. For 10 users and pre-travel approval, you’ll need the Premium plan, which costs $2.50 per user per month if you pay annually (paying monthly costs $3 per user per month). ![]() Zoho Expense’s free plan includes up to 1 user (plus an accountant) who can collaborate on expense tracking and travel management. Like Zoho’s accounting software, Zoho Books, Zoho Expense automates just about everything that can be automated, including employee expense approval and reimbursement. (It’s billed as an “end-to-end travel and expense” solution, not simply an expense tracker.) Along with the typical expense tracker features, Zoho Expense lets you book rooms, set travel budgets, and pre-approve travel expenses well before employees leave. Freelancers with a higher client volume will need at least the $25-a-month Plus plan, which increases your client limit to 50 a month. Unfortunately, the cheapest plan limits you to invoicing just five clients a month. You can also save by paying for FreshBooks annually instead of monthly. Use FreshBooks’s app to track your time, expenses, and mileage during a project, then transfer over the final billable expense to your client’s invoice (which you can also create and send with the FreshBooks app).įreshBooks doesn’t offer a free plan, but the company frequently offers frequent long-term sales. Instead, FreshBooks syncs with your bank account and credit cards, automatically importing and categorizing expenses, plus generating reports that help you make sense of your profit and loss.Īnd if you frequently bill your clients for expenses, FreshBooks’s excellent invoicing simplifies the process. Stumped on how to categorize your expenses, or why you need to do it? Get in the know with our simple guide on how to categorize business transactions.FreshBooks’s accounting software includes built-in expense tracking, so you don’t need to invest in two apps to manage your business’s costs. Set time aside each week in your workflow to review them and apply categories to each one. Regularly review and categorize your business expensesĮxpense tracking tools take a big load off your shoulders, but it’s still important to keep tabs on your expenses. Check out our top picks for the best small business credit cards. If you charge your expenses on credit, there are even more benefits to using a business credit card-like building business credit and earning rewards. A business bank account makes keeping tabs on business transactions a breeze. In any case, it’s best practice to separate your personal and business income and expenses. ![]() In some cases, you may be legally required to have separate accounts to protect yourself from liability incurred by the business.įurther reading: Do I need a business bank account? Separating your business and personal spending makes identifying business expenses simple and fast. Separate your personal and business transactions Better yet, we’ve compiled a list of the best receipt apps for small businesses.įurther reading: How long to keep business tax records and receipts 2. You may be able to store these files in your expense tracking app, or if you take the Excel route, keep them on your computer and back up your files on a regular basis. Double-check the images are clear and capture the entire receipt. The first step is to scan or take photos of your receipts. So how do you tackle that pile of crumpled receipts you’ve collected from your car, purse, pockets, and dining room table? Once you’ve chosen the expense tracker that best suits your needs, you’re ready to get cracking. What is the best way to track business expenses? But it can function as a great reimbursement app for your employees’ expenses. Heads up: Expensify is not a balance tracker, unlike the other options in this list. If all you’re looking for is an app to scan, upload, and store receipts, these two are great options. Worthy expense tracker app alternatives: Receipt Bank and Shoeboxed. Racking up the company card? Automate your workflow and import those expenses directly from your card, so you don’t have to go through your statements at the end of each trip.Įxtra convenient: Expensify automatically converts to any currency and offers integrations with most accounting software. Plus, Expensify also automatically imports receipts from Uber, Airbnb, and more. Snap pictures of your paper receipts with your mobile device, submit, and be done with them. Using Expensify means you can stop stuffing receipts into your luggage while you’re on the go. If you work remotely, or regularly have meetings in different parts of the country, you know post-trip expense tracking is a nightmare. Expensify: An expense tracking app for the business traveller
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