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Best Expense Tracker Apps to Download

Easily keep track of all your bills and receipts to get reimbursed faster

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Any business, regardless of its size and type, needs capital to run. This money isn't just needed for long-term operations, but also for the business's day-to-day needs. For instance, a restaurant may need a certain amount of cash daily to pay for ingredients. Similarly, employees also need to be paid on a monthly basis.

With money being essential for the working of any business, it's imperative to keep track of the cash's inflow and outflow.

There are many apps that can help you keep tabs on the expenses incurred by your business. These include many features such as automatic generation of invoices from receipts and direct reimbursements to employees.

Here's our round-up of the best business expense tracker apps. Read all about the features they offer and find out which one's the best for you.

The 7 Best Expense Tracker Apps to Download in 2022

Best Expense Tracker Apps to Download
Best Expense Tracker Apps to Download

Best Overall : Expensify


Expensify

 Expensify

Why We Chose It

Expensify is our choice for best expense tracker app thanks to its vast array of features and automation capabilities.

Users can complete their expense reports, track receipts, and more. Its SmartScan technology makes it simple to keep track of receipts, even on the go. The app can automatically record, report, and submit expenses to generate real-time reports. Capture a picture of the receipt and details such as merchant, date and price are automatically coded for faster reimbursement. You get real-time travel notifications for upcoming trips, delayed flights, and other details, and any changes to the itinerary are directly sent to your mobile device. Mileage tracking is included in the mix as well.

Expensify supports corporate card reconciliation, and next-day direct deposit reimbursement. It also has accounting integrations with services such as QuickBooks, Xero, and NetSuite.

Even though it offers a lot of mobile features, some users complain that you have to manually sort receipts to match expense reports. Others note that the app freezes sometimes, requiring them to upload receipts again.

Pros & Cons
Pros
  • SmartScan technology allows users to upload receipts on the go

  • Next-day direct deposit and corporate credit card reimbursement available

  • Real-time notifications for travel details

Cons
  • Manual sorting required to match receipts to expense reports

  • App freezes, causing some users to upload receipts multiple times

Runner-Up, Best Overall : Zoho Expense


Zoho Expense

 Zoho Expense

Why We Chose It

Zoho Expense is our runner up for best overall expense tracker apps because it allows effortless expense tracking and quick approvals.

The app allows you to easily store digital copies of receipts and record expenses as they happen. You can also pin receipts to reports, sort expenses by category, and add additional data fields. It even has a built-in GPS tracker and Maps so you can log mileage overheads for trips.

You can connect your credit card to the app to automatically import and manage transactions, and expenses can be batched together and sent to approving managers.

It's also possible to create per diem rates for employees and multiple currencies are supported. Enhanced analytics let you track excessive spending and keep policy violations in check.

Even though the features are impressive, they're not without their flaws and limitations. Some users report that the app can be glitchy sometimes and requires users to enter their information multiple times. Customers also note that the app doesn't integrate with accounting software, which might make it time-consuming for some businesses. The app is also rather expensive, users report.

Pros & Cons
Pros
  • Store receipts digitally and track expenses in real time

  • Log miles using a built-in GPS

  • Connect credit cards for quick reimbursement

Cons
  • Expensive to use

  • May be glitchy and require multiple uploads

  • Doesn't integrate with accounting software

Best With External Service Integration : Rydoo Expense


Rydoo Expense

 Rydoo Expense

Why We Chose It

Rydoo Expense has a laundry list of features, from mileage tracking to real-time expense analysis, but where it really stands apart from the crowd is its integration with other software, which makes the migration to and from different platforms a breeze. This is why we chose it as best for external service integration.

You can submit expenses on the go, and reports can be sent by email, captured through a camera, and submitted via external services such as Dropbox. The app can automatically create expenses when scanning receipts, and you only have to add the extra information like project and payment method.

Rydoo can analyze credit card statements to match expenses with transactions. And detailed compliance rules can be set for employees for more accurate expense management.

As mentioned earlier, Rydoo Expense's biggest strength is its integration with other apps. The app features seamless integration with ERP packages such as SAP, Oracle, Microsoft Dynamics & Navision, JD Edwards, and Netsuite. It's also easy to migrate to Rydoo from other expense management/tracker systems.

Even though Rydoo excels at integration, it falls short in some key areas. Users mention problems with the app reading receipts properly, necessitating manual entry for expenses. Others report problems with reports getting stuck in a queue and being asked by customer support to uninstall and reinstall the app.

Pros & Cons
Pros
  • Seamlessly integrates with enterprise resource planning (ERP) packages

  • Analyzes credit card statements to match expenses with transactions

  • Expenses can be sent by email, captured via a smartphone camera, or integrated through third-party programs like Dropbox

Cons
  • Customers report that the app doesn't read receipts properly

  • Bugs may require users to uninstall and reinstall the app

Best For Multiple Bills/Vendor Management : QuickBooks


QuickBooks

 QuickBooks

Why We Chose It

QuickBooks is a name synonymous with accounting, so it's no surprise it made our list of top expense tracker apps. We chose it as best for multiple bills and vendor management because its standout feature is its advanced bill management tools.

You can set up recurring bills and keep a record of bills you've paid by check. It's also possible to set up vendors, control expenses incurred, and pay multiple vendors and bills at the same time. QuickBooks can be integrated with third-party payment solutions such as PayPal, Bill.com, and Apple Pay.

QuickBooks lets you customize your invoices and sales receipts with your organization's logo, and you can better prepare for all the necessary tax deductions by providing your accountant access to the account. Support for more than 450 apps - including everything from inventory management systems to customer relationship management solutions - allows you to enhance the functionality of the app even further.

Because it's accounting software, QuickBooks' invoice generator lets you to track sent invoices even if they are in multiple currencies. Additionally, you can connect your bank account with the app and track profits and losses of your business. Bank transactions can be reviewed and added to accounting records.

Even though QuickBooks is convenient for managing multiple bills and vendors, it's not without its flaws. Some users report that the expenses tracking feature doesn't sync well, and others note problems with photographing receipts.

Pros & Cons
Pros
  • Set up recurring bills

  • Supports more than 450 apps

  • Track sent invoices, even those in multiple currencies

Cons
  • App may not sync well with other apps

  • Users report problems with photographing receipts

Best for Travel Expense Management : SAP Concur


SAP Concur

 SAP Concur

Why We Chose It

If you've got a lot of travel-related expenses, SAP Concur might be the right app for you. It made our list as best for travel expense management. The app has a lot of intuitive tools to help employees track expenses incurred during work-related travel.

A companion app for Concur solutions, SAP Concur lets you book business flights and approve travel invoices, anytime and anywhere. You can use the app to quickly review and approve reports and travel requests, add attendees to business meetings or meals, as well as access and manage your entire itinerary on the road.

Additionally, you can import data directly from credit cards, and flights, ride sharing, cabs, and hotels can be booked from anywhere. Based on ​an estimated travel budget, you can get customized hotel suggestions and itemized charges. You can also integrate your itinerary with the TripIt app for better management of travels.

Users have reported some glitches with SAP Concur. Some are related to uploading Uber receipts using the app. They report only being able to upload Uber receipts using the desktop version. Others note that it is difficult to enter more than one or two expenses at a time.

Pros & Cons
Pros
  • Book flights, hotels, ride sharing, and more anywhere

  • Quickly review and approve expense reports

  • Import data directly from credit cards

Cons
  • Users report difficulties uploading Uber receipts

  • Difficult to enter more than one or two expenses at a time

Best For Quick Expense Approvals : Abacus


Abacus

 Abacus

Why We Chose It

Abacus made our pick as the best expense tracking app for quick reimbursement. It provides the fastest processing of all the apps on our list.

The app drafts expenses from reliable data sources such as receipts, card transactions, past behavior, CRM fields, and geolocation, ensuring the records are complete and accurate.

What gives Abacus the edge is its ability to automate expense policy and approval hierarchy. Policy rules are applied to expenses before they are submitted, preventing any violations. Custom routing rules then send the expense to the best-matched approver. Once an expense has been approved, Abacus handles the reimbursement and directly deposits it into the employee's bank account.

You can sync expenses into accounting software using either cash or accrual method, and custom analysis reports help you identify trends and manage budgets more effectively.

Some users report tech issues, a particularly serious issue given that Abacus is responsible for reimbursing employees directly. Users also report problems scanning receipts.

Pros & Cons
Pros
  • Drafts expenses from receipts, card transactions, past behavior, CRM fields, and geolocation,

  • Reimburses employees directly

  • Sync expenses into accounting software

Cons
  • Users report tech issues, particularly with reimbursements

  • App sometimes fails to scan receipts properly

Best For Digitization Of Receipts : Shoeboxed


Shoeboxed

 Shoeboxed

Why We Chose It

If you own a small business, there's absolutely no need to use a complicated expense tracking solution. Shoeboxed made the cut in our list of best expense tracking apps because it offers receipt digitization and organization.

Shoeboxed lets you track receipts, mileage, and even business cards, without needing any manual data-entry operations. Just snap a picture of the receipt and the app extracts all the information from it. Receipts can be sorted into common tax categories and instantly archived. The app supports one-click mileage tracking and lets you e-mail generated expense reports in seconds. Expenses can be further exported to other solutions such as QuickBooks, Wave Accounting, Excel, Outright and Xero.

The most interesting thing about Shoeboxed is that converted reports are verified by humans for maximum accuracy. You can simply mail (in a "Magic Envelope") all your receipts and other paperwork to Shoeboxed, and they'll digitize and organize them for you. That said, you need to subscribe to one of Shoeboxed's upper-tier plans — Professional and Business — in order to avail the service.

The app may digitize your receipts, but some users report problems with the mileage tracker crashing. Other users report having to take pictures of receipts multiple times for the app to orient the image properly so data can be imported.

Pros & Cons
Pros
  • Digitizes and organizes receipts

  • One-click mileage tracking

  • Expenses can be imported into accounting software

Cons
  • Must subscribe to the app's Professional or Business plans for digitization and organization

  • Mileage tracker crashes

  • App has difficulties orienting receipt images to properly import data

Final Verdict

Managing expenses can be burdensome, but the apps on our list of best expense trackers can help make your life easier.

Expensify took our top spot because its features will satisfy most people's expense-tracking needs. But every business is different. And you might need an expense tracking app with certain features. Whatever your needs, you're sure to find an expense tracking app on our list.

Frequently Asked Questions

What Is an Expense Tracker App?

An expense tracker app is generally used to track business expenses, which is important for accounting and tax purposes. You can use an expense tracker on the go to record things such as travel expenses, mileage, and meals. The app can generate real-time reports and analysis, direct-deposit reimbursement, credit card reconciliation, and more. It’s a helpful tool to keep your receipts and expenses in order and organized regardless of where you are or the size of your business.

How Does an Expense Tracker App Work?

An expense tracker app works when you upload receipts, record expenses, or input mileage, and it sorts and organizes them and turns the data into reports that you can save, email, or analyze. You can also connect it to your bank accounts and credit cards to make deposits, track spending, and monitor outgoing funds by category. It’s basically a digital expense management solution.

How Much Does It Cost to Download an Expense Tracker App?

Expense tracker apps vary in features, tools, and how much they can help you track your expenses, as well as whether they can be integrated with accounting software and what reports they can help you run. The prices also vary. Generally, you can expect to spend between $5 and $30 per user per month for a good expense tracker app.

Most expense tracker apps aren’t free, so you need to decide if it’s worth the cost to you and your business. First, figure out what your goals for using the app are, what you need it to do, and how many users will be using it. If the app can help you eliminate unnecessary expenses, keep receipts organized for tax time, and run reports that help increase your efficiency, it may be worth the monthly cost. 

How We Chose the Best Expense Tracker Apps to Download

We reviewed the top expense tracker apps to select the top ones. Our top picks were chosen based on their features, reporting capability, technology, ease-of-use, company reputations, and more. We also took into account customer reviews, paying close attention to user experience, customer service, value, and more.

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