Apps for Business Expenses
When the time comes to start your own business, there are many things that you’ll need to think about, from investing in local talent to designing the perfect product. One of the most important considerations for any company, regardless of size, is cash flow and avoiding too much debt. This is a good read about the UK’s average debt.
If you can’t keep track of your incoming and outgoing money in your company, then you have no idea whether you’re making a sustainable profit. Fortunately, for today’s business owners and would-be entrepreneurs, there are plenty of tech solutions that make managing your cash a little simpler. Here are just 3 of the best apps for keeping track of your business expenses.
Expensify is one of the leading cost management tools on the market today, offering an extensive range of automation features and capabilities. You can use this service to check your business costs on a day-to-day basis and rest assured that everything has been approved and endorsed by the AICPA.
Expensify is not just for managing expense reports. It can do a lot more than you might expect. The mobile technology even comes with SmartScan included, so you can avoid the headaches associated with things like tracking receipts and manual invoices. All you need to do is snap a picture of the receipt and all of the details will be automatically coded for you. Expensify even helps with mileage tracking for trips too. What’s more, the app is very easy to use, making it great for beginners and freelancers.
2. Zoho Expense
Another top contender for one of the leading expense tracking apps on the market today is Zoho Expense. Zoho offers a wide selection of business and IT solutions for modern businesses, including Zoho Office, and even a variety of collaboration tools. Zoho Expense is bound to be an easy-to-use solution for companies that have benefited from the Zoho portfolio before.
With Zoho Expense, business users can quickly and easily store copies of receipts and record crucial expenses when they happen. With the app, you’ll be able to pin receipts to reports, sort through expenses according to category, and add specific data fields. There’s a built-in GPS tracker included, Maps, and more to help with logging mileage for everyday trips too. The app is perfect for employees that need to travel regularly. You can also access even more convenient features by connecting your credit card to the system to benefit from automatic reports. Expenses can be easily combined, analysed and sent to managers via email and other services. For business leaders, the analytics services are great for tracking excess spending.
Finally, QuickBooks is a name that rarely needs any introduction in the world of accounting software. With QuickBooks, business leaders and finance teams can create comprehensive invoices or monitor their day-to-day cash flow. You can track profit and loss, and easily make the most of extensive end-to-end reports.
Once you connect your bank or PayPal accounts to the QuickBooks app, tracking information becomes even easier. You can keep a close eye on everything that’s happening within the financial side of your business. What’s more, if you’re trying to create a more professional image for your company, QuickBooks can help with customising your invoices and sales receipts too. Support for more than 80 app integrations is also included with the QuickBooks app.
Not only is QuickBooks intuitive, but it’s also easy to use and commonly appreciated by accountants throughout various countries. All you have to do is give your accountant access to your QuickBooks, rather than provide them with a pile of receipts at the end of each year.
Choosing Your Accounting Tech
Auditing your expenses doesn’t have to be the most exhausting part of running your business. With the latest apps and technology, you can conveniently automate everything from expense tracking to mileage management in just a few seconds. Also remember to keep a home safe if your business requires you to travel frequently.