“I need a better system for tracking expenses.” If you’re a small business owner, you can probably relate to that statement. 

Trying to track down receipts, or combing through credit card statements trying to figure out which charges are for, is one of the most tedious parts of running a business. 

That’s where expense tracking apps come in. They make it easier to track expenses for tax deductions, accounting, and monitoring cash flow. 

The following expense tracking apps can help you stay up-to-date on your business finances so you can budget more effectively and take advantage of as many tax write-offs as possible. Here’s how to choose the right one for your business.

How Do Expense Tracker Apps Work?

Expense tracker apps are a type of money management app that often works with business accounting software to simplify your business finances. 

Typically, these apps let you take a picture of a receipt or scan it, and store it digitally, eliminating paper clutter and making tax time easier. Many apps can also connect directly to your bank accounts and credit cards for automatic expense tracking and categorization.

Here’s what you often can do with an expense tracker app, though specific features vary by app and by cost:

• Take pictures of receipts or scan them
• Store receipts digitally in the cloud
• Download receipts or import from bank accounts and/or business credit cards
• Categorize expenses manually or automatically
• Create expense reports 
• Track business tax deductions
• Share access with employees and/or your accountant
• Integrate with accounting software or budgeting apps
• Track business mileage

These apps can be a big time saver for businesses of all sizes, from self-employed freelancers to companies with multiple employees. When your expenses are organized digitally, you spend less time on paperwork and have clearer insights into your business spending habits, cash flow, and business finances.

What to Look For in an Expense Tracker App

When you’re trying to choose the best expense tracker, start with your business needs. At a minimum, it should offer a user-friendly interface with receipt capture capabilities and mobile apps for iOS or Android devices, depending on what you use. 

Look for an app that connects smoothly with your existing business tools, like your accounting software and/or bank accounts. Integrations help automate expense tracking and reduce manual data entry.

While many apps offer free versions, paid versions typically include useful features like unlimited receipt scanning and multiple user accounts. Choose an app that balances price with the features and functionality your business needs most. 

Here are some questions to consider:

• What is your monthly budget?
• Do you need tracking for yourself or employees?
• How many receipts and/or monthly expenses will you track?
• How much automation do you require?
• Do you need track mileage?
• What software integrations do you need?
• Do you need to approve expense reports?

If you’re looking for insights into your business cash flow, start with a free Nav account. With Nav Cash Flow health you’ll get real-time insights into your cash flow, along with cash flow trends to give you more control over your business decisions.

Best Options for Expense Tracker Apps

These are some of the best expense tracking apps for small businesses that we recommend based on their positive reviews and variety of useful features. Keep in mind that many of these options have free trials that allow you to test out which one will work best for your business.

1. Expensify

What it is

Expensify is an expense tracker app that lets you track business expenses, dispense reimbursements, and scan receipts. Employees can snap a photo of their receipt and SmartScan will enter the details automatically. You can also create custom expense rules and flag certain purchases that need manager approval. 

What it costs

There are three tiers of payment plans. The free plan allows you to scan receipts (up to 25 receipt SmartScans per month), reimburse expenses, send out invoices, and pay your business’s bills. You can give employees Expensify corporate cards so they don’t have to submit receipts, as well. The next tiers cost $5 and $9 per user per month for more advanced features, which is more affordable than some other options on this list.

2. FreshBooks

What it is

FreshBooks is a popular accounting software that many small businesses use, but it can also be used for expense management. You can connect your business bank account and business credit cards to FreshBooks to import your expenses automatically. Also, use your phone to add receipts using the FreshBooks app or email. This option is especially useful for small businesses that already use FreshBooks for their accounting needs.

What it costs

Because FreshBooks is an accounting and billing software first, its pricing plans depend on the number of clients you have. If you have five or fewer clients, you’ll pay $19.00 per month (currently on sale for $9.50 per month for the first six months) for the Lite Plan. The next tier, the Plus Plan, costs $33.00 per month for up to 50 billable clients (but is currently discounted at $16.50 for the first six months). Unlimited billable clients will cost $60 per month (on sale for $30 for the first 6 months). Annual pricing saves 10% and automatic receipt capture is only included with the Plus plan or higher.

3. MileIQ

What it is

MileIQ is an expense tracker app focused on tracking mileage. If your employees drive a lot or travel to and from the airport frequently, this app may make sense for your company. This could also be an easy way for anyone who’s self-employed to track their business mileage. 

What it costs

For an individual, the free trial lasts until you have 40 drives under your belt. Then it’s $59.99 per year, or $5.99 if you pay monthly, for unlimited drives. For a business, you can sign up for one of three Teams plans that cost $5, $8, and $10 per driver per month. Each has individual features, so look into each plan to see which would work best for you.

4. QuickBooks Online

What it is

QuickBooks from Intuit offers an expense management tool for its users. This is a great option for anyone who is already a QuickBooks user, although many of the other apps on this list can integrate with QuickBooks and potentially offer more expense management features. But with this QuickBooks tool, you can connect bank accounts to import your expenses automatically. QuickBooks learns how you categorize them after you do it manually for one month.

What it costs

The most affordable Simple Start Plan costs $30 per month for one user (currently discounted at $15 per month for the first three months). The next tier, the Essentials Plan, costs $55 per month for three users (but currently costs $27.50 for the first three months). The Plus Plan gives you five users and costs $85 per month (but currently costs $42.50 for the first three months). The Advanced Plan allows for more than five users and offers the ability to track employee expenses, but costs $200 per month (currently discounted at $100 for the first three months). 

5. Rydoo

What it is

Rydoo is an expense tracker app that claims to cut the time spent on expenses in half and offer reimbursements three times faster than doing it all manually. Rydoo has a well-rated app that’s free to download for both Apple and Android products. The product has a global reach and uses compliance standards based on where you’re located in the world.

What it costs

The most affordable Essentials Plan costs $10 per user per month when you pay annually (if you pay monthly, that price goes up to $12). This plan has the automatic receipt capture and unlimited expenses. The Pro Plan costs $12 per user per month when you pay annually (if you pay monthly, it costs $14). You have to sign up for this plan if you want to set spending policies or reconcile card transactions automatically.

6. Abacus

What it is

The expense tracking app, Abacus, offers a streamlined user experience for tracking your business’s spending. It has high reviews throughout the tech space but the app’s customer reviews are lower than others on this list (2.6 out of 5 stars in the App Store and 3.1 out of 5 stars on Google Play). 

What it costs

The pricing for Abacus wasn’t showing up on its website when we conducted our research. It appears you have to go through the process of requesting a custom quote, so that adds another potentially burdensome step for users.

7. Shoeboxed

What it is

Shoeboxed is a great option for businesses that handle a lot of paper receipts because it gives you two options: scan the receipts using the mobile app or request a Magic Envelope to mail in your receipts for the Shoeboxed team to digitize for you. Postage is pre-paid on the envelopes, so it doesn’t cost you extra to go that route. 

What it costs

The lower-tier Startup Plan costs $18 per month (billed annually) for your first year and then $23 per month for the following years. You are limited to sending in 300 physical documents and 600 digital documents per year with that plan, and you get one free Magic Envelope per month. The next tier, the Professional Plan, costs $36 per month for the first year and then $47 per month. You’re allowed up to 1,800 for both digital and physical documents and you have unlimited free Magic Envelopes. The highest tier is the Business Plan that doubles your document count to 3,600 and costs $54 per month for the first year, then $71 per month after that.

*Reviews gathered independently by Nav 10/31/2024.

8. Zoho Expense

What it is

Zoho offers businesses a suite of software to help with operations, and Zoho Expense is the segment that helps with expense management. Zoho Expense offers standard features like automated expense reporting, credit card reconciliation, and direct deposit reimbursements to employees. There’s also an included travel service that could help businesses that plan and pay for a lot of business travel. 

What it costs

Zoho Expense is currently free for 1 user + 1 accountant and 20 auto scans per month. From there, Standard Plan for 3 users is $20 per month (currently discounted to $15 per month when paid annually). The Professional plan is $50 per month (currently discounted to $40 per month when paid annually). The Professional plan is $70 per month or $60 per month when billed annually, which gives you the ability to reconcile corporate cards.

9. Everlance

What it is

Everlance offers an automatic mileage tracking and expense log for businesses and self-employed individuals. Everlance offers several plans, including a pretty robust free option. Features that vary by pricing include automatic mileage tracking, expense tracking, reporting, and customer support.

What it costs

For a business, the free plan allows companies to record GPS-based trips and manage other expenses for up to 15 users. It offers manual mileage tracking, expense management, and reporting and approval flows. 

CPM Program ($10 per user per month billed annually, $12 per month billed monthly): This plan allows companies to reimburse employees at a set rate per mile based on accurate mileage logs. It includes automatic mileage tracker, smart trip classification, and commute rules.

FAVR Program ($33 per user per month billed annually): This plan allows companies to tailor mileage reimbursements to each employee’s role, location, and current costs. It offers features like personalized rate development, monthly rate adjustments, and compliance management.

10. Easy Expense

What it is

Easy Expense Receipt Scanner is an app that helps small businesses and individuals track and organize their expenses. Available for both ioS and Android, it features a receipt scanner that automatically identifies important details, mileage tracking, and integration with bank accounts. It offers professional reports in PDF and Excel formats.

What it costs

Easy Expense offers three pricing tiers for individuals (team pricing is also available):

Free: This tier allows you to manually track expenses, export data, and utilize cloud storage. It includes 10 receipt scans per month, two expense reports per month, invitations for other users, free tax filing, credit card and bank connections, email receipt scanning, automated mileage tracking, and the ability to create unlimited workspaces.

Starter: Priced at $8 per month, this tier offers unlimited receipt scanning and expense reports, invitations for other users, free tax filing, credit card and bank connections, email receipt scanning, automated mileage tracking, and the ability to create unlimited workspaces.

Professional: Designed for small business owners and self-employed individuals, this tier offers unlimited access to all Easy Expense features for $24 per month. This includes unlimited receipt scanning, expense reports, and workspaces. You can invite up to 5 users and take advantage of features like free sole proprietorship tax filing,credit card and bank connections, email receipt scanning, and automated mileage tracking.

All paid tiers come with a 7-day free trial.

Benefits of Expense Tracker Apps

If you’re using an app for tracking expenses, you likely understand the benefits. Business purchases, along with their receipts, can blur together. It’s a huge challenge to keep on top of them, but the best business expense tracker apps simplify that process. 

With some of the options listed above, you can even get notifications when your employees’ spending falls outside of your spending rules or if they try to overspend. These notifications can help you to deal with any potential issues in real-time rather than at the end of the month or the year, which keeps them from piling up. 

Plus, if you ever apply for small business loans, you’ll need to prove to lenders that you have control of your business finances, and these apps can help you keep accurate records so you can do that.

Sign up for a free Nav account to see what funding options you’re most likely to qualify for.

For any small business owner that has yet to try an expense tracker app, it’s worth going for a few of the free trials to see what’s out there and how they can give you back time that’s better spent elsewhere.

Are There Free Expense Tracker Apps?

Yes, several of these apps offer free versions:  

• Expensify: Individuals can use Expensify for free with up to 25 SmartScans monthly.
• Everlance: Record GPS-based trips and manage other expenses for up to 15 users
• Easy Expense: Free plan offers 10 receipt scans per month, 2 expense reports per month and free cloud storage
• Zoho Expense: Free for one user + accountant
• MileIQ: 40 free drives every month
• Freshbooks: The 30-day free trial.

FAQs: Expense Tracker Apps 

• What does an expense tracker app do?

  An expense tracker app is one tool you can add to your toolbelt as a small business owner. These apps can help simplify your receipt entry process, update your business’s cash flow in real-time, and create expense reports. If you or your employees are spending too many hours on administration for your businesses expenses, adding an expense tracker app can free up your time. 

• Is a spending tracker app free?

  Most business expense tracker apps are free to download, but you may have to pay for a monthly or annual plan to gain full access. These plans usually charge per user per month or they may be billed annually. Total pricing depends on which expense tracker app you choose.

• What is the best app for keeping track of expenses?

  The best app depends on your business needs. Think through what you’re willing to pay and which features are most important to you. If you need to free up time above all, you’ll want to look for an app that has automatic receipt capture so you don’t have to do everything manually. On the other hand, if you’re looking to save funds, you’ll want to find an option with a free plan. 

• Is it safe to use an expense tracker app?

  It makes sense to question the security of an app that asks you to connect your business bank accounts and credit cards. But these apps are generally considered to be safe. Look for security features like two-factor authentication, firewall barriers, and data encryption.