For bookkeeping, you’ll need to integrate with bookkeeping software, such as QuickBooks Online, Xero, or Sage.
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However, Expensify isn’t a full bookkeeping software program. As a result, employee reimbursements will be faster.
Workflow approvals also ensure that expenses submitted are allowable under the company’s policies.
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Your accounts payable (A/P) clerk will have an easier time booking expenses and can skip the manual encoding of receipts. The features of Expensify reduce the workload of the accounts payable clerk.Įxpensify is highly recommended for businesses that deploy employees on fieldwork because it enables employees to immediately record and submit expenses. The app is a top fit for expense reporting because of its optical character recognition (OCR), credit card import, expense reporting, workflow approvals, and reimbursements. Expensify: Best for QuickBooks Users Looking for Expense Approval and ReimbursementĮxpensify is an expense tracking app that focuses on speeding up the recording of expenses. If you’re already using QuickBooks Online but are still in need of an app for expense approval and reimbursement, we recommend Expensify as an auxiliary app. We highly recommend QuickBooks if you want a two-in-one software solution for accounting and expense management. Given that QuickBooks Online is a full-fledged accounting system, we think that choosing QuickBooks Online is a cost-efficient option since it’s already a combination of an expense tracker and bookkeeping software. QuickBooks Online is our choice for the best overall small business accounting software, but it can also serve as a small business expense tracking tool. However, there is no feature for employee expense reports or reimbursements. You can take pictures of receipts using your smartphone and upload them through the app. QuickBooks Online is an accounting software program with an excellent built-in expense tracking tool. QuickBooks Online: Best for Small Businesses Needing a Complete Bookkeeping System Moreover, if deploying people for fieldwork is part of your business model, Zoho Expense is one of the best mobile accounting apps available today. Overall, we still think that Zoho Expense is worth considering. In this case, we recommend considering Emburse Abacus because it has custom-quoted plans that will adapt to your workforce. Unfortunately, small businesses with a workforce of fewer than 500 will be stuck at Premium or pay for unneeded users. Although the Premium plan shares the majority of Enterprise features, some small businesses might find Enterprise features useful for them, such as a dedicated account manager, enterprise resource planning (ERP) integration, and an advanced audit trail. However, we find the standalone Zoho Expense app less flexible due to the required minimum users for Premium and Enterprise. Moreover, Zoho Expense can integrate easily with Zoho Books, Zoho’s dedicated accounting software. If you choose this app, you can track expenses, add them to reports, approve or reject reports, and reimburse employee expenses. We recommend Zoho Expense for its comprehensive features in expense management.
It has a suite of apps that can work together to help your business needs. Zoho isn’t just a simple expense tracker. It can track receipts and expenses, generate reports, create approval flows, and integrate with other apps. We’ve placed Zoho Expense as the best overall small business expense tracking app due to its comprehensive features. Zoho Expense: Best Overall Expense Tracker Emburse Abacus: Best for real-time expense tracking and reconciliation.FreshBooks: Best for freelancers and solopreneurs.