Concur is especially ideal for any international business trips, as the app automatically calculates the currency exchange rate.
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The software can also be accessed from a desktop browser, allowing ultimate flexibility for employees. Airfare, hotels, and rental cars can all be booked through the app and reservations changed at a moment’s notice too, meaning there’s no need for back and forth of itineraries or sensitive financial information. This app also integrates with one of the earlier ones on our list, Concur, to allow for more nuanced tracking of mileage within a larger system.įor a small business owner coordinating lots of business travel or expenses for remote employees, software like Concur can streamline operations and help achieve more oversight at the same time. The app prompts users to enter all the information the IRS requires, including the odometers start and end readings, the purpose of the trip, and any receipts for gas or necessary service. But TripLog is unique in its emphasis on IRS compliance. If tracking mileage and other vehicle expenses is important to a business, there are lots of apps out there that can integrate with a phone’s GPS to do the basic task.
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Perhaps most importantly, Shoeboxed can generate PDF reports of all your important receipts when tax filing time comes around, and both the Internal Revenue Service and Canada Revenue Agency accept those as documentation. However, a $39 monthly subscription to the software also comes with prepaid “magic envelopes” that can be loaded up with receipts and mailed in to be digitized. The app integrates with Gmail to track digital receipts automatically, and images of receipts can also be uploaded as with most expense tracking apps. If organizing receipts is the biggest headache of a small business’ expense tracking, an app like Shoeboxed might be the way to go. The app costs a one-time fee of $6.99, and some services within the app, like device-to-device syncing or automatic location tracking, cost extra.
After everything is entered, custom reports empower users to take a step back and analyze expenses over time. The app also allows for both receipts and billable hours to be tracked and categorized by client, date, or geographic location as needed. 1 Like many of the offerings on our list, the app can integrate with Google Maps to track a driver’s mileage in real-time. The BizXpenseTracker app is only available for iPhone or iPad, but among users of that operating system it is consistently one of the best rated expense tracking apps.
Here’s some insight into five of the market leading apps, and what each could do for your business. Such apps are common, but each has its own unique features that can make or break its efficiency as a tool, depending on the user’s needs. Luckily, mobile apps today make it easier than ever to track both small and large expenses. But owners do need at least an awareness of these expenses to ensure the long-term success of their businesses. With everything business owners have to keep track of, managing business expenses down to the cup of coffee they bought an assistant might seem like overkill, or one task too many.
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