Gathering receipts for expense reports following a trip is always a pain. At the end of the month, the last thing an employee needs to worry about is digging up the necessary documents for an expense report However, to no surprise, there is an app for that.
In an effort to give employees some extra time back, here are five apps that can ensure your expenses with ease.
SEE: Travel and business expense policy (Tech Pro Research)
1. Expensify (iOS, Android, Web)
With 4.6 stars and nearly 20,000 reviews on the iTunes app store, Expensify is the most popular expense reporting app. The app can import expenses and receipts from credit cards, cell phone scans, emails, or online.
Cost: $5/month per employee for basic plan
2. Shoeboxed (iOS, Android, Web)
If you have a lot of paper receipts, Shoeboxed is the way to go. Using their feature called The Magic Envelope, Shoeboxed will send you postage paid envelopes every month that you can send all your receipts in. The company then scans and uploads your receipts to the Shoeboxed app and produces expense reports. You can also use Magic Envelope to track tax write-offs or manage business cards. Shoeboxed is especially useful for freelancers or small businesses, according to reviews.
Cost: from $15/month for 50 digitized receipts
3. Abacus (iOS, Android, Web)
Expense reports are typically submitted to finance, and take days to be approved. Abacus expedites this process with its automated approval workflow. Within the app’s admin panel, you can designate certain expenses to be automatically approved or manually reviewed.
Cost: from $9/month with Starter plan
4. Rydoo (iOS, Android, Web)
Rydoo is an app for gaining insight into company expenses. Employees can record expenses through the app, online, or via email. Users can then look at employee purchases by category, office location, or project, which helps with budget planning. Employers can also add company spending policies to the app, so that they are notified automatically if an employee records an expense that doesn’t align with company policy.
Cost: from $7/month on the Team plan
5. MileIQ (iOS, Android, Web)
For commuters or frequent travelers, MileIQ is a valuable resource. When you get in the car to drive for work purposes, just open the app and log your miles with a single click. End the tracking when you end your drive, and your miles will be logged! You can then export the records to create an automatically generated report for your boss.
Cost: Free for up to 40 rides/month; $5.99/month for unlimited
The big takeaways for tech leaders:
- Logging and submitting expense reports can be a long process for business pros, these five apps make the process painless.
- With Expensify, Shoeboxed, Abacus, Rydoo, and MileIQ, users can both track expenses and receive expense reports much quicker.