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Best Expense Report Apps — July 2020

Top expense report apps that will save you money, increase profits, and boost operational efficiencies

As your company grows, your expense management will have to graduate from Excel spreadsheets and informal reimbursement procedures to a more official expense tracking system. One that benefits both you and your employees. This means being able to track every expense (what it is, who made it, when and how it was incurred, etc.), share clear expense policies with your team, and reimburse your employees in a timely manner. 

When you manage expenses well, you can better plan for growth, stay profitable, remain compliant with tax laws, and reap other operational benefits. 

So what expense tracking software should you use? In this guide, we’re breaking it all down so you can make an informed decision for your company. Let’s get started.

We spend hundreds of hours researching the best HR and recruiting software so you don’t have to.  We never take money from vendors during our research phase and rely heavily on practitioners and experts to help us recommend the right software.  Most of the vendors featured on our site have no commercial relationship with us, we want to feature the best software for our readers regardless. Learn more

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Best Expense Tracking Software

We surveyed the landscape for the best expense tracking software, here are some vendors we think you should look into

Expensify is a simple to use expense tracking software that is great for individuals, or larger companies. In fact, their customer base includes the likes of Pinterest, Stripe, The Miami Dolphins and many more. It's an easy yet powerful way to keep track of expenses so you can save time and focus on what matters - your business.

Expensify

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1,000 companies use Abacus to manage expenses including GLG and classpass. Abacus's system will programmatically identify expenses that need a human to take a closer look (over spending, not on policy, unusually high spend, etc) - saving your team time.

Abacus

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Fyle's AI powered expense reporting software allows companies to intelligently scan for duplicate expenses, fraud, non-compliant expenses, and more. This drastically cuts down on the time needed for expense reporting for finance teams, HR, and employees.

Fyle

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Companies like Lyft, Dropbox, Robinhood and many more use TripActions to help manage employee travel, and the related expenses that come out of it. Employees can use the app to book travel within the existing expense policy. You can also use this to allow third parties like consultants to book travel. Expenses are automatically pulled into HR and accounting software in real time.

TripActions

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A massive number of small businesses use Quickbooks for their accounting and financial reporting.  Quickbooks also has an expense tracking app that seamlessly integrates with the rest of their accounting software.

QuickBooks

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PayChex has a track record and scale that makes them worth a look.

SAP Concur has been in the expense tracking software game for a very long time. Employees can book travel and add expenses through a web or mobile based interface. HR and operations can stay compliant with a system that has been around the block a few times.

SAP Concur

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Sage Intacct helps companies with time and expense management so their employees can focus on the task at hand.  Expenses can be translated into invoices for clients after approval, and then eventually pulled into GAAP compliant revenue recognition policies for your P&L.

Sage People

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Garmin, Pitney Bowes, and 10,000 other companies use Certify for expense management. They work closely with teams to ensure a proper onboarding process including necessary accounting software integrations and compliance with HR policies.

Certify

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Rydoo is a mobile first expense management system that allows employees to quickly book travel and keep track of expenses. Their mission is to cut down on the burden of expense management for high growth companies so that employees can focus on clients, not administrative tasks.

Rydoo

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That's the end of our shortlist.  You can read on for more information we think you should know about this category including the core use cases, best practices, pitfalls, pricing info, and a lot more.  Just below this sentence you'll find a buyer organizer spreadsheet you can download to stay organized throughout your selection process. Good luck :)

Next Steps for Expense Tracking

To help you determine the best expense tracker apps for your company, think about the following criteria:

  • Your business needs. How you're going to track expenses depends a lot on your business' unique needs. In most cases, needs depend on your company size. For example, if you're a small business with a handful of employees, your needs will be very different from a large corporation with hundreds of employees, frequent travel expenses, etc. 
  • Customization requirements. Related to your business needs are any customizations you'll need for your particular financial/expense tracking situation. For example, do you hire freelancers who might need to submit expense reports? Will you need support for invoicing or other accounts payable tasks? Do you need other customizable features? 
  • Your overall budgets. Having a clear budget and an understanding of your cash flow situation will help you define your expense policies and spending limits for business travel and other approved expenses.

As you do your demos, be sure to talk through these criteria to see which vendor will best fit your needs, how flexible they are with customization requests, and more. You could even ask them for examples of how other companies and business owners have tailored a solution to their unique needs. Good luck!

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