Using software to track your expenses can save you time and money and help your employees operate more efficiently. In addition, it provides insight into your business’s spending habits, making your life (and your accountant’s) a whole lot easier come tax season.
Consider business expense trackers that are made specifically for your most common type of spending. For example, if your employees drive a lot for work, narrow your choices down to software products that primarily track mileage. Additionally, make sure the tracker integrates with your accounting software to minimize manual data entry.
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Here are some of the best business expense trackers for small businesses.
Best Small-Business Expense Trackers
Product | Promotion | Learn more | ||
|---|---|---|---|---|
Xero Learn more on Xero's secure website | 5.0/5 Best for Accounting software with business expense tracking features | $15/month Additional pricing tiers (per month): $42, $78. | 30-day free trial or monthly discount (terms vary). | Learn more on Xero's secure website |
QuickBooks Online Learn more on QuickBooks Online's secure website | 5.0/5 Best for Accounting software with business expense tracking features | $30/month Additional pricing tiers (per month): $60, $90, $200. | 50% off for first three months or free 30-day trial. | Learn more on QuickBooks Online's secure website |
FreshBooks Learn more on FreshBooks' secure website | 4.5/5 Best for Accounting software with business expense tracking features | $19/month Additional pricing tiers (per month): $33, $60, custom. | 30-day free trial or monthly discount (terms vary). | Learn more on FreshBooks' secure website |
Expensify | Best for Overall business expense tracker | $5/month Per user. Additional pricing tiers (per user per month): $9 under annual subscription. | N/A | |
Certify | Best for Feature-rich business expense tracker | $12/month Per user. Additional pricing tiers (per month): custom. | 14-day free trial | |
Zoho Expense | Best for Mobile expense tracking app | $0 Additional pricing tiers (per user per month): $5, $9, custom. | 14-day free trial | |
SAP Concur Expense | Best for Business expense tracker for midsize and enterprise businesses | N/A Quote-based. | 15-day free trial |
Our picks for
Accounting software with business expense tracking features
Xero
Learn more
on Xero's secure website
Starting at
$15/month
Additional pricing tiers (per month): $42, $78.
Promotion
30-day free trial
or monthly discount (terms vary).
Xero allows unlimited users at every subscription tier, a valuable feature for businesses where several users may need at least limited access to the system to run reports or analyze performance. Xero also has a customizable analytics dashboard that lets each user rearrange or hide panels.Read full review
Pros
- Unlimited users in all pricing plans.
- Integrates with more than 1,000 third-party apps.
- Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc.
- Simple layout and easy to use.
Cons
- No phone number for customer support listed.
- Entry-level plan limits bills and invoices to five and 20 per month, respectively.
QuickBooks Online
Learn more
on QuickBooks Online's secure website
Starting at
$30/month
Additional pricing tiers (per month): $60, $90, $200.
Promotion
50% off
for first three months or free 30-day trial.
QuickBooks Online is an industry leader in the accounting field, thanks to its strong feature set, scalability and ability to accommodate small businesses with more complex financial needs. With millions of users worldwide, your accountant will likely be familiar with it.Read full review
Pros
- Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.
- More than 750 app integrations, including live, in-house bookkeeping.
- Robust feature set includes thorough record-keeping, comprehensive reporting, excellent invoicing and inventory management, plus a capable mobile app.
- Daily phone support and 24/7 chat support in all plans.
Cons
- Expensive compared with the competition.
- Limited account users with each plan.
FreshBooks
Learn more
on FreshBooks' secure website
Starting at
$19/month
Additional pricing tiers (per month): $33, $60, custom.
Promotion
30-day free trial
or monthly discount (terms vary).
FreshBooks is a simple and affordable option for freelancers and very small businesses that don’t require many users and prioritize being able to operate on the go via mobile app. It’s an especially inexpensive choice for those who can work within lower-tier plans’ billable client limits, and all plans include time tracking.Read full review
Pros
- Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue.
- Intuitive, customizable invoicing capabilities compete with those of more robust accounting solutions.
- Track time and add billable hours to invoices in all plans.
- Weekday phone support in all plans.
Cons
- Lacks features that quickly growing companies need, like audit trails for accountants to review.
- Highest-tier Select plan only comes with two users (additional users add $11 per month) and lower-tier plans put limits on billable clients.
- Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.
Our pick for
Overall business expense tracker
Expensify
Starting at
$5/month
Per user. Additional pricing tiers (per user per month): $9 under annual subscription.
Expensify offers a good all-around option for most small and midsize businesses to track their business expenses.
Pros
- Integrates with popular accounting and HR software.
- Can scale as your business grows.
- Includes many features beyond expense tracking, including invoicing, bill pay and travel management.
Cons
- Pricing isn’t fully transparent.
- Per-user pricing can add up quickly if you have more than a few employees.
Our pick for
Feature-rich business expense tracker
Certify
Starting at
$12/month
Per user. Additional pricing tiers (per month): custom.
Promotion
14-day free trial
Certify business expense tracking software boasts a variety of core features that will automate most expense-related processes.
Pros
- Policy controls to help with compliance efforts.
- Supports more than 100 currencies and more than 60 languages.
- Integrates with well-known accounting software.
- Live support available 24 hours on weekdays.
Cons
- Need to upgrade to integrate with accounting software other than QuickBooks.
- Pricing isn’t fully transparent.
Our pick for
Mobile expense tracking app
Zoho Expense
Starting at
$0
Additional pricing tiers (per user per month): $5, $9, custom.
Promotion
14-day free trial
Zoho Expense offers a range of plans for various business sizes and needs. Its highly rated mobile apps for iOS and Android make expense tracking more convenient.
Pros
- Offers a free plan.
- All plans, even the free one, include popular accounting software integrations.
- Extensive list of expense management features, many included in the lowest-tier paid plan.
- Feature-rich mobile apps for iOS, Android, iPad, Mac and Apple Watch.
Cons
- User and receipt scan limits in free plan may necessitate upgrading to a paid plan.
Our pick for
Business expense tracker for midsize and enterprise businesses
SAP Concur Expense
Starting at
N/A
Quote-based.
Promotion
15-day free trial
SAP Concur Expense is powerful business expense tracking software that can work alongside Concur’s travel and invoice software to give your business a full spend management solution.
Pros
- Automated features make expense capture and reporting quick and easy.
- In-depth dashboards and reporting for business spend insights.
- Integrates with QuickBooks and Xero.
Cons
- Lack of pricing transparency.
Our picks for the best business expense trackers
Xero
Best accounting software with business expense tracking features
- $15 per month for the Early plan.
- $42 per month for the Growing plan.
- $78 per month for the Established plan.
Why we picked it: Xero is one of NerdWallet’s top-rated accounting software products. As an integrated accounting solution, Xero includes tools to help your small business track and manage expenses. The expense tracking features include receipt scanning, mileage tracking, a dashboard and reporting capabilities as well as an employee mobile app for easy mileage tracking and expense report submission. Choosing an all-in-one accounting solution like Xero that includes expense management can help you consolidate software subscriptions and, overall, save money. Read our full Xero Accounting review.
QuickBooks Online
Best accounting software with business expense tracking features
- $30 per month for the Simple Start plan.
- $60 per month for the Essentials plan.
- $90 per month for the Plus plan.
- $200 per month for the Advanced plan.
Why we picked it: As one of the most ubiquitous accounting solutions on the market, QuickBooks Online has built well-rounded software that includes invoicing and bill management, project management, payment processing, reporting and mileage and expense tracking. If you’re already using QuickBooks for small-business accounting, then you may not need to look outside the product’s existing features to meet expense tracking needs. The software lets you connect business bank accounts to automatically monitor and categorize expenses, scan and upload receipts and generate reports to monitor spending and expenses. And the mobile app lets you track expenses and miles, among other capabilities, on the move. Read our QuickBooks Online review.
FreshBooks
Best accounting software with business expense tracking features
- $19 per month for the Lite plan.
- $33 per month for the Plus plan.
- $60 per month for the Premium plan.
- Custom pricing for the Select plan.
Why we picked it: FreshBooks is NerdWallet’s top pick for accounting software for freelancers and self-employed professionals. If you’re a business of one with simple accounting, billing and expense tracking needs, FreshBooks is a strong and economical choice to manage all of those within a single software solution. The software gives you access to unlimited estimates and invoices, budget and billing management, unlimited time and expense tracking, automated bank imports, mileage tracking, tax reports and more in both the Lite and Plus plans. And if your business hires contractors or has a team of employees, FreshBooks offers plans with a number of additional features, including accounts payable and dedicated customer support. Read our complete FreshBooks review.
Expensify
Best overall business expense tracker
- $5 per user per month on an annual subscription for the Collect plan.
- $9 per user per month on an annual subscription for the Control plan.
Why we picked it: Expensify’s business expense tracking features include unlimited receipt scanning, the ability to import personal and business credit card transactions and next-day reimbursement on approved expense reports. Expensify integrates with a variety of other applications, such as Uber and Lyft for automatic receipt import, QuickBooks and Xero for accounting, and Zenefits and Gusto for human resources.
To access lower pricing for paid plans, business owners can use Expensify’s business credit card and pay their subscription annually as opposed to monthly. The company offers plans for self-employed entrepreneurs, too.
Certify
Best feature-rich business expense tracker
- $12 per user per month for the Certify Now plan.
- Quote-based pricing for the Professional plan.
Why we picked it: Certify’s software extends beyond expense management to include travel management, corporate credit cards and reimbursement payment processing. Certify’s business expense tracking capabilities for both plans include a mobile app for creating and submitting expense reports, receipt scanning, user roles and approval workflow management and other features. Both plans also enable a QuickBooks integration, but to integrate with other accounting and business-related software, you’ll need to upgrade to the Professional plan.
Zoho Expense
Best mobile expense tracking app
- $0 per month for the Free plan.
- $5 per user per month for the Standard plan.
- $9 per user per month for the Premium plan.
- Custom pricing available for more than 100 users.
Why we picked it: Zoho Expense offers a solid set of features in its free plan, including mileage tracking, personal card connections, customer and project tracking and accounting integrations. Upgrading to a paid plan opens a host of additional features related to travel, card spending and management, expense reports, budgets and more. Zoho Expense integrates with other business software products including QuickBooks, Xero, G Suite, Slack and Lyft.
SAP Concur Expense
Best expense tracker for midsize and enterprise businesses
Quote-based.
Why we picked it: As part of SAP’s ecosystem of enterprise-level business software, Concur Expense places an emphasis on data security, policy compliance and automated technology capabilities. That along with the company’s quote-based pricing makes it a likely fit for medium- and enterprise-sized businesses. Concur’s additional software for travel management and invoicing round out a complete spend management solution for businesses.
How do business expense trackers work?
Business expense trackers are typically accessible online or with an app on your mobile device. When you sign up with a provider, you will receive an account and access for a set number of employees.
Sign-up processes differ from product to product, but most trackers require some basic business and banking information. To get the most out of the software, you'll want to link it to a business checking account or business credit card. Your employees will also have the option to link their personal bank accounts so that they can be reimbursed for approved, business-related expenses after submitting receipts.
Business expense trackers organize expenses and highlight where you spend the most money. They can also help you avoid overspending. For instance, you can group all inventory or marketing-related expenses to see if you are maintaining your budget for each line item. These insights make it easier to sustain cash flow.
How to choose a business expense tracker
Most business expense trackers contain at least a couple of the following features. Determine which trackers have the best versions of the features you plan to use most.
Compliance
All expense tracking software must comply with the Sarbanes-Oxley Act (SOX), also known as the “Public Company Accounting Reform and Investor Protection Act.” The purpose of SOX is to protect investors by improving the accuracy and reliability of corporate disclosures.
In addition, all business expense tracker apps should provide data storage for up to seven years. This is required by the IRS should an audit request ever be made.
Integrations
Your business expense tracker should integrate with your accounting software for the smooth transfer of information between stakeholders within the company. Most applications will integrate with major providers, such as QuickBooks and Xero.
User interface
If employees will be submitting expenses on behalf of the business, it should be easy for them to get set up and use the software. Finding a platform that is simple and accessible can save you logistical headaches down the road. If you have employees outside of the country, you will want to make sure they can access the software in their local language and submit expenses in their local currency (the software should do the conversion).
Mobile access
Part of being user-friendly means also having a robust mobile app. After all, the best way to track expenses is to input them into your system as soon as possible.
To that end, your app should have receipt image capture technology. This allows you to snap pictures of receipts with your phone and upload them directly to the app. The best business expense trackers have optical character recognition, which automatically converts handwritten or printed text into machine-encoded text, allowing you to glean as much specific information as possible from receipts without manually entering any information.
Analytics
Your business expense tracker should be able to organize expense data to help you better understand where your money is going. For example, you should be able to see the differences in spending week to week, month to month and year to year. You should also be able to create budgets and assign expenses to a specific project to see if you are spending within your means.
Last updated on April 29, 2024
Methodology
NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.
NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software.
These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
