Best apps that take the pain out of business expenses

Oct 07,2015

You’ve got countless receipts hidden in the recesses of your bags and the crevices of your desk, and you loathe spending your precious time getting every bit of paper organised. Fortunately, technology can provide some quick solutions. Millennium Hotels and Resorts picks out five of the best.


This app – which is compatible with both iPhone and Android smartphones – keeps track of business expenses, mileage and billable time. Use Expensify to scan receipts and say adios to your paper trail. Another distinctive feature is its sync function, which imports credit card transactions so that expenses can be automatically pulled into reports. It also supports multiple expense reports that can be converted to PDF files.


Expensify

Credit: Expensify



Referencing how most people kept track of expenses in the pre-digital era, Shoeboxed is an expense-tracking app that lets users capture receipts in a snap, before archiving them as a reimbursement or a deductable. Like Expensify, it is equipped with a mileage tracker. In addition, it auto-imports receipts received via Gmail, and syncs with any notes or receipts stored in Evernote. Shoeboxed can be downloaded on both iPhone and Android smartphones.


Designed specifically for small businesses with employees who travel frequently, this free app, which is available to Android, iPhone, iPad and Blackberry users, generates fuss-free expense reports. It has been integrated with TripIt, allowing road warriors to view travel itineraries and book hotels during their trip. On top of this, the app can be linked to credit cards so that charges are imported automatically.

BizXpenseTracker


Silverware

Credit: Silverware Software


Developed chiefly for consultants, this iPhone app is packed with handy tools. Besides expenses and mileage, it also keeps tabs on the time spent working. You can customise expense categories and subcategories and create expense reports at the touch of a button, which can then be backed up in Dropbox. The templates that come with this app provide all the critical information required by accountants. However, it has one major drawback: there’s no free version.


The brainchild of two American university students, this free app is perfect for solo entrepreneurs looking for real-time information on their finances. It syncs up credit cards as well as PayPal and bank accounts, providing a more accurate picture and prediction of cash flows. However, it is currently only available on iPhone.

Read more business travel hacks.

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