To choose the right solution for your business, you’ll need to consider your needs and whether the services offered will benefit your business. Here are some common features you want to look for when considering which solution is the best for you.
ORC Intelligent Scan
Optical character recognition, or OCR, technology scans a document photo, such as business cards and receipt images, and automatically fills in the required text fields in the program. This can save you the time it would otherwise take manually inputting data. OCR technology isn't always 100 percent accurate, so double check to make sure that the correct info and amounts have been entered in the right places before submitting expenses.
Some services’ app comes with an online web expense-reporting software account through the manufacturer. Xpenditure, Expensify, Concur and Taxbot all provide you with an online, cloud-based program that automatically syncs with your app and saves your information to the web in addition to the app on your device. Pricing varies; some programs include this feature in the app's purchase price, while others require you to pay a monthly subscription fee.
Expense tracking apps all perform similar functions, but a major difference we noted between each app was with the dashboard: Each has a different layout along with different ways of performing those functions. Some apps, for example, have split view screens, sidebar navigations and multiple-step prompts to record expenses while others have a more pared down look with simple-to-execute functions.
All of the apps on our recommended services list below let you create your own categories to classify each transaction (though the process varies between each app). Additionally, some apps, such as Receipts Pro, have predesignated categories for both business and personal expenses, so you can use this app both on and off the clock.