There’s an App for That!

A special thank you to guest blogger Ellen Marvin, Director of Core Services at Sobel & Co. for this important information:

Everyone knows that no matter what task comes to mind … there’s an app for that. With the proliferation of app technology it can be overwhelming for a business owner to identify the best of class in any given category. That being said, there are some apps that have proven themselves over time in critical categories. This article looks at some of the best expense reporting apps currently available

Expensify is the AICPA recommended solution for electronically tracking expenses and, it has a great tagline: Expense reports that don’t suck! It integrates receipt, mileage tracking, expense reporting and company credit card reconciliation with many small business accounting programs such as QuickBooks® , Intacct® and NetSuite®.  Pricing ranges between $5 – $9 a month depending on the level of approval process and expense classifications needed.

Receipt Bank eliminates the need for data entry by extracting pertinent information from your receipts which can be submitted via the mobile app (take a picture and send!), Dropbox, email, and other options. Receipt Bank has one of the best OCR technologies available, but it does not have a mileage tracking option. However, this can be done via integrated apps or other entry methods and the ability to auto-publish information to accounting programs such as QuickBooks Online® (QBO), Bill.com™, Xero ™, FreshBooks and Sage® One, as well as some others, make this app a top choice. Plans start at $15.00 – $25.00 for single/multi user plans.

Big businesses have used Concur® for years to help manage travel and expense reports and credit card charges. This app also syncs with many of the aforementioned accounting systems. What is nice about Concur is that each user receives a free TripIt® Pro account, thus making Concur a complete travel and expense management solution. Forward travel confirmation emails to your tripit.com address and TripIt® compiles all the details. Once the trip is finished, the user simply clicks to create an expense report from that trip plan. With electronic receipt capture and credit card integrations, this app is a powerful tool for any size business with a lot of travel expenses. Pricing is about $8/user per month.

Some worthy mentions also go to:

MileIQ® – Tracks business and personal mileage via GPS technology while you drive and provides IRS compliant reporting

QBO® Self Employed – Tracks business and personal expenses, has automatic mileage tracking, and can be used in conjunction with full QBO Accounting product.

Tallie – Incredibly strong QuickBooks®(both desktop and online) and Bill.com ™ integration allows for speed and accuracy in expense reporting.