Apart from expense receipts, a business also generates sales receipts, for the goods that it is selling to its customers. Such receipts are also generated when a business buys a service, for example, maintenance services, cleaning services, furnishing service etc.Īnother kind of expense receipts are reimbursable receipts that employees submit to the accounts team. These receipts are also generated when a business invests in fixed assets like furniture, machinery, any other equipment required for business use. It can also be generated for the raw materials a business buys for production. Such receipts are generated by suppliers from whom the business buys goods for resale. When it comes to household expenses, receipt tracking helps with keeping a check on the total expenses of the family.Ĭompanies usually deal with two kinds of receipts. It also helps you keep an eye on your business’s total sales. Receipt tracking helps business owners know where their money is going. It is the process of storing and filing your receipts in an organized manner to keep a track of your expenses.
Knowing that you can amalgamate all of your figures, quickly and easily is a large part of the appeal of software like this. In addition, being able to use the same data from the best expense tracker apps and software with the best accounts software is vital too. We look for versatility, flexibility and how well the package integrates with things like the best tax software. When testing the best expense tracker apps and software we'll try each selected package on a compatible mobile device, or laptop, depending on the platform it has been designed for.įirst and foremost, we look for ease of use because simplifying the process of managing your finances is the whole point of an expense tracker. Best expense tracker apps and software: How do we test? Ensuring that you'll have someone on hand to help you through any issues further down the line is always a bonus and in many ways one of the most important aspects to think about. On top of that we've also taken a look at what levels of support are available with expense tracking software.
You may well be looking for an expense tracking system that will be used by many different employees, which means that usability is a big part of the package. However, we also keep an eye on just how easy expense packages are to use in day-to-day workplace scenarios. The software has been evaluated for power, performance and reliability. We've spent time using the best expense tracker apps and software collection assembled here to see just how well suited it is for business use.
Some of these are cloud-based, and allow you to use an app on your smartphone or other mobile device to not only enter the amount but also scan the receipt to create a digital image. This makes it much easier to keep a copy and file it away in case it's needed by your accountant or even someone from your tax office, plus in just using your phone you can do this on the move.Īdditionally, the ease by which document scanning can now be done by an app means that you can keep on top of deductible expenses, helping ensure you bank the profit due to you and pay less on taxes.