![]() Integration with accounting softwareĪn expense tracking app that seamlessly integrates with market-leading accounting platforms like QuickBooks or ERPs like Microsoft Dynamics makes manually reconciling expenditures a thing of the past. Employees and designated approvers need to be able to access the mobile app on the go, approve and upload documents, and easily submit and manage expenses from anywhere. This means paired back menu options and a sleek user interface are essential. When you’re looking for a mobile expense tracking solution, you need an intuitive mobile experience. Mobile accessibility and user-friendly interface This feature helps eliminate unnecessary manual data entry, reduce human errors, and keep up with fraudulent expense claims. The employee simply takes a photo of their receipt or invoice the technology extracts all the information it needs to process the expense and automatically categorizes it as a receipt or invoice. The ability to scan receipts with OCR technology makes expensing much more efficient. Here are 12 useful features to look out for when shortlisting your expense software options. ![]() Pinpoint spikes in spending and categorize by team, allowing you to investigate any issues before they affect your bottom line.įeatures to look for in a business expense tracking mobile appĭetermining which mobile expense tracker app suits your business needs means understanding what features you’d benefit from. Without this knowledge of expense data, you don’t know what’s being spent, why, or by whom, which can be debilitating for any business.īy tracking your business expenses, you can uncover expense patterns. Knowing how much you’re spending and who’s spending it, you can make data-driven business decisions to drive the company forward. There’s no chance of you overpaying on your tax bill. You can squeeze every penny out of your tax deductions by maintaining accurate records. Standardizing how you track your business expenses can create several benefits:Ĭompleting your company tax return with well-categorized and stored expense data is much easier than manually collecting and reconciling business spend. The importance of business expense tracking Some apps go a step further and directly integrate into leading accounting or ERP software, too, meaning important spend data automatically syncs across your tech stack, generating a single source of truth and improving visibility and control over finances. You take a picture of the receipt, and then the app automatically extracts all this data, decreasing data entry errors. ![]() Plus, with some apps (including Payhawk), you and your colleagues can also automate most of your expense data capture. The app removes the need to record expenses manually and captures expenditure data, including merchant information, transaction amounts, and dates. The software application makes expensing both effortless and accurate for the employee recording the expense. What is a business expense tracking mobile app?Ī business expense tracking mobile app is software designed to record and categorize business expenses from a mobile device.
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