by Stephanie Miles
Published on 15 October 2013
Business travelers have to be organized if they want to be able to claim all the deductions they're owed. Forgetting to ask for a hotel receipt, or losing an important document while traveling, can result in an expense that most likely will not be reimbursed by an employer. Meanwhile, simple computation errors that occur when professionals manage their own expenses with a pen and paper, or even an Excel spreadsheet, can lead to fines from the IRS.
Cloud-based expenses management apps are helping to relieve the burden on overworked business travelers, automating as many processes as possible to decrease the chance for human accounting errors. Here is our list of the four best expenses management apps.
Shoeboxed is targeted at business owners, freelancers, sales reps, travelers, bookkeepers, accountants, and consultants who are looking for ways to save time and money on back-end administrative tasks so they can focus on growing their business. Shoeboxed is an integral service for administering a business in the USA, Canada or Australia, or for anyone who needs to get organized. The Shoeboxed receipt and mileage tracker app scans receipts into usable data for maximizing tax deductions and expense reports. It also tracks your miles for more accurate travel reimbursements. Shoeboxed also human verifies every receipt so that you don't have to worry about accuracy.
Price: $9.95 / Month
Digitize, manage and automate your expense reports. Just take a picture of your receipts with your smartphone and Xpenditure will read out all data. Through your online account, you can manage expenses and create expense reports on the fly. Stop losing time and money on expense reporting. Instead of typing over your receipts into an excel sheet you can now scan receipts with your smartphone or webcam. Xpenditure reads out all relevant data like merchant, amount, VAT, currency, and and sends it to your online account. Use your online account to manage & report your expenses. Matching expenses with credit card statements becomes easy, just take a picture of your credit card statement and the app will match your expenses with the transactions on your statement.
Price: $5 / Month
Xero is award winning web-based accounting software designed for small business owners and their advisors. It is beautifully designed and easy to use. Users can stay up to date on business finances and cashflow, generate real time reports, and customize and send invoices. The accounting application allows users to import bank transactions, making reconciliation a quick and easy task. With Xero you can authorize anyone to access your accounts and collaborate on your finances thanks to the unlimited number of user logins. Xero integrates with over 200 other business applications, including eCommerce platforms, time tracking apps and CRM systems. Users can connect all the solutions they use to run their business, eliminating the need for tedious data entry.
Price: $19 / Month
eZ Account Import is not only a file converter or importer, it's an integrated application with QuickBooks. eZ Account Import helps you to directly import your online banking data into QuickBooks, without manual data entry. All you have to do is to download your online banking transactions from your online bank account; upload the file to eZ Account Import; review and select the transactions you want to import in QuickBooks; and then import into QuickBooks. You can also reconcile your bank statement after importing the transactions.
Price: $120 / Year