How To Make More The Best Receipt-tracking Apps For Professionals By Doing Less

Small businesses need a way to track their expenses. We'll tell you which receipt-tracking apps they prefer.

Modern receipt-tracking apps help businesses track and calculate a wide range of expenses.
They digitize documentation and simplify reimbursement and taxation.
Though apps do most of the work, businesses should establish best practices to organize paperwork.
This article is for small business owners looking to streamline their receipt-tracking efforts with specialized apps.

Small business owners need to deal with receipts and expense reports quickly and efficiently. These affect not just your balance sheet, but other responsibilities like annual taxes. Receipt apps let you photograph and create a digital copy of your receipts. From there, you can file your receipts directly within the app. The right receipt app will keep you from losing your receipts and save you from having to dig through a pile of receipts come tax season.

Which receipt-tracking apps do small business owners prefer?

There are many options for receipt-tracking apps, ranging from free apps with limited features to advanced ones that require a monthly subscription. To help you determine the best solution for your business, we examined what makes a good receipt-tracking app and asked business owners which ones they prefer. [Read Related Article: Learn the Different Accounting Types]

Here are the top three solutions that small business owners told us about, and a few others you might want to consider.

1. Expensive is a popular all-in-one solution.

Pricing: Starts at $4.99 per month

In our conversations with small business owners, the name that popped up most consistently was Expensive.

"Expensive does a great job of pre-organizing receipts, but you can organize them to your liking in the app as well," said Tawnya Schultz, financial freedom coach at The Money Life Coach. "It does a lot of the heavy lifting for me, and it's super simple and quick to use, so I'm not up for days doing expense reports or taxes."

The service starts at $4.99 per month for individuals and $5 per user per month for business plans. Business plans have high-powered features like automatic expense reporting and company credit card monitoring. Most of the professionals we polled considered it a worthwhile investment because of how automated it is.

"Manual entry is a thing of the past for users of Expensive because of the software's Smart Scan, technology that automatically scans, inputs, and tracks business expenses," said Yaniv Masjedi, chief marketing officer at Nextiva,

"However, its unique selling proposition is that it can automate any possible expense tracking as long as it's within the software's current capabilities, including an estimated mileage usage for your vehicle using the wonders of GPS."

2. Rydoo is an inexpensive cloud-based option.

Pricing: Starts at $7 per user per month

Brian Patrick, a home expert, and CEO of Pest Strategies said he relies on Rydoo for his company's expense-tracking needs.

"Rydoo is the best receipt-tracking tool because it is cloud-based, inexpensive, feature-rich, has OCR scanning capabilities, and allows enterprises to limit access according to employees' roles and responsibilities," he said.

Plans are billed annually and start at $7 per user per month for the Team plan, which covers up to 50 active users. It's $9 per user per month for the Growth Plan, which covers more than 50 active users. Both plans include OCR scanning, mileage expense reporting, and approval flow. The Growth Latter Plan includes features like expanded expense policy rules and per diems.

3. AutoEntry simplifies receipt scanning and organization.

Pricing: Starts at $12 per month

Glen Wilde, CEO and founder of Diet to Success, said that AutoEntry more than meets his company's receipt-tracking needs.

"I currently use AutoEntry for managing and organizing all of my receipts," he said. "It syncs well with the most popular accounting software programs. I can scan receipts and invoices and have a digital copy on my phone in seconds. Once [it is] uploaded, the system automatically extracts the numbers and inputs it into the system. There is no manual input required. This is a huge plus because even the smallest human error can completely compromise accuracy and snowball into huge errors. It's a major benefit for someone like me who isn't a strong number-cruncher."

AutoEntry uses a credit-based pricing model that's billed as a monthly subscription. That means you pay for credits to use for invoices (one credit), bills with line items extracted (two credits), bank statements (three credits per page), and so on. Unused credits roll over to the following month.

Plans range from the Bronze tier, which costs $12 per month for 50 credits, to the Platinum tier, which costs $98 per month and includes 500 credits.