How Do You Keep Track Of Your Business Expenses?
 

If you own your own small business you know keeping track of your business expenses is extremely important. There are many different strategies that people take when dealing with this issue from keeping a shoebox full of receipts to tracking everything on their computer. Some things can be harder to track, like mileage, especially if you switch between a company vehicle and a personal one. Here are 6 apps I have heard great things about.

1- BizXpenseTracker

This app was designed specifically for small businesses and contractors. It is designed to help you keep track of all your expenses, hours worked, and miles driven for work purposes.

2- Concur Mobile

This app is specifically designed for small businesses whose employees travel frequently. Concur Mobile is completely free for Android and Apple users. Being designed for frequent travel, you can book flights and hotels in the app along with approving travel spending for employees.

3- Expensify

This app is similar to BizXpenseTracker in many ways but they do differ. This one is free and gives you the option to take photos of your receipts to include in your reports. It also helps you create expense reports in as many different ways as you could possibly need.

4- Mileage Log

This app is specifically designed to track your employee’s miles and to make reimbursing them fast and easy. It is also up to date with the IRS rates to make reimbursing even easier for the employer.

5-  Shoeboxed

This app is specifically designed for tracking receipts. This will make it easy for tax write-offs and for employee reimbursement. You can even mail your receipts to the company and they will input the information for you.

6- Taxbot

This is the only app on this list that I have personally used. It is designed for small business owners and it used to track all expenses as mileage. As soon as you start driving with your phone in the car it will track your distance and you can later go in and log it as business or pleasure. You can also add receipts with a description of what they were for and a photo of the receipt.

All 6 of these apps have a specific goal. If this is something you are struggling on with your business, look over these and see what best fits your needs. You can always change if you find something else might be better. Knowing where your money is going is also very important. Read here about how to spend your marketing budget.

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