How you use it is up to you.ĭo you need to track every employee expense? Are you able to give people more freedom? Perhaps you’ll be the only one in your expense tool, so you can opt for a free or cheaper platform that is designed for a single user. When you’re a freelancer or a small business owner, you need all the resources that you can get, including a dedicated expense reporting tool. The only question is which tool are you going to use to do this? What kind of expense tracking do you need and how can you make sure that your business pays for its own expenses, even if it can’t afford them right out of the gate. Of course, you should know where your money is going. It’s not about why you should be tracking expenses. However, that’s unnecessary because with modern expense tracking tools you can even help yourself learn what does and doesn’t count as a business expense. Too often, business owners who are just starting have the mentality that they’ll have to “eat a lot of expenses” because they’re starting out on their own from scratch and might have to cut into their personal budget and finances. Security isn’t just an important factor-it's essential. Even if it’s just a receipt for the $200 bill from your team luncheon, what about payments from your clients and other expenses? What if you link your bank accounts to the expense reporting tool? While you might not think about security right away, you’re reporting business financial information and that’s highly sensitive. There are also plenty of basic solutions that just take the hassle and homework out of expense reporting and make sure that you get every penny accounted for properly so that you’re not spending your personal money on business expenses when it’s not necessary. Of course, you don’t need all the bells and whistles. Today’s expense reporting solutions have some pretty impressive features, including tracking recurring expenses, scanning receipts, and even generating QR codes to help you organize and streamline your expenses and expense management. If you don’t get that from the gate, you should move along to another tool. And for even more help automating your day-to-day operations, ask how a partnership with Smith.ai can take your lead intake, appointment scheduling, and sales development to the next level with dedicated call and message answering solutions.Ī good expense report app has several different things, but first and foremost it is easy to use. Then, we’ll take a look at the top solutions available today to help you track, manage, and automate all of your expense tracking (and any other financial tasks you desire). If, however, you’re like most small business owners and would rather be running your business, it’s time to upgrade.įirst, let’s talk about what makes a good expense report tool.
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