You’ve got expenses and it’s likely that you’re still managing them the old-fashioned way with paper receipts and spreadsheets. This works for a while when you’re smaller but as you grow you learn all too well that disconnected systems and processes cause delays and frustration – especially for clients when those expenses are billable to them and for employees waiting on reimbursement checks. It’s equally as frustrating for your accounting department who needs to re-enter data, scan supporting documents, and try to figure out how to code the expenses properly for financial reporting.
Luckily there are many great apps available today to automate the expense management process. Some of these work exclusively with entry-level accounting applications like Intuit QuickBooks while others integrate to virtually any accounting or ERP business application. Below are some of our recommendations and favorites to consider for your business.
Acquired a few years ago by SAP, Concur was one of the first major apps on the market for expense management and certainly is still a leader in the category. Integrated with Intuit QuickBooks and dozens of other accounting, ERP, and business applications, Concur leverages smart phones and mobile devices (and scanners) to capture images of paper receipts. It can automatically create expense reports and can match expenses to account codes in the general ledger for tracking expenses – even down to the customer, item, job, or class level as well as for vendor and employee reporting. Concur works with both the QuickBooks Online and QuickBooks Desktop editions with mobile apps for every major platform including Android, iPhone, BlackBerry, and iPad. The app is very easy to use and includes some great features like routing and approvals. They connect with a slew of apps including major airlines and travel sites, rental car companies, transportation services (like Lyft and Uber), and more.
Expensify is one of the top apps in the QuickBooks Apps.com marketplace and a ProAdvisor pick making it a must for your short list if you’re using QuickBooks. Integrated with smart phones and other mobile platforms, Expensify uses your camera to capture photos of receipts and can capture the merchant name, date, and amount automatically for expense reports. It also integrates with credit card feeds to match the transaction to the supporting documents and files. Expensify also has multiple levels of approvals and workflow to help route expenses to the right person for approval. It also integrates with major accounting and ERP systems like Sage Intacct, Sage 100cloud, Oracle NetSuite, Microsoft Dynamics, Xero, and more.
This is another great option for expense management. Tallie is a highly-rated option for Intuit QuickBooks and a QuickBooks ProAdvisor Pick. It does most of what Concur and Expensify can do with potentially deeper integration with QuickBooks (do your own due diligence but it looks pretty good to us). Tallie tends to work mainly with cloud-based applications like QuickBooks Online, Sage Intacct, Xero, and Bill.com but does also support QuickBooks Desktop.
Similar to the previously mentioned apps, Certify offers almost the same functionality with some unique features like Spend Smart which allows you to use business ratings and reviews to improve your spend management. It works with Intuit QuickBooks and major ERP and accounting applications from Sage, Microsoft, Oracle, SAP, and more.
Some other popular options to consider for Intuit QuickBooks and other accounting or ERP systems include AutoEntry, BigTime Time Tracking and Billing, American Express, Receipt Bank, Shoeboxed, Entryless, Greenback, Neat, Zoho Expense, Expense Point, SlickPie, Bento for Business, Nexonia Expense Reports, Itemize, Xpenditure, and a whole lot more listed on the Capterra.com directory.
Make sure to carefully review not only the features but also the integration points with your accounting or ERP software and other systems (like CRM or HRMS) to identify the best possible application for your needs. Many of the products in this category offer similar features at a similar price – the difference is truly in the level of integration and surrounding services such as application support so dig deep on your evaluations and make sure to ask the right questions.
Need help evaluating business applications? Contact us today at 440.352.4700 or send us an email and we’ll give you some advice. We know a lot of great QuickBooks resources and can help you when you’re ready to move up to a more sophisticated accounting or ERP system like Sage Intacct, Sage 100cloud, or Epicor ERP.Learn more about the many great options available for online retailers.