Expense Management Software For Small Business

For small business owners, managing expenses can be a real hassle, but luckily, there are plenty of tools out there to help. Whether you're a freelancer, a startup, or running a small team, finding the right software can make all the difference. Here’s a rundown of some of the best expense tracking solutions, each with unique perks and pricing to fit different needs.

If your business already uses QuickBooks for bookkeeping, its built in expense management is a no brainer. It syncs directly with your bank accounts to automatically track expenses and categorize them. Plus, the receipt scanning feature saves you from dealing with piles of paper receipts.

Best For: Small businesses already using QuickBooks for accounting
Key Features: Receipt scanning, expense categorization, and detailed financial reporting
Pricing: Starts at $30/month (expense tracking included in the package)

A budget friendly option, especially for small teams. Zoho Expense has a free plan for up to three users, making it a great starting point. It automates expense tracking and receipt scanning while integrating seamlessly with Zoho Books and QuickBooks.

Best For: Small teams looking for a cost effective solution
Key Features: Real time tracking, approval workflows, and multi currency support
Pricing: Free for up to 3 users paid plans begin at $4 per user/month

Freelancers and small businesses love Expensify for its simplicity and efficiency. Its SmartScan feature makes receipt tracking effortless, and with next day reimbursements, you won’t be stuck waiting for payments.

Best For: Freelancers and businesses needing fast reimbursements
Key Features: Unlimited receipt uploads, next day reimbursements, and mileage tracking
Pricing: Starts at $5 per user/month (billed annually)

While FreshBooks is mainly an accounting tool, it has strong expense tracking capabilities, making it ideal for freelancers and solo entrepreneurs. Its easy to use interface is perfect for those who don’t have much accounting experience but still need a reliable solution.

Best For: Freelancers and small business owners with basic accounting needs
Key Features: Receipt capture, expense categorization, and bank account integration
Pricing: Starts at $20/month (includes invoicing and expense tracking)

Ramp is a solid choice for startups and small businesses looking for a free option with corporate cards and automated expense tracking. It even uses AI to handle categorization and enforce spending policies, which can save businesses time and effort.

Best For: Startups and small businesses needing automated expense tracking
Key Features: Real time tracking, automated workflows, and integrations with QuickBooks, Xero, and NetSuite
Pricing: Core features are free Ramp Plus starts at $15 per user/month

For small teams already using QuickBooks, QuickBooks Time is an excellent solution for tracking time, payroll, and project costs. With mobile friendly features like GPS and geofencing, it can help businesses save an average of 11 hours per month.

Best For: Small businesses using QuickBooks that need time tracking and payroll integration
Key Features: Real time tracking with GPS, payroll integration (QuickBooks, ADP, Gusto), scheduling, and detailed reporting for labor and billable hours
Pricing: Starts at $20/month + $8 per user (Premium) $40/month + $10 per user (Elite) with a 30 day free trial

Every business has different needs, so the best expense management tool depends on what you're looking for. If you need something simple and budget friendly, Zoho Expense or Expensify might work well. If your business already runs on QuickBooks or FreshBooks, sticking with their built in solutions makes sense. And for startups looking for AI powered automation, Ramp is worth considering.

At the end of the day, the right software should save you time, keep your finances organized, and help you focus on growing your business instead of drowning in receipts!