Expense reporting software review

Save yourself time and stress. What is expense report software? Jump to:. Accounting integration Many systems integrate with popular accounting systems such as Xero, Microsoft Dynamics and Sage 50 formerly known as Peachtree , allowing for easy export of reports and eliminating the need for manual data entry. Expense compliance Helps enforce corporate spending policies and assist with fraud detection flagging expense overages, duplicate expenses, missing documentation e.

Approval workflow Streamlines the review and approval process by enabling managers to configure workflows according to expense type and other variables. Analytics reporting Customizable reports help forecast and budget for future expenses, identify spending trends and highlight cost savings opportunities.

Automatic expense import Connects to personal and corporate accounts and credit cards, allowing users to pick and choose charges to add to expense reports. Alternative Dispute Resolution. Alternative Medicine. Arts and Crafts. Broadcast Media. Building Materials. Business Supplies and Equipment. Capital Markets. Civil Engineering. Commercial Real Estate. Computer Games. Computer Hardware. Computer Networking. Computer Software. Consumer Electronics. Consumer Goods.

Consumer Services. Education Management. Environmental Services. Events Services. Executive Office. Facilities Services.

Financial Services. Fine Art. Food Production. Government Administration. Government Relations. Graphic Design. Health, Wellness and Fitness.

Higher Education. Human Resources. Import and Export. Industrial Automation. Information Services. Information Technology and Services. International Affairs.

International Trade and Development. Investment Banking. Investment Management. Law Enforcement. Law Practice. Legal Services. Legislative Office. Logistics and Supply Chain. Management Consulting. Market Research. Marketing and Advertising. Mechanical or Industrial Engineering.

Media Production. We use the solution in three countries. Tracking and managing expenses were a tiresome process for organizations. All the expenses were handled based on paper receipts, and there were no backups. If you lost some paper bill, you lost the information or cash. All this has now changed with expense management software to handle various financial functions. Expense management software helps your organization in multiple ways, especially by simplifying and automating a business expense entry, eliminates the paper trail, streamlines review, and reduces administrative effort.

The use of high-quality expense tracking systems has become necessary for all sizes of businesses and makes it easy to stay on top of your expenses. Businesses are making use of expense management software to process, pay, and audit employee-initiated expenses. The expense management system enables your employees to input expenses for approval through both browsers and mobile applications. The software analyzes your business overall expenses, controls excessive spending, and cost-saving opportunities.

It should allow you to have full visibility of and track employee use of business financial resources. Your expense management software should have full features that offer functionality such as invoicing and inventory.

The basic features and competencies each expense management system should have are:. This feature facilitates you stay on top of your resources, even from your mobile or tablets.

It tracks and follows expenses and stores them in robust databases with in-built search filters. Your software should have this feature to strengthen customer and external partner relationships, as well as helps companies to use their resources more appropriately. This way, they can take hold of early payment discounts, strengthen compliance, reduce risks, and so on. Expense tracking software mergers your expenses, categorize them, and attach them to any report, helping you to eliminate the risk of double entries and expense errors.

The software saves all the important details without the need to import the data manually, when the receipts are automated, as well as allows customization as you need. Your software should allow multiple users and they are secured with assigned role permissions and tasks. Everything you access is highly controlled and only admin can approve the data being inserted in the system.

The software you have chosen should integrate commonly with other systems such as time tracking software , payroll software, travel management, workforce management software , and accounting software. Look for the software that facilitates business travel and expense management. The automated app should include voice recognition, mileage tracking, and expense detection features to help you save time and increase efficiency.

One of the best things about the Expense management tools is, it can be used for a variety of programs too. The software track expenses allowing users to report and forecast future expenses and so some customization. Some of the most distinctive benefits organizations experience from using expense management software:. The expense management software allows your organization to simplify tracking and reimbursement of travel expenses.

Especially, the software benefits a lot for organizations with a high number of employees who frequently travel. The more your employees travel, the more they spend on their travel and business arrangements. Employees expect to be reimbursed as soon as possible, while employers need to ensure that the expenses comply with their companies policies and approved before being processed.

This process is simplified with the expense management software. While submitting or processing expense reports manually, it is possible for errors. The software is critical for maintaining data accuracy and allows no mistake. It helps you in differentiating legitimate and illegitimate expenses and organizes them in categories, and reports on every expense that are claimed accordingly.

Without any requirement for installing additional infrastructure, the software can recover saving fast on implementation cost. Being compliance with internal and external regulations is the top priority for any company, regardless of your industry. The expense management software ensures they track legislative changes automatically and update system data to reflect this.

With the expense management software, rules are rules. Employees will in advance know what they have to ask for and what not to. The software enables automated approval and payoff, motivating requestors and confirmers to act fast.

Pricing details are considered vital for any business when they determine to buy a software product. It is important to remember not to get saddled with long-term licensing and subscribe to long-term contracts.

Sage Intacct gives users control over more basic accounting aspects such as general ledger, accounts payable and accounts receivable. However, it also includes more advanced capabilities that allow customers to individualize the ERP product based on specific needs. The program enables the creation of configurable dashboards and customized reports.

This software is available for deployment both on-premise and through the cloud, making it an effective ERP application for a variety of companies. It offers role-based functionality to protect the security of information and to ensure that employees only access information that is relevant to them and that they should be privy to.

It extends a conventional view of financial and operational data, straight-forward consumable reporting and automated processes. Capabilities include research and development, supply chain management and real-time financing. Tipalti is an accounting solution that automates payables and invoice-to-pay-to-reconciliation procedures, allowing companies to adapt and thrive with updated practices while keeping payables hassle-free, safe and more efficient.

Its scalability enables users to pay a large population of suppliers for digital goods and services. Supplier and invoice management, payment reconciliation, tax and value-added tax VAT compliance and self-billing are its top features. Oracle Financials Cloud offers in-depth modern financial management tools that easily integrate with and scales alongside businesses.

It gives companies real-time insight to minimize costs and increase productivity. Essential capabilities include collections overview, quick receivables, expense report generation, revenue management, an accounting hub and more.

Odoo offers more than 10, integrated business applications for website building, sales, business operations management and employee productivity.

Its open-source model and strong technical foundation is developer-friendly and allows users to customize to meet their specific needs.

With that being said, it's good for businesses that may have unique requirements. Its integration capabilities allows the user to work from one centralized location, which ultimately can save an organization time. Zoho Invoice is an accounting ERP for small and medium-sized companies as well as freelancers. Users can craft sophisticated invoices, send payment reminders to patrons instantly and receive payments faster via the internet. It specializes in template personalization, workflow automation and seamless collaboration.

Expenses, time tracking, estimates and payments are some of its prominent features. QuickBooks Pro is a program designed to efficiently execute bookkeeping processes such as invoicing, cost tracking, receipt scanning and more while offering users a third eye on their finances by displaying the most current information in comprehensive dashboards and reports. Inventory and sales tax tracking, accounts payable management and bill management are some of its quintessential features.

Express Accounts is a small business bookkeeping program, suitable for organizations in all industries. It facilitates tasks such as report generation, sales documentation, integration and more. In addition to compatibility with both Windows and iOS, it offers mobile capabilities, providing on-the-go access to its users. It is an affordable option that helps businesses to streamline workflows and save both time and money. Sales, accounts receivable, reporting and business management are some of its accessories.

Vena Software offers financial planning and analysis that stores orthodox spreadsheets, templates and models in one database operated by a workflow engine. It leverages accurate calculations, robust data modeling and a controlled environment. Traditional spreadsheet abilities have intense IT consulting, high cost of ownership and flawed audit trailing.

It provides spreadsheets with real-time updates and the capability to roll back to previous versions to view and analyze changes over time. Its insightful analysis ensures smarter and faster decision making.

Xledger is a cloud-based financial management platform that combines multi-dimensional reporting and devolved budgeting in a single unified module. It automates processes such as bookkeeping, invoicing, asset management and bank reconciliation. For charities and nonprofits, it combines donor management and fund accounting. It helps professional services organizations automate and streamline processes through the entire project lifecycle, starting from workflow and ending with payment processing.

Users can grow without limits by tracking costs and maximizing profits. Sage cloud formerly known as Sage ERP Accpac helps businesses manage their finance and bookkeeping needs.

It offers handy accounts receivable, accounts payable and general ledger accessories to ease routine processes. Its general ledger accessory has robust consolidation features and easily ciphers intercompany transfers, making it suitable for companies with intricate corporate structures like multi-entities, franchises and companies with international subsidiaries.

It can scale and extend its capabilities to customers in several industries. Amilia is an accounting and recreation management solution that enables users to market, supervise and expand businesses such as community centers, camp facilities, dance studios and more.

Its noteworthy modules include recurring payments, attendance, reports, client database, activity calendars, memberships, online registrations and more.

AI enables users to keep up with updates, diminish the total cost ownership and capital investment and equalize analytics to make better business decisions. Global general ledger, close management, receivables and billing, cash management, reconciliation management and asset accounting are some of its idiosyncrasies.

Epicor Accounting aids users in scaling their business as well as meeting all of their accounting needs and staying true to driving growth for its clients.

It practices teamwork, passion, excellence, innovation, service and integrity values. Although it's not a standalone solution, it's available as a module within Kinetic, Prophet 21 and Eclipse. Core financial management i.

It includes support for the entire life cycle of a project and includes accounting, manufacturing, business intelligence and materials management inclusions. It maintains high levels of compliance to ensure government contractors are within successful operational parameters.

It is available with both cloud-based and on-premise deployment options and adheres to the ever-growing list of government regulations required of contractors. It helps users streamline daily tasks and complex accounting processes and provides users with valuable visibility into company metrics. Divvy is a free cloud-based accounting and expense management solution. It provides businesses with a secure financial platform to manage payments, subscriptions and eliminate the requirements of expense reports.

The swipe to books functionality helps make well-informed cash flow decisions, cut down on the losses before they happen and frees businesses from the worry of saving receipts ever again. Created by a merger of the two companies in , it effortlessly guides employees through every trip by populating charges into expense reports and automating invoice reports. It automates data capture and accounts payable, uses real-time data and AI to audit transactions.

It helps businesses keep an eye on what they are spending and there are no blind spots in the budget. AccountMate, owned by the AccountMate Software Corporation, helps medium and small-scale businesses by providing them with flexible and robust business accounting management.

It can be locally installed or used as a SaaS. It handles modular, financial, ERP and business management functions to help SMEs grow their traditional accounting methods. QuickBooks Enterprise is an accounting ERP that enables users to hold one million patrons, vendors and inventory items, , classes, 45 custom fields and no more than 40 users.

Users can manage bookkeeping, inventory, reporting, pricing rules, job costing,time tracking and more. Its noteworthy features include pricing, job costing, hosting, field service management, order management and more.

It connects features such as the general ledger, accounts payable, accounts receivable and tax management to ensure that information is portrayed across all accounting aspects.

It can be configured for needs ranging from distribution, manufacturing and point of sale to construction and retail-commerce. It streamlines accounts payable and receivable management and uses AI and machine learning to reduce tedious data entry and manual errors. As an end-to-end option, it connects businesses with suppliers and clients to assist them in managing cash inflows and outflows. Start-ups and micro-businesses find this free option helpful, especially for those on a limited budget.

AvidXchange is an accounts payable software company that helps mid-market-sized companies automate invoice and payment processing. Instead of replacing the existing system, it digitizes and transforms all systems electronically without letting the business lose control over the process. It automates all the payable processes and allows the accounting team to electronically review and direct the invoices based on rules and alerts set by the company.

Adaptive Insights is an enterprise planning SaaS solution that enables companies to effectively manage their finances, more accurately prepare for the future and make better decisions. It can pull source data from multiple sources to ensure that insights are accurate and remain up-to-date. It can visualize KPIs and create reports for easy sharing and distribution.

It empowers collaborative financial, workforce and sales planning with business agility throughout any enterprise.