The Best Receipts and Expense Tracking Software buyers guide by Inspector Jones

What’s the simplest way to manage expenses and receipts? We reviewed the top receipts and expense tracking software, to help you stop dealing with spreadsheets and small pieces of paper

The Receipts and Expense Tracking Shortlist

What To Look For

Receipts and Expense Tracking software is great for individuals, small businesses and teams who want to organise their spending. These tools are designed to save you effort on data entry, and handling many small pieces of paper. You’ll be able to simplify expense reporting, accounting, bookkeeping, and tax preparation.

Basic functionality

The basic functionality must work well, be easy to use and intuitive. Look for:
  • Receipt scanning
  • Data entry
  • Automatic processing (or human verification) to convert receipts into categories, dollar amounts, etc.
  • Ability to categorise, tag and add comments

Advanced functionality

You may be interested in software which supports more advanced features. Consider whether you need:
  • Expense reporting and reimbursement - look for integrated workflow, approval and payments if possible. I recommend Expensify.
  • Support for different expense types - like mileage, time, and travel expenses. Some software will automatically calculate these (e.g. mileage based on maps or GPS, and time based on clocking on and clocking off)
  • Support for scanning and recognising other documents, such as business cards, to be automatically filed. I recommend NeatCloud and NeatMobile.

Questions to ask your vendor

  • What mobile devices do you support? Look for full apps for your preferred devices (iPhone, Android, Windows Phone, iPad, etc.), that support the entire set of functionality - data input, reporting, approvals, and camera integration.
  • What accounting packages do you integrate with? Look for pre-built support to automatically load data into your current accounting software.
  • Are you compliant with tax / government regulations in my country - particularly, make sure you understand whether you need to retain a paper copy of receipts.
  • What pre-built reports are available?
  • Is the data verified for correctness? Some vendors use manual (human) verification