If you’re looking for a way to manage your business expenses, you should consider using an expense tracking app. Expense management can be tedious and time-consuming without the right tools. With so many apps available in the market today, it’s easy to use one that suits your needs! In this blog post, we will discuss why businesses should look into expense tracking and how they can get started with an expense tracking app of their own.
Expense tracking apps can save you money on taxes
Whether it’s tracking receipts, mileage, or purchases, Shoeboxed offers the best options to ensure that everything is accounted for to save and maximize tax deductions. In addition, this expense tracking app goes into great detail about how much money has been spent per category so businesses can better budget their funds.
Tracking expenses with an app is much easier than using a paper journal
For small businesses, tracking expenses with a paper journal is tedious, time-consuming, and can lead to errors. Expense tracking apps have improved over the years by offering robust capabilities that make it easy for businesses to keep tabs on how much they’re spending and where their money goes!
With an expense tracker app like Shoeboxed, you’ll never miss another receipt or misplace your mileage log again!
Tracking expenses with Shoeboxed is more intuitive than tracking on spreadsheets
With Shoeboxed, you won’t have to worry about formulas or remembering which cell is for what because it’s all set up in one place!
Excel lacks the ease of use and intuitiveness of an app like Shoeboxed. With this app, it’s easy to categorize your expenses into sub-categories (e.g., food, hotel) to better organize the data and see where all funds are being spent.
The best expense tracking apps will help you keep track of your spending and make it easy to categorize the different types of expenses
Your receipts are about to get a whole lot easier on the eyes. As soon as your receipt has been scanned, Shoeboxed categorizes the information by business, the amount spent, date, etc., so that you can see all of this information at one glance – no more scrolling left-to-right through an endless spreadsheet! The data is searchable and editable whenever users need to make changes or add additional details after scanning their documents in real-time.
For frequent travelers, it’s hard to keep track of your work-related travel trips and making sure you’re receiving the correct reimbursement for your time. With their GPS-enabled features, Shoeboxed makes it easier than ever before to manage expenses through reporting on mileage driven, so no more guessing how many miles were logged while out running jobs and errands; It’s always accurate!
Expense tracking apps allow you to export data for tax purposes easily or send reports straight to your accountant if needed
Exporting and importing data is simple with Shoeboxed. The expense tracking app allows you to export your expenses in various formats, including .pdf and .csv files, which can be used for tax purposes or sent directly to your accountant! This will significantly improve your mood and reduce stress during tax season every year.
For larger companies, like tech or software creators, their SaaS accounting teams will be able to easily sort through company/employee expenses.
You can send in images of receipts
Digitally archived receipts are safe from being lost in the depths of your shoebox. The IRS and CRA will accept digital images, so you don’t have to worry about losing any crucial documents during an audit!
Shoeboxed is an expense tracking app that makes it easy for you to create expense reports directly from your phone, export them right into the system of whoever needs those records quickly and efficiently without ever needing to type anything in or scan anything out. Now, with just the simple task of taking images of your receipts with your Phone camera than filling in forms by hand at home or even logging onto a computer within office hours for programs like Quickbooks — no longer do you have to wait days before getting any actionable data back about what’s happening inside your company where every dollar counts!
Shoeboxed lets workers work smarter rather than harder to spend less time inputting tedious information and more time helping to build your business.
Shoeboxed will sort through your receipts
Receipt management can take days to go through and organize everything properly. Suppose you haven’t calculated your expenses but kept all your receipts. In that case, as an expense tracking app, Shoeboxed can analyze your data and let you know how much money is left in each category to better budget accordingly.
All you have to do is gather all of your receipts in an envelope and send it over to Shoeboxed. The team will then manually sort through your receipts and convert your information into online data.
The best expense tracking app for small businesses will keep track of receipts, mileage logs, purchase history, and other categories like food/drinks or hotel stay to provide users with a complete picture of their expenses. With Shoeboxed’s intuitive interface and features like exporting reports directly to an accountant, it’s easy to see why this expense tracking app should be on the list of considerations when looking at ways to streamline business processes!
At Shoeboxed, you can create an account and get started on the 30-day trial right away with your chosen plan. You’ll have 30 days to use the features of this subscription before deciding if it’s for you – no need to worry about getting locked in or wasting any time on a product that doesn’t serve your needs.