The easiest way for a small business to lose money is through sloppy time and expense reporting. In our fast-paced always on the run world, spreadsheets and shoeboxes just won’t cut it anymore. If you’re using either to collect information on these two key business metrics, then you should check out this list of time and expense tracking apps and solutions below.
Available online or on your mobile devices (and often on both), these apps and solutions streamline time and expense collection as well as reporting. Some even include workflow features for expense approvals and invoicing functionality so you can bill your clients directly for time spent and expenses incurred.
Because so many project management, accounting and HR/benefits solutions offer time and expense tracking functionality, we slimmed down our list by focusing on the ones that stand on their own. Rest assured however, most offer robust integration with the rest of your systems.
That said, here’s our list of time and expense apps and solutions.
Time and Expense Tracking: Time Only
The time and expense tracking solutions in this section offer time tracking and reporting only. If that’s all you need, you’ll find plenty to like here.
Tsheets is a robust time tracker that offers simple payroll, timesheet approvals, mobile apps and job costing reports. As you can see below, they also help you keep an eye on overtime hours:
Tick treats your time as your inventory and it shows in all the care they take in tracking your “stock”. The truly handy feature here is the ability to track actual time against budgeted time, a feature that not only alerts you to upcoming budget issues, but also helps you plan the next project better.
The standout feature of Everhour is its ability to integrate directly with your project management tools. Here’s an example of their integration with Basecamp:
If you really want to know what your staff works on every moment of their day, even right now, then WorkPuls will help you do just that. As you can see below, once installed, you can keep an eye on your employee’s productivity and help them become more effective.
Hubstaff also enables you to keep track of what each member of your staff is working on. You can even take regularly scheduled screenshots that show you how they spend their time. One of the unique features of Hubstaff however, is how you can set up automatic payments to your staff based on the time reported in the solution.
Chrometa calls their solution, “passive timekeeping” as your timesheet is created fro you as you work. This is a pretty slick take on timesheets and saves everyone a lot of time.
Our final time tracking only app is Zedtimesheet. This app integrates directly with QuickBooks so you never have to double enter any information.
Time and Expense Tracking: Expense Only
As you can see below, turning in expenses using Expensify is a snap (of a phone camera). You can also import your credit card expenses directly, a true time saver.
Neat uses character recognition to turn your receipt photos into real expense data in its system. From there, they integrate with many other systems where you can communicate, store and invoice your expenses.
ExpensePoint enables you to upload scanned receipts as well as import your credit card transactions, but where it really shines is in its approval workflow and auditing tools.
As you can see below, you can send your piles of receipts to Shoeboxed and they will scan them in and organize them into neat little categories that you provide. You may worry that the “human touch” will make them more expensive however, their solution is priced competitively against the others on this list.
With the motto, “always exceed expectations”, your sure to expect great things from webexpenses. As you can see by their feature list below, one of the most robust on this list, they don’t disappoint:
Zoho Expense brings the same solid functionality to expense management as they do to the rest of their business management suite.
Last but definitely not least, ExpenseBot offers something different from the other apps and solutions on this list: they create your expense reports for you. “We’ll read your receipts, match them to credit card charges, and identify what’s reimbursable. We then create a smart expense report for you automatically, letting you just review and submit!”
How handy is that?!
Time and Expense Tracking Apps and Solutions: Time and Expense Tracking
ClickTime helps you use the time and expense information you’ve collected to manage your team’s productivity and utilization more precisely. For small businesses looking to manage costs closely, that feature is super-useful.
Timesheets calls it’s solution, “Total Workforce Management” and, as you can see below, they offer a lot of the features and functionality you need to well, manage your workforce:
A full-featured solution, Dovico offers solid time and expense management including automated notifications, approval workflows, time lockouts for managing payroll cutoffs and multiple currency support.
A solid entry in the time and expense arena, MindSalt offers everything you need to stay on top of your time and expenses including payroll and QuickBooks integration.
Despite its names, GetMyTime also offers expense management. Built to integrate directly with QuickBooks, it’s a fine choice if you use that bookkeeping solution.
eBillity is sort of a hybrid. At the basic level, it enables you to manage time. As you upgrade your account however, you’ll get expense management and even invoicing:
Time and Expense Tracking Apps and Solutions: With Invoicing Functionality
One of the most well known solutions for freelancers and small businesses, FreshBooks offers an end-to-end solution for managing your time, expenses and invoices.
Harvest is a fully loaded time, expense and invoicing solution. Their standout feature is how they enable you to track time from within a whole bevy of solutions:
BigTime‘s solid time and expense management features are supported by a robust reporting functionality that truly gives you a view into your business:
Hiveage enables you to manage your billing from estimate to invoice including time and expense reporting in between.
Time and Expense Tracking Apps and Solutions: Apps Only
XpenseTracker is an app for tracking and reporting expenses, mileage and time. You can create PDF reports using one of the over dozen templates supplied or create your own.
Mileage Log+ is an app for folks who need to track mileage for tax deduction or reimbursement. They offer predictive input, auto-entry, auto-calculation, and quick access to frequent trips. The app will also create useful data ready to search, sort, and generate email reports.
Smart Receipts Pro
Smart Receipts Pro turns your Android phone into a receipt scanner and expense report generator. All you need to do is take pictures of your receipts and email yourself a PDF and CSV file at the end of each week.
Whether you need to manage your time, expenses, invoices or all three, there’s an app or solution that will fit your business on the list above.
Expenses Form Photo via Shutterstock