Traditionally, returning from a trip meant sorting through receipts and manually creating an expense report. It was often a task many put off for weeks. Today, with modern expenses software, you can instantly capture receipts and submit claims on the go, making life easier for both employees and your finance team.
These platforms streamline the tracking, reporting, and approval process, ensuring small businesses can manage budgets effectively. Key features include mobile apps, real-time expense tracking, and integration with accounting systems.
How to Choose the Right Expenses Software
You should look for these features and benefits when choosing expenses software:
- Ease of Use: Employees and administrators should find the system simple and intuitive.
- Mobile App: Essential for capturing receipts and submitting claims while on the move.
- Automated Approvals: Saves time by simplifying the approval workflow.
- Digital Receipt Capture: Reduces the risk of lost receipts and ensures compliance.
- Mileage Tracking: Automates mileage reimbursements, saving time and paperwork.
- Integration with accounting software: Streamlines workflows and eliminates data entry errors.
Best Expenses Software for Small Businesses
ExpenseIn
Simple, affordable, and packed with features, ExpenseIn is a standout choice for small businesses. It offers a mobile app for capturing receipts, mileage tracking, and seamless integration with popular accounting systems like Xero, NetSuite, and QuickBooks. Its customer-centric pricing model means you only pay for active users.
Key Features:
- Mobile App: Capture receipts, submit expenses, and track mileage effortlessly.
- Automated Approval Processes: Customisable workflows to suit your team structure.
- Real-Time Reporting: Provides clear insights into spending and compliance with UK tax law.
- Card Reconciliation: Automatically matches transactions with receipts.
- Add-Ons: Invoice approval for suppliers and ad-hoc expense reimbursements for non-payroll users.
Pricing: Available on request. Flexible active user plans mean you only pay for users who create or submit an expense within any given month.
Caxton
Caxton offers an all-in-one finance platform that simplifies expense tracking with features like loadable corporate cards and bookkeeping integration. You can manage everything through Caxton’s dedicated app and sync with your accounting software to ensure seamless expense management processes.
Key Features:
- Mobile App: An easy-to-use app that allows you and your employees to manage expenses on the go.
- Corporate Expense Cards: You can get as many Sterling or Multi-Currency debit cards as you need.
- Connect Your Other Cards: As well as prepaid and virtual cards, you connect any card to the Caxton platform to record your business expenses in one place
- Integrated Bookkeeping: Sync with accounting software for seamless tracking.
- Automated Expense Reports: Reduces admin time and errors by allowing employees to capture and upload receipts for reconciliation at point of purchase.
Pricing: Available on request
Spendesk
Spendesk provides a comprehensive spend management solution tailored for small to mid-sized businesses. Its flexible platform integrates expense tracking, invoice management, and budgeting, with scalable pricing tiers to meet growing needs.
Key Features:
- Cards and Wallets: Issue virtual and physical debit cards for employees.
- Expense Management: Employees can submit expenses, pay invoices, and track spending on one platform.
- Approval Workflows: Customisable approval policies for better control.
- Integration with Accounting Systems: Sync with Xero, QuickBooks, and more.
- Budget Tracking: Set budgets for teams and monitor spending in real time.
Pricing: Tiered plans include Starter, Essentials, and Scale, with features such as automated receipt collection and advanced reporting available in higher tiers.
Airwallex
Airwallex stands out for its global reach and AI-powered features. It’s a great option for small businesses looking to manage multi-currency accounts and gain real-time visibility into spending, with a single dashboard for all expenses that you can easily filter and search.
Key Features:
- Real-Time Spending Visibility: Keep tabs on expenses across your team.
- AI-Powered Data Entry: Reduces manual input and improves accuracy.
- Expense Management on the Go: Submit expenses and approvals instantly via the app.
- Multi-Level Approval Workflows: Allows you to set expense submission criteria and instantly approve incoming expenses from your mobile
- Multi-Currency Support: Hold and transfer funds globally with ease. Reimburse employees in their currency to their local bank account.
Pricing: The most basic plan costs £0/£19 per month, with the fee-free tariff available as long as you deposit or maintain a minimum of £10k in your account every month.
Moss
Moss is an all-in-one expense management solution, ideal for small businesses wanting to automate processes and control budgets effectively. It offers a strong focus on accounting integration and OCR-powered receipt tracking.
Key Features:
- Cards: Issue unlimited virtual and physical corporate cards.
- OCR Receipt Capture: Automates receipt processing and data entry.
- Advanced Approvals: Customise approval workflows to suit your structure.
- Integration: Sync with Xero, QuickBooks, and ERP systems like SAP.
- Dashboard Insights: Real-time data on spending trends and budgets.
Pricing: Available on request. Depends on modules, add-ons and number of users.
Civica (formerly MyExpenses)
Civica provides advanced features like GPS mileage tracking and carbon emissions monitoring, making it ideal for businesses with field teams or a focus on sustainability. It integrates with major banks and accounting software for ease of use.
Key Features:
- Mobile App: Capture receipts, log expenses, and track mileage on the go.
- Policy Compliance: Built-in rules ensure adherence to company policies.
- Sustainability Features: Track carbon emissions from employee travel.
- Data and Insights: Get a holistic view of all your data, with over 100 reports that can help you surface essential trends and insights into your expenses.
- Robust Security: Civica’s enhanced security systems ensure your data is protected from bad actors.
Pricing: Available on request.
SAP Concur
SAP Concur is a robust option for small businesses or those with complex needs. Its powerful suite includes Concur Expense, Travel, and Invoice, which integrate seamlessly for end-to-end expense management.
Key Features:
- Expense Management: Automates and streamlines expense tracking from capture to approval.
- Travel Management: Book flights, hotels, and more while enforcing corporate policies.
- Invoice Automation: OCR technology captures and processes invoices efficiently.
- Comprehensive Integrations: Connect with ERPs, accounting systems, and travel partners.
- Analytics: Smart data dashboards give you a comprehensive overview of your data
Pricing: Transaction-based, customised to business needs.
Rydoo
Rydoo is an AI-powered expense management platform designed to simplify the expense process for businesses of all sizes. With advanced automation tools and real-time control over spending, Rydoo offers an efficient solution for managing company expenses.
Key Features:
- AI-Powered Expense Monitoring: Smart Audit automatically detects and flags non-compliant or suspicious claims, streamlining compliance and reducing manual oversight.
- Easy Receipt Scanning: Submit expenses in just 10 seconds with auto-populated receipt details such as merchant, amount, VAT, and currency.
- Instant Approvals: Real-time approval capabilities allow managers to review and enforce expense policies on the go.
- Automated Reconciliation: Match expenses with credit card transactions or eliminate reconciliation entirely with Rydoo Expense Cards.
- Seamless Integrations: Connect with over 35 platforms, including Microsoft Dynamics 365, SAP, Slack, and TravelPerk, for synchronized workflows.
Pricing: €8 per user per month (billed annually) for Essentials plan which is aimed at growing businesses. €10 per user per month for Pro plan, which is aimed at scaling companies. Custom pricing for larger and enterprise customers.
By choosing the right expenses software, UK small businesses can save time, reduce errors, and focus more on growth. Whether you need simple receipt capture or a comprehensive solution for managing budgets and travel, there’s a platform tailored to your needs.