8 Best Expense Management Software in 2024

Zoho Expense: Best overall expense management software

Zoho provides several solutions for business management optimization, including Zoho Expense, its online expense reporting software. Zoho Expense was crowned as our pick for the best overall expense management software, as it provides a plethora of tools and features that simplify and streamline business expense report processes.

This customizable solution automates many of the tasks and workflows involved in expense reporting, budgeting, auditing, travel management and more. And with its collaboration features, business leaders can easily keep their teams on track and aligned with their expense management goals.

Plans and pricing

• Free: $0 for up to three users.
• Standard: $4 per active user per month billed annually, or $5 per active user per month billed monthly. It requires a minimum of three users and supports unlimited users.
• Premium: $7 per active user per month billed annually, or $9 per active user per month billed monthly. It requires a minimum of three users and supports unlimited users.
• Zoho One: A bundle of all of Zoho’s software products into a single plan that costs $37 per month per employee, billed annually.

Businesses with more than 100 users must contact Zoho Expense for a custom quote. A 14-day free trial is available for the Standard and Premium plans.

Features

• Custom roles.
• Expense importing.
• Expense rules and policies.
• Purchase requests.
• In-app notifications.

Pros

• Automatically integrates with Zoho Books, making expense management and bookkeeping a breeze for users of both systems.
• Autoscan feature allows users to scan and import their receipts in 14 languages and create expense reports hands-free.
• Users can track their business mileage through four methods: GPS, point-to-point map locations, odometer readings, or distance traveled.

Cons

• Travel expense management capabilities are available only through the Premium plan.
• The Free plan only comes with 5 GB receipt storage.

For more information, read the full Zoho Expense review.

Expensify: Best for employee reimbursement

Expensify is a standalone solution that might be the answer to your business’s employee reimbursement needs. This expense management tool lets users process their reimbursements globally, providing tools and features for simplifying cross-border transactions.

The software’s automated reimbursement tools take the pressure off of people to handle currency conversions and exchange rate calculations. Automated workflows can also be established for tasks like approving expenditures and reports. Businesses can even offer their staff the Expensify Corporate Card, which allows them to spend money based on set limits and can provide valuable insight into company spending.

Plans and pricing

Expensify provides a Free plan with limited features. It also offers the Collect and Control plans, which provide more features. Collect costs $5 per user monthly, while Control charges $9 a person each month. Importantly, the company provides an undisclosed discount based on how much you spend using the Expensify Card.

Features

• Receipt capture.
• Expense tracking.
• Mileage tracking.
• Invoicing.
• Custom reporting.

Pros

• Users can ensure compliance by running purchases through the Rogue Agent Detection system and against the businesses custom policy rules.
• Expensify has integrations with many popular software solutions for easy data synching.
• San Francisco users can pay a visit to the Expensify Lounge, the first of Expensify’s work lounges, bridging the gap between software and real-life networking environments.
• The Expensify app provides financial collaboration tools.

Cons

• New users may find the technology difficult to master.
• No telephone customer support.

Wave Accounting: Best receipt scanner

Teams on a budget will appreciate Wave Accounting’s forever-free accounting software plan that makes tracking expenses fast and easy. Businesses can gain access to unlimited income and expense tracking to efficiently record and organize their transactions. From there, the data can be turned into helpful reports that reflect the company’s financial health.

Time and effort are saved thanks to the receipt scanner, a feature of the Wave Accounting app (which is only available at an additional monthly price). Users need only to capture and upload images of their receipts and the OCR technology to scan information and import all necessary data into the system.

Plans and pricing

• The Starter plan is completely free. The company makes money by charging competitive credit card processing fees.
• The higher-tier Pro plan starts at $16 a month, with an approximate 15% discount when paid annually.

Features

• Multi-business management.
• Automated reminders.
• Mobile app.
• Unlimited expense and income tracking.
• Valuable accounting reports.
• Bank reconciliation with double-entry accounting.

Pros

• No limits on the number of users on an account.
• Multi-business management capabilities are included at no additional cost.
• Wave Accounting allows for unlimited credit card and bank connections.

Cons

• No U.S.-based phone support.
• Limited third-party integrations.
• Additional fee for mobile receipt scanning.

For more information, read the full Wave Accounting review.

QuickBooks Online: Best tax categorization

QuickBooks Online is a highly popular accounting solution. The all-in-one platform lets companies gain control over their expenditures. And while this option may be pricey compared to others on our list, its range of features may justify the cost.

Businesses can get increased visibility into their company spending using the software’s real-time dashboards. Data is automatically synced within the system through bank account connections, credit cards and even PayPal. It also comes with automatic expense categorization, so no transactions are missed come tax season.

Plans and pricing

• QuickBooks Simple Start: $35 per month with access for one user.
• QuickBooks Essentials: $65 per month with access for up to three users.
• QuickBooks Plus: $99 per month with access for up to five users.
• QuickBooks Advanced: $235 per month with access for up to 25 users.

First-time QuickBooks customers receive the option of either signing up for a 30-day free trial or locking in 50% off for their initial three months.

Features

• Mobile app.
• Bill management.
• Automatic expense categorization.
• Cash flow forecasting.
• Bookkeeping and accounting reports.
• Income and expense tracking.

Pros

• Will automatically download and suggest categories for business transactions.
• Users can create custom rules for categorizing expenses, saving them time and energy.
• Live assisted bookkeeping and live full-service bookkeeping support through QuickBooks Live.

Cons

• More costly than some competitors.
• Enforces user limits on every plan.

For more information, read the full QuickBooks Online review.

FreshBooks: Best project-based expense tracking

FreshBooks is an excellent software tool for businesses looking to track and manage their project-based expenses. With helpful features like bank connection imports, tax categorization and collaborative tools, businesses can easily handle their expense management.

Teams can stay on top of their project spending through the project-based expense tracking features. The solution can even help them gain more profound insights into their projects’ profitability by providing detailed profitability reports with expense and service categories.

Plans and pricing

• Lite: $19 per month billed monthly, or $228 billed yearly. Allows users to bill five clients per month.
• Plus: $33 per month billed monthly, or $396 billed yearly. Allows users to bill 50 clients per month.
• Premium: $60 per month billed monthly, or $720 billed yearly. Includes unlimited billable clients.
• Select: Custom quote pricing for enterprises.

Features

• Project-based budgeting and billing.
• Automatic mobile receipt tracking.
• Collaboration tools.
• Client profiles and account statements.
• File storage.

Pros

• Has easy categorization for billable expenses and can automatically transfer these costs onto a client invoice.
• Versatile project management features like file sharing, permission controls and communication logs.
• Supports multi-currency expense tracking.

Cons

• Only higher-priced plans gain access to true double-entry accounting.
• Software is more optimized for service-based businesses over inventory-based companies.

For more information, read the full FreshBooks review.

Sage Intacct: Best for time-saving automations

While many of the tools mentioned in this list come with automated features, Sage Intacct takes the cake. This cloud-based business software solution comes with core financial modules that automate various tasks related to expense management, saving users valuable time and effort.

Sage Intacct’s modules work to automate processes and streamline business workflows. For instance, the Sage Intacct Accounts Payable software module uses an intelligent virtual assistant to automate data entry within the system. The Intelligent GL feature also uses AI and automation to scan transactions and flag anomalies, allowing for continuous auditing. And, businesses can also create and define their own workflows that are optimized for their unique needs.

Plans and pricing

Shoppers are encouraged to contact Sages sales team to request a personalized price quote.

Features

• Real-time data metrics.
• Vast range of integrations.
• Automated multi-entity tools.
• Inventory tracking tools.
• Financial reporting features.
• Automated invoicing and collection processes.

Pros

• Multi-entity automation features can allow businesses to establish inter-entity transaction instructions to save time and avoid errors.
• Comes with a suite of reporting features, dashboards and reporting tools to help teams reach deeper procurement data insights.
• Businesses are able to create and customize role-based purchasing dashboards for users.

Cons

• Integration options for payroll software solutions are limited.
• No transparent pricing.

Rippling Spend: Best for smaller businesses

If you want to do more with less, Rippling Spend is your best friend. You get all the classic expense management tools, like corporate credit card perks. But the tech-savvy title eliminates the need for multiple software solutions by hooking on essential HR and payroll functions. This integrated approach helps you eliminate the need for more back-office professionals.

It’s a breeze to blend Rippling Spend with your existing workflow. With over 600 third-party integrations, it allows you to keep your favorite tools on deck. And for anything the title doesn’t already solve, you can tap into the platform’s custom coding function to design automated processes from scratch.

Plans and pricing

• $11 per month.

Features

• Integrated expense management, payroll, and HR tools.
• Advanced automation with custom coding capabilities.
• Expert-level analytics.
• More than 600 third-party integrations.
• Corporate credit card offerings.

Pros

• Comprehensive.
• Affordable starting price.
• Highly customizable.
• Lots of advanced features.

Cons

• Steep learning curve.
• Opaque pricing.

Ramp: Best for larger organizations

Ramp is a brilliant solution for bigger entities wishing to maintain tight control over employee spending. The platform’s top-notch corporate credit card management tools excel at tackling responsibilities across countless employees. For example, you can define custom spending limits, create one-off virtual cards, and block specific vendors or transaction types. These perks give you the granular control needed to oversee corporate spending at scale.

The title also focuses on automation to save you time. For example, you can create rules to instantly approve transactions. And Ramp can nab receipts from Gmail, Uber, Amazon, and other sources entirely hands-free.

Plans and pricing

• Ramp: Free for all users, supporting only USD transactions.
• Ramp Plus: $15 per user per month, with international currency support.
• Ramp Enterprise: Custom pricing.

Features

• Unlimited physical and virtual cards.
• AI-driven automation.
• Advanced analytics.
• Customizable spend limits and security controls.
• Travel benefits and discounts.

Pros

• Free plan available.
• Highly scalable.
• Cashback benefits on all cards.
• User-friendly interface.

Cons

• Little value outside corporate credit card management.
• Limited third-party integrations.