7 Things to Look for in a Business Expense Tracker 

Intuitive software is a must

Whether you’re spending money on client dinners, offsite travel or technology upgrades, you should track and record every business-related purchase accurately. 

Business expense tracker software streamlines that process. While researching your options, prioritize these seven features to find the small business expense tracker that best suits your needs.

7 key features of the best expense trackers for business 

1. Intuitive interface

Starting a business may be challenging, but using a business expense tracker shouldn’t be. Look for solutions with easy-to-understand dashboards, well-organized menus and an easily navigable interface. This will make it easier for employees with varying levels of technical expertise to use it. 

2. Availability 

A cloud computing-based solution enables you to access an online business expense tracker from both web and mobile interfaces so employees can track and report their expenses anytime, anywhere.

Checking per diem rates, uploading receipts as you receive them and approving requests on the go ensures that everything runs smoothly even when key members of your team are out of the office.

3. Invoice creation

Whether you’re sending invoices to clients or collecting them from vendors, it’s important to have a consistent process. Rather than manually creating an invoice from scratch every time, let your business expense tracker handle that for you. 

To further streamline the invoice process, some solutions facilitate payments straight from the invoice itself and send reminders to anyone behind on payments.

4. Financial integration 

When considering expense trackers for small businesses, be sure to look for options that integrate your banking information, credit cards and any relevant third-party apps like Square. The more your systems work together, the easier it is to do things like make payments when you receive an invoice. Having all your information in one place also helps you get a bird’s eye view of your finances and makes it easier to see where you could be saving more (and stressing less!).  

5. Automatic expense categorization

A good business expense tracker should automatically separate each line item into the appropriate category. After all, what good is an expense tracker for small business if you have to categorize everything yourself?

This kind of categorization not only makes it easier to compare spending against individual budgets, it also saves your accounting team headaches during tax season. When it comes time to report your business expenses, you’ll be relieved to find them well-organized and sorted by expense type. 

6. Robust security

If you’re going to be using an expense tracker to handle sensitive financial information and process payments, it has to be secure. A breach could cost your company millions of dollars, and that doesn’t cover the damage to your reputation.

To avoid these potentially devastating breaches, make sure your business expense tracker has security features like data encryption, password-protected logins and multifactor authentication (MFA). Some trackers even offer multiple permission levels, so you can make sure no one sees more than they need to. 

7. Flexible pricing

Your startup hasn’t reached enterprise scale, so why should you pay enterprise prices? Many business expense trackers have different payment tiers so you pay for what you need—and don’t overpay for features you won’t use. 

For example, if you only have a dozen people working for you, it doesn’t make sense to choose a subscription that’s suited for hundreds of employees. Instead, use your budget more strategically and find a plan created with small businesses in mind.

Walmart Business+ can take your budget further

Before submitting those expense receipts, it’s time to stock your office—and Walmart Business+ is here to help. Whether you’re buying furniture and technology equipment or filling the break room fridge, Walmart Business+ offers free shipping,¹ free delivery on orders over $35² and 2% back on orders $250 or more.³ Sign up for an account today!

¹Excludes Marketplace & oversized items, location & freight surcharges

²Restrictions apply. Additional fee applies for Express delivery.

³Exclusions apply. See full terms for details.