What are the best expense tracking apps for remote teams?

1 User-Friendly UI

A top expense tracking app for remote teams should boast a user interface that is intuitive and easy to navigate. This ensures all team members, regardless of their technical proficiency, can effortlessly enter and track expenses. The app should offer a clear dashboard that displays key information, such as pending approvals or reimbursement status, at a glance. The easier it is for your team to use the app, the more likely they are to consistently track their expenses, leading to accurate and timely financial reporting.

2 Multi-Currency Support

For remote teams that operate internationally, an expense tracking app must support multiple currencies. This feature allows team members to record expenses in the local currency while the app calculates the equivalent in your business's base currency. It simplifies the reimbursement process and ensures financial consistency. The app should provide up-to-date exchange rates and the ability to handle any currency conversion automatically, saving time and reducing errors in expense reporting.

3 Real-Time Reporting

An effective expense tracking app offers real-time reporting capabilities, enabling managers to monitor expenditures as they occur. This feature is particularly important for remote teams, as it allows for immediate oversight and budget adjustments if necessary. The app should allow for the creation of custom reports that can be shared with stakeholders, providing insights into spending patterns and helping to identify potential cost savings.

4 Receipt Capture

A key feature of a good expense tracking app is the ability to capture receipts using a smartphone camera. This function allows remote team members to immediately record proof of their expenses, reducing the risk of lost receipts and ensuring that expense reports are accurate and complete. The app should be able to extract relevant information from the captured image, such as date, amount, and merchant, and automatically populate the expense entry with these details.

5 Integration Capabilities

Seamless integration with other business management tools is a must-have for an expense tracking app catering to remote teams. The app should be able to connect with accounting software, project management platforms, and payment systems to automate the flow of financial data. This reduces manual data entry, minimizes errors, and ensures that expense information is reflected across all relevant systems. Integration also facilitates a smoother reimbursement process and better financial control.

6 Secure Access

Security is paramount when handling financial data. A robust expense tracking app should offer secure access controls, including multi-factor authentication and encrypted data storage. This ensures that sensitive financial information is protected from unauthorized access and breaches. Additionally, the app should have customizable user permissions, allowing managers to control who can view or edit expense data, providing an extra layer of security for your remote team's financial transactions.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?