5 Best Expense Trackers for Small Business Owners and Content Creators 2023

As a small business owner or content creator, keeping track of your expenses is crucial for managing your finances. Fortunately, there are several expense trackers available that can make this process easier. In this article, we’ll explore the best expense tracker for small business owners and content creators.

Why You Need a Business Expense Tracker

Keeping track of your expenses is an essential part of running a successful small business or content creation venture. By using the best expense tracker for small business, you can streamline this process and ensure that your finances are in order.

• Ensure that you are not overspending or wasting money on unnecessary expenses
• Keep track of tax-deductible expenses, which can help you save money on taxes
• Make informed financial decisions for your business, based on accurate and up-to-date financial information
• Identify areas where you can cut costs and optimize your spending
• Prepare financial reports, which can be useful for securing funding or investors

1. Best For Overall Expense Tracking: QuickBooks

QuickBooks is a well-known expense tracker that has been around for many years. It offers a range of features such as invoice creation, expense tracking, and financial reporting. QuickBooks is easy to use and is available as a cloud-based or desktop application. This option works for those looking to automate expenses and create more of a systemized approach for their business.

Pros:

• Easy to use
• Offers a range of features
• Built In cash flow statement
• Automated recurring expenses
• Integrates with other tools such as PayPal and Square
• Unlimited reports-only and time tracking users

Cons:

• Can be expensive
• Reimbursement only through payroll

2. Best For Dedicated Expense Card: Expensify

Expensify is a popular option for small business owners and content creators. It offers features such as receipt scanning, expense reporting, and reimbursement management. Expensify is available as a mobile app or desktop application. This one seems to be a popular option if you are looking to manage expenses in real time.

Medium to large business could benefit from this option for employees as the best expense tracker. There is also the ability to track travel costs and expenses.

Pros:

• Easy to use
• Offers receipt scanning
• Separate business and free plans
• Tax tracking capabilities
• Multi currency support
• Does offer a free plan option

Cons:

• Some users may find the pricing plans confusing
• Limited reporting options compared to other platforms

3. Best For Expense Tracker For Payments: Xero

Xero is a cloud-based accounting software that offers features such as invoicing, expense tracking, and financial reporting. It is known for its user-friendly interface and is a popular choice for small business owners and content creators.

Xero is a preferred choice for tracking profitability. You can view costs as they happen in real time, then make instant modifications. This way you can avoid unnecessary payment issues.

Pros:

• User-friendly interface
• Offers a range of features
• Available as a cloud-based application
• Integrates with other tools such as PayPal and Stripe
• Unlimited number of users

Cons:

• Can be expensive
• Limited customer support options

4. Best Integration Expense Tracker: Zoho Expense

Zoho Expense is a cloud-based expense tracker that offers features such as expense reporting, receipt scanning, and mileage tracking. This option integrates with other platforms like QuickBooks well along with many other accounting solutions making it a great choice if you already utilize a platform and just want additional software features.

Pros:

• Affordable pricing plans ( Offers free plan )
• Offers receipt scanning
• Available as a mobile app or desktop application
• Integrates with other tools with all major accounting solutions
• Advanced customization
• Custom expense rules

Cons:

• Limited reporting options compared to other options
• Some users may find the interface overwhelming

5. Best Free Expense Tracking Software : Wave

Wave is a free cloud-based accounting and invoicing software that offers features such as expense tracking, invoicing, and financial reporting. It is a popular choice for small business owners and content creators who are looking for a budget-friendly option.

Pros:

• Free to use
• User-friendly interface
• Offers a range of features
• Integrates with other tools such as PayPal and Stripe

Cons:

• Limited customer support options
• Some users may find the reporting options limited

Conclusion

Choosing the right expense tracker for your small business or content creation needs can be challenging. However, by considering factors such as pricing, features, and user-friendliness, you can make an informed decision. QuickBooks, Expensify, Xero, Zoho Expense, and Wave are all great options to consider.