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Top 10 Alternatives to Expensify: List of Leading Expense Management Software Solutions

FreshBooks: No. 1 Accounting Software

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What is the top alternative to Expensify?
The top alternative to Expensify is FreshBooks, taking into account its ease-of-use and flexible pricing, which makes it ideal for small businesses. This robust accounting platform makes financial management so easy that users can even create streamlined time tracking and client invoicing processes. It can likewise track expenses so that business can view how much is being spent on what, all these without the hassles of spreadsheets and receipts.

Are you looking for an alternative to Expensify? If so, we’ll help you. Expensify is a business solution used to manage money matters, transactions, and expenses through its real-time reporting and data processes. In this top 10 alternatives to Expensify guide, you’ll learn more about the tool’s features, functionalities, and benefits. We will also explore the pros and cons of other leading expense management apps.

To start with, let’s take a look at the ROI of expense management software. As per research stats, it costs $20.65 on average to process a single expense report without using expense management software. This cost is reduced to $7.50 when software is utilized to automate the expense management process. By using expense management software a medium-sized enterprise with 150 employees can save $35,500 in one year and get a ROI of 395%. Also, consider these pain points addressed by expense management software:

Biggest expense management issues faced by organizations

Source: PayStream Advisors

Technavio sees an extensive deployment of expense management software in all industries by 2021. The use of reliable and accurate expense analytics is expected to transform expense management from an operational activity to an important process that allows for continuous improvement. Moreover, expense automation will minimize expense fraud, preventing such by offering a strong infrastructure. A large number of enterprises are also shifting from old-fashioned systems provided by legacy vendors to modern and more suitable expense management platforms.

So, let’s get down to the business of choosing the appropriate expense management software systems for your requirements. We begin by providing you with a brief overview of Expensify.

What is Expensify?

expensify dashboard example

Expensify is a business platform that offers a user-friendly interface and accounting functions which can be utilized for money management matters. It enables companies to maintain summaries of various accounts and calendars to obtain transparency. In addition, a number of ratios like debt-to-income ratios can be balanced at the appropriate time to prevent crises.

Expensify also provides robust tools to monitor your travel costs based on the distance traveled or the time utilized on a specific project. For international travel, you can convert currencies and store the data in accurate text fields. In addition, the software presents a simple module to record expenses by the info provided through images (purchase receipts).

Benefits of Expensify

  1. The software makes it quick and easy for companies to manage the costs incurred through years or months.
  2. You can sync all your account info with your mobile to save transactions in both places.
  3. It automates the workflow of expense reporting and tracking from the initial stage to the finalization of expense reports.
  4. It permits automatic integration of the platform with credit cards, financial institutions, or other payment methods to eliminate the need for manual data entry.
  5. You can utilize this solution while making deposits or purchases which enables you to record info in real time.
  6. Finally, Expensify permits tracking costs incurred on business trips via GPS technology, which automatically tracks the distance traveled and records them for reimbursements or deductions.

However, Expensify, just like any other tool couldn’t possibly offer you every feature you need in an expense management solution. If you wish to look beyond Expensify, check the essential details about the main features and benefits of the top 10 alternatives to Expensify. We give you 3 good reasons to consider the alternative app instead of Expensify and vice versa.

Top 10 Alternatives to Expensify

1. FreshBooks

freshbooks dashboard example

FreshBooks is utilized by more than five million companies to streamline client invoicing and time tracking. Freelancers also use it to fast track their sales cycle and collection and provide a professional look by custom-branding their financial files with company colors and logos. The app is successful because it offers great features and a flexible pricing scheme that enables small and medium-sized companies in all sectors to take advantage of the benefits that it offers. The vendor offers a comprehensive free trial to get you up to speed with the features. You can sign up for the FreshBooks free trial here.

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USER SATISFACTION 99%
OUR SCORE 9.8
FreshBooks won our Best Accouting Software Award for 2018

FreshBooks is a fast and reliable accounting suite that makes the complex matter of financial management into a fun experience. With this software, enterprises can manage recurring subscriptions and invoices quickly and easily, and collect online payments within the system. In addition, The tool enables credit card, PayPal, and Google Checkout payments, and integrates with a number of business solutions that can streamline this process. In short, the platform lets you unite financial control in a single program and save the costs of maintaining complex software infrastructure. You can find more FreshBooks details in our review of the platform.

The app is constantly finding itself sporting new features and functionalities, which are intended to further help users. An example of this is the fact that the software now supports collaboration while getting a newly-designed dashboard. It can also generate more invoices, which as always are customizable and can be tracked from the same interface. Task prioritization is now possible with its time tracking feature, resulting in accounting that is more transparent. The vendor likewise improved FreshBooks’ search feature while adding support for different currencies. 

If you wish to scout for other solutions, browse FreshBooks alternatives here.

Why use FreshBooks instead of Expensify?

  1. It allows you to take detailed time entry notes.
  2. It enables you to track offline payments.
  3. It supports multi-currency and multi-language.

Why use Expensify instead of FreshBooks?

  1. It facilitates flexible travel integrations.
  2. It presents corporate cards.
  3. It generates real-time expense reports.

2. Zoho Books

zoho books dashboard example

Zoho Books allows you to send professional invoices to your clients and receive online payments from them in a single solution. The app is convenient, robust, and fast, and helps businesses to control their finances and save more. This is facilitated by features such as balance sheets, P&L, cash flow statements, and more. The pricing packages are affordable and budget-friendly for small businesses and mid-market companies. If you want to investigate the features closely you can easily do so when you sign up for a Zoho Books free trial here.

Aside from the above, you can now enjoy additional features as the vendor makes sure that Zoho Books receives constant improvements. It is now able to include multiple timesheets and projects in a singular invoice, This is particularly useful if you’re working for a single customer with multiple projects. Customers automatically receive notification via text messages whenever invoices are created, paid or to simply remind them of pending payments, You can even open external sites directly from the platform through its custom link feature. This will benefit users who need to search for outside sources. Credit limits can also be set for specific customers, barring those who exceed their limits from creating invoices. Now, these are but some of the Zoho Books features currently available. Read our detailed review of the solution to learn more.

For more good options, peruse these Zoho Books alternatives.

Why use Zoho Books instead of Expensify?

  1. It presents a collaborative client portal.
  2. It offers invoice templates.
  3. It provides inventory management tools.

Why use Expensify instead of Zoho Books?

  1. It deploys PCI-compliant security.
  2. It facilitates candidate reimbursement and direct deposit reimbursement.
  3. It offers advanced approval hierarchies.

3. Sage Business Cloud Accounting

sage business cloud accounting dashboard example

Sage Business Cloud Accounting is an easy-to-use accounting solution. It integrates with its sister platform Sage 50cloud to offer cloud storage and accessibility to your accounting info. The program’s graphs, dashboards, and drill-downs to transactions offer a detailed overview of your company any time via the Internet. Key features include customer sales history, supplier purchases, and bank statement imports that enable you to manage your cash flow and banking. You can use all the features for free for a period of time to see if the software matches your needs. Simply sign up for a Sage Business Cloud Accounting free trial here.

Sage Business Cloud Accounting is an excellent expense management tool. It harnesses the power of the cloud, offering users easy access and secure information storage in the process. You also get a detailed overview of your organization as the solution makes use of data visualizations to reflect your transactions. It likewise makes a record of your transactions with suppliers while enabling you to effectively handle your cash flow and banking by importing bank statements. Billable expenses and time can be entered into invoices manually allowing you to keep a record of them as well. It accelerates reconciliation of your books with your bank accounts by keeping a record of previously used categories. Bank statements can likewise be uploaded to the system. It is mobile-optimized, supporting both Android and iOS devices. There are more Sage Business Cloud Accounting features in our review of the software.

If you’re not impressed, take a look at Sage Business Cloud Accounting alternatives here.

Why use Sage Business Cloud Accounting instead of Expensify?

  1. It provides a range of reporting options.
  2. It offers a report designer you can use to design your own layouts and formats.
  3. It allows bank statement imports.

Why use Expensify instead of Sage Business Cloud Accounting?

  1. It provides GL code mapping.
  2. It offers a multi-stage approval workflow.
  3. It facilitates multi-level tagging.

4. Float

float dashboard example

Oline cash forecasting and management solution Float is designed to help enterprises handle their cash flows. This platform assists businesses, particularly finance department heads, business advisors, and owners project their cash in the bank. You can easily sign up for a Float free trial here and get to know the features firsthand at no cost and without commitment.

You can use Float’s scenario planner to model costs against anticipated sales. This way, you get to see if an investment plan is viable or otherwise. It can likewise predict the possible impact of using corporate funds and devises ways to make them more affordable. It’s cash manager feature, meanwhile, allows you to set priorities when paying bills. Yes, you can delay or pay bills depending on your cash flow. It also informs you of invoices that need to be pursued.

Float integrates seamlessly with popular accounting solutions and gives you an accurate real-time overview of your cash flow. Plus, it provides predictions of for future years, which offers users actionable and intelligent insights on how to guide their company to attain profitability. With this software, you can set budgets, track performance, and build and implement both long- and short-term cash flow.

If you wish to look at other choices, check out these Float alternatives.

Why use Float instead of Expensify?

  1. It offers detailed drill-downs.
  2. It allows reporting and exporting.
  3. It syncs with your accounting software.

Why use Expensify instead of Float?

  1. It uses PCI-compliant security.
  2. It provides advanced approval hierarchies.
  3. It offers corporate cards.

5. Zoho Expense

zoho expense dashboard example

Zoho Expense is a popular expense management software owing to its ability to make expense tracking and reporting more fun and easier for businesses. Using the system, many expense management processes are automated, making transaction recording faster. You can generate reports using receipts that have been converted into expenses with the click of a mouse. This is most useful in determining your company’s financial performance. For credit card transactions, Zoho Expense automatically collects and converts them into expenses. If you want to investigate the features closely you can easily do so when you sign up for a Zoho Expense free trial here.

The platform ensures that your company’s spending policy is observed by getting rid of messy issues concerning allowed expenses and limits on spending. It comes with a user-friendly interface that enables you to send recipients via email and simply drag-and-drop receipts onto the main screen. Zoho Expense seamlessly integrates with Zoho CRM and Zoho Books, giving you all the functionalities of all three platforms for the same pricing plan. The system is mobile optimized so that you can access your accounting information anywhere at any given time using a smartphone. More Zoho Expense details can be found in our comprehensive review of the platform.

For more good options, try out these Zoho Expense alternatives here.

Why use Zoho Expense instead of Expensify?

  1. It automates expense recording.
  2. It allows multi-currency expensing.
  3. It offers expense analytics.

Why use Expensify instead of Zoho Expense?

  1. It provides real-time expense reports.
  2. It facilitates direct deposit and candidate reimbursement.
  3. It enables advanced tax tracking.

6. FreeAgent

freeagent dashboard example

FreeAgent is a robust online accounting software that is designed to meet the needs of freelancers and small businesses. This feature-rich solution offers enterprises the tools they require to keep their finances on track. They can utilize these capabilities to manage all elements of their financial operations – from payroll running to handling expenses. You can check the solution closely when you sign up for a FreeAgent free trial here.

With FreeAgent, you can send and track invoices created by the software. Plus, you can easily monitor expenses by taking a picture of your receipt on your phone and uploading it to the program. Another highlight is the inbuilt stopwatch and timesheets that you can utilize to keep time records. In addition, the platform can be linked to bank accounts to allow automatic import of transactions into the system. Finally, the application supports 26 third-party app integrations including Receipt Bank, Stripe, PayPal, and Zapier which can connect the solution to more than 750 add-ons. Find out more Free Agent pros and cons by reading our detailed review of the tool.

If you’re not satisfied, take a look at FreeAgent alternatives here.

Why use FreeAgent instead of Expensify?

  1. It provides multi-language support.
  2. It allows you to customize invoices.
  3. It offers attractive invoice templates.

Why use Expensify instead of FreeAgent?

  1. It permits you to set up expense rules.
  2. It allows credit card imports.
  3. It offers duplicate expense detection.

7. Xero

xero dashboard example

Xero is a popular accounting platform that is known for catering to SMBs, offering them all the tools that they need to handle their accounting processes. The system is quite easy to set up, requiring but little time and no training at all. Every transaction and contact can be accessed from a single console while allowing you to edit entries even in the field. It offers numerous features as tools that come with the software and not costly add-ons. Read our comprehensive review to learn more about Xero benefits.

But what’s notable about the software is its Xero Expenses tool, which allows you to effectively manage your expenses while providing access to analytics. All it takes is a photo of a receipt and the system automatically creates an expense claim. Expenditure patterns can be identified through reports generated by the app. It can be integrated into your accounting process and can automatically pay bills and create journal entries. This tool is bound to cut costs, give you actionable insights and enable you to give your clients impeccable support. Expense claims can be captured and recorded even from your mobile device as Xero supports both Android and iOS platforms. However, if you think that the tool is too basic for you, there are more Xero alternatives here.

Why use Xero instead of Expensify?

  1. It offers access to analytics.
  2. It can identify spending patterns.
  3. It can capture and record expense claims.

Why use Expensify instead of Xero?

  1. It provides GL code mapping.
  2. It facilitates multi-level tagging.
  3. It offers a multi-stage approval workflow.

8. Sage Intacct

sage intacct dashboard example

Cloud-based financial management tool Sage Intacct is a robust platform that combines the capabilities of Sage and Intacct, harnessing the power of the cloud to provide users with a very enjoyable accounting experience. It is targeted at growing companies, helping them boost efficiency and expand their horizons. The system automates every accounting process there is, allowing users to focus on more important areas of their operations. It is a full-featured tool, bringing to the table functionalities such as accounts receivables and payables, expense management, and cash management. To learn more Sage Intacct details, check out our detail review of the software.

As an expense management solution, Sage Intacct offers numerous benefits. It makes expense and time management easier by allowing staff to enter their own expense and time information. These reports can be accessed by managers for approval in real time as they are automatically alerted by the system. Its dashboard likewise offers visibility into project progress and profitability while monitoring time for billable hours. Information on time and expenses are automatically uploaded to the system’s revenue and invoicing recognition tool, saving users a lot of time. The software truly speeds up expense management, resulting in improved decision-making. However, if you feel that the tool just isn’t the one for you, there are other Sage Intacct alternatives to choose from.

Why use Sage Intacct instead of Expensify?

  1. It allows staff to enter their own expense/time data.
  2. It alerts managers to employee expense/time reports.
  3. It offers a view of project progress and profitability.

Why use Expensify instead of Sage Intacct?

  1. It provides real-time expense reports.
  2. It facilitates direct deposit reimbursement and candidate reimbursement.
  3. It enables advanced tax tracking.

9. QuickBooks

quickbooks dashboard example

A widely-used accounting software, QuickBooks features are deemed highly-suited to any industry. It has client and supplier tracking capabilities and can handle all tasks related to banking, all from a single dashboard. You can derive valuable insights from using the system, which can likewise keep your accounting information such as payables, contacts and overdue bills in order. Payments are made easier, with the app being able to link invoices to bank transfer accounts and credit cards. Profit and loss statements can be automatically generated so you get to have clear visibility into your company’s financial performance.

To top it all off, the product comes with expense management functionalities that will surely help you better manage the way you spend money. Expenses can be tracked by taking photos and saving them to the system, which are immediately categorized and added to your books. Accounting information is automatically synced across all your machines and devices, making sure that your records are constantly updated. Your tax deductions are also accurately managed, with the software efficiently tracking your expenses and creating tax categories that are tailored to your business. Still unconvinced? You can also look for Quickbooks alternatives here.

Why use QuickBooks instead of Expensify?

  1. It accounting data organized.
  2. It links to bank transfer accounts and credit cards.
  3. It manages tax deductions.

Why use Expensify instead of QuickBooks?

  1. It implements PCI-compliant security.
  2. It provides flexible travel integrations.
  3. It has tools for monitoring travel costs.

10. FinancialForce Accounting

financialforce accounting dashboard example

FinancialForce is primarily an accounting platform but has expense management features that could help organizations better handle their spendings. It is targeted at both SMBs and large enterprises who seek to gain streamlined workflows and reduce costs. The tool is a total solution that can handle just about any financial transaction. It is highly-intuitive that you can learn its expense management functionalities quite quickly. These include billing, time reporting, advanced reporting, project financials, and resource management. You can find out more about the tool in this FinancialForce overview.

More importantly, FinancialForce enables you to avoid errors in expenses entry while offering currency conversions that are accurate, helping you save on costs. Making decisions about both long- and short-term budgeting and expenditure policy adjustments are also made possible with the software. For employees, the platform’s ability to generate tracking and expense reports will speed up expense approvals, resulting in improved employee satisfaction. They can also easily file expenses through the cloud, using a single platform. In case you are not satisfied with the tool’s features, you can find more FinancialForce alternatives here.

Why use FinancialForce instead of Expensify?

  1. It helps prevent errors in expense data entry.
  2. It offers accurate currency conversions.
  3. It helps make budgeting and expenditure adjustments.

Why use Expensify instead of FinancialForce?

  1. It enables automatic accounting sync.
  2. It facilitates automatic approval and reimbursement.
  3. It offers advanced tax tracking.

And that’s about it, our top 10 alternatives to Expensify. Bear in mind that all the systems presented here have their own strengths and weaknesses. It is, therefore, up to you to decide which tool is right for you. If you need additional information about these platforms, read our best free accounting software guide.

What’s Next For Expense Management Systems?

Expense management software has indeed come a long way. bringing with it functionalities that make most tedious tasks easier. In fact, many believe that expense management has yet to get a boost from promising technologies, which could essentially be a game changer for the majority of businesses around the world. Here are some of them:

Cloud computing

Cloud-based expense management systems have gained a significant slice of the app market. Vendors have been automating conventional workflows, including all aspects of expense reimbursement. These platforms have managed to evolve into a single solution for all expense management processes.

Emerging technologies

Expense management is seen to benefit from the use of emerging technologies in the coming years. These include big data, artificial intelligence and machine learning, tools that can cater to changes in user requirements. AI applications in expense management can come in the form of data entry based on user patterns.

Virtual Assistants

With the way things are going, the development of virtual expense management assistants may not be a pipeline dream after all. These will be fully-integrated solutions capable of identifying business transactions and flagging them as expenses. Expense approval is also seen to become faster, along with the merging of expense data with organizations’ financial information.

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