What is the best expense tracking app for a small business?
Look for an app that captures receipts quickly, sorts them into categories, produces reports your accountant can use and works on every device. Manage Receipt does this on iPhone, Android and the web, and adds invoices, bill reminders and secure document storage in the same app.
What should I look for in small business expense tracking software?
Check for fast receipt capture by photo, email and upload, AI that reads the merchant, date, amount and tax correctly, automatic categories, reports in PDF and Excel that your accountant can use, bill reminders, and access on both web and phone. If more people spend for the business, look for roles and approvals too.
How should a small business keep track of receipts?
Capture small business receipts as soon as you get them, give each one a category and keep a digital copy. With Manage Receipt you snap a photo or forward the email, and the AI reads the merchant, date, amount and tax for you.
Are scanned receipts accepted by the IRS?
Yes. The IRS accepts electronic copies of receipts as long as they are complete and readable. Keep the full receipt, including the date, vendor, amount and what was purchased.
How long should a small business keep receipts?
In general, keep records that support your tax return for at least three years after you file. Some situations need longer, such as six years if income was under-reported or seven years for bad debt deductions. Manage Receipt keeps them safely in the cloud for as long as you need.
What is the $75 receipt rule for small businesses?
Under IRS rules, you generally do not need a receipt for travel, meal, gift or transportation expenses under $75, except lodging. You still need a record of the amount, date, place and business purpose, so it is easier to snap every receipt anyway. See IRS Publication 463 for details.
Can I separate business and personal expenses?
Yes. Use categories, notes and search to keep business spending apart from personal purchases, and run reports on business categories only.
Can my team submit receipts too?
Yes. On the Enterprise plan your team works in a shared workspace with roles, team receipts and approvals, so owners see every expense in one place.
Can I create invoices for my customers?
Yes. The web app includes invoices: add your logo and payment details, bill by quantity, hours or a flat amount, send by email and record full or partial payments.
Does Manage Receipt work on a computer?
Yes. Use the web app on any computer and the iPhone and Android apps on the go. One account keeps everything in sync.
Is my business data secure?
Your data is encrypted in transit and at rest and stored on secure cloud servers. Read more on our Security and Trust page.
