For most of us, submitting expense reports ranks fairly low on the list of life's favorite tasks. Collecting receipts (for more about receipt tracking apps, click here), remembering the details after the fact of what we paid for, inputting (or even worse, hand-writing out) expenses manually, and then printing and submitting the beast in its entirety to our finance department is a painful and antiquated process.
Lucky for all of us, expense reporting has started the process of an effective break up with paper, and there are some great expense report apps to prove it.
A sales rep has some specific needs when it comes to keeping track of expenses, and so our review is informed by these key considerations.
Expense Report Software Must-Haves
Simplicity of use
When you're out on the road, making appointments and finessing the interpersonal and logistical challenges involved in nurturing prospects, the last thing you need to worry about is keeping track of your own expenses.
A way to input target or limit amounts
Your company may have set specific maximums that you're authorized to spend on food, lodging, entertainment, product samples, and so on. Furthermore, the IRS has certain limits for your out-of-pocket costs. You need a companion app to help keep you compliant on all fronts.
Method of payment indicator
If you use your company credit card one night and pay out of pocket the next, you need to be able to see which one gets reimbursed.
Before you offer that hot prospect a front-ow seat for tonight's basketball game, you definitely want to be able to make a real-time check on what you working balances look like.
And now, on to the good stuff. Here are three great apps we found that are perfect for the busy wholesale rep on the go:
The 3 Best Expense Report Software Options for Sales Reps
1. Concur (iOS & Android)
Concur is a great expense report app for businesses of all sizes, including SMBs and large enterprises. The app is available for iOS and Android, and it’s designed to make business travel easier.
You can use the native camera on your mobile device to take a photo of your receipt, and the app creates and categorizes the expense. If you’re using a business credit card, the app will import any transactions on that card automatically for you to review later. The same goes for travel itineraries––if you book business travel from your smartphone or computer, the itinerary is captured in the app. Managers can then review the expenses and approve them.
Concur has customers from every corner of the globe, and they work with multiple currencies, automatically calculating exchange rates. Tax rates for different regions are also accounted for. Concur also integrates with Enterprise Resource Planning (ERP) systems, HR systems, and accounting systems, to allow for efficient tracking of budget and spending data.
Mileage Log+ is an expense reporting app specifically for people who have to be on the road to do their jobs. Whether you’re a sales rep who has to drive from meeting to meeting, a field service technician who needs to get to a new job site every day, or you need to run a company errand, this app allows you to track your mileage for reimbursement, set up custom categories for certain trips, and sync the data with Dropbox, where you can then export the information as a PDF or CSV file.
Files can be shared with your home office directly from the app via email, and you can easily sort, filter, and search your trip history. The app was also designed with IRS compliance in mind, making reimbursement easier. If you make frequent trips to the same places, you can save those trips and enter them in with just a few taps the next time you go. The app is available on iOS for $9.99.
This well-liked app turns up at the top of every list of professional expense account apps for business people. Why is it so popular? Expensify focuses on simplifying your life while offering a stunning list of functions. Available for both iPhone and Android, this app makes sure you know that human beings stand behind it. With numerous custom fields, Expensify offers smart categorization, global currency support and eReceipts for imported bank transactions.
To meet a sales rep’s need of complying with company spending limits, Expensify offers the ability to set specific rules for each expense type. It even takes compliance further with digital signatures and a complete audit trail. Its enormous flexibility and user-friendly interface have made Expensify the expense-reporting choice of some notable customers including Mozilla, Mashable, Pinterest, and more.
Any one of these three great apps will add a touch of ease to your paperwork chores, and will tighten up your entire infrastructure so that your mind is free to do what you do best: Close the next deal!
If you have feedback on any of the expense report apps we've listed above, or prefer a different one entirely, we'd love to hear about it! Share with us in the comments below.