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11 Helpful Money Management Apps for Businesses

Money management is a critical part of owning a small business. However, unless you left a career as a CFO or accountant to create your company, chances are you don’t necessarily have the financial background to fully deal with this side of the business yourself.

That’s just fine. Because thanks to a growing universe of money management apps, business owners can access much of the help they’ll need at the push of a button – or the tap of a touchscreen.

Software developers have long recognized the plight of many small business owners. Money is usually tight early on, making it difficult to fully staff for every need. Salespeople, marketers and front-line workers clearly contribute to the bottom line, so hiring those positions is a high priority. That often leaves CEOs DIY-ing their accounting duties.

The answer? Money management apps that help simplify complex business financial duties.

But which apps are worth a download, and what can they do for your company? Read on as we delve into 11 such programs:

11 Money Management Apps


Type: Expense management

We’ll start with Expensify, which is an expense-management app that allows your team to report their expenses, then turns that data into an expense report. Features include one-click receipt scanning, credit card transaction importing, corporate credit card reconciliation, multi-level approving workflows (when your business scales, you can implement multiple levels of authorization), and audit and compliance.

The app is free for individuals and self-employed business owners. Business use starts at $5 per month.


Type: Accounting

FreshBooks is an invoice and accounting app with a wide number of uses. You can track your employees’ timesheets, generate financial reports, create ready-to-pay invoices, manage your bills with accounts payable, and much more. Better still, you can perform most of these functions on your desktop or via FreshBooks’ mobile app. Plans start at $7.50 per month, though this money management app currently is running a special that takes 50% off for the first three months.


Type: Payroll

Gusto is a payroll solutions program that can be helpful from the very start of expanding your workforce. That’s because in addition to providing full-service payroll, time tracking and benefits management, it can even assist with hiring and onboarding. The company’s “Core” offering starts at $39 per month, plus $6/month per person. If your business only employs contractors, Gusto offers a version that is just $6/month per person – no $39/month fee involved.

Patriot Payroll

Type: Payroll

Patriot Payroll is a low-cost payroll provider with a simple, easy-to-read platform. For $10/month (plus $4/employee or contractor per month), businesses get access to setup and support, direct deposit, workers’ comp integration, unlimited payrolls, all pay frequencies, time-off accruals and more.


Type: Payroll

Like many online programs that purport to be free, Payroll4Free isn’t exactly free, depending on which services you need. The software does provide some free services, such as running payroll, direct deposit, vacation time tracking and an employee portal. However, some services, such as W-2 processing and tax filing, require additional fees.

QuickBooks Online

Type: Accounting

QuickBooks is one of the most comprehensive money management apps you can find. From full accounting services and invoice payment to payroll and even inventory management, it’s difficult to find a task QuickBooks isn’t up for. However, how much horsepower you want out of QuickBooks is up to what you’re willing to pay. Plans start at $25/month (plus QuickBooks is offering 50% off for three months), but increase to $180 per month for the Advanced package.

RUN Powered by ADP

Type: Payroll

If you’ve worked at a large firm, you’re probably familiar with Automatic Data Processing, better known as ADP. This mega-brand in employer tools offers a special solution for small businesses (with up to 49 employees) called RUN. This app provides everything from basic payroll to background checks to human resources support. Basic pricing is on the expensive side, at $59 per month, plus $4/month per employee.


Type: Expense management

Rydoo is another expense management app – one that integrates well with a number of other business software programs. Rydoo handles things such as basic expense tracking, per diems, mileage, receipt scanning, line-by-line expensing and more. It even allows operators to create things such as out-of-policy expenditure warnings and data-driven insight reports. Rydoo’s basic plan starts at $7/month per user.

SAP Concur

Type: Expense management

SAP Concur is another expense management app with plenty under the hood. The app allows businesses to submit, review and approve expense reports on the go; integrate with your enterprise resource planning software to provide an accurate financial picture of your business; and even help you improve your own budgeting and forecasting. However, Concur is one of the few money management apps that does not openly provide pricing tiers; prospective customers must contact Concur for a quote.


Type: Accounting

Wave is a rare free accounting app. Free features include income and expense tracking, tracking sales tax on income and expenses, double-entry accounting system, generating financial statements, unlimited bank and credit card connections, and unlimited invoices. What’s the catch? Wave makes money on things such as payment processing, bank payments and tax-related payroll services.


Type: Accounting

Xero is a fairly inexpensive accounting app that provides a number of services, including paying bills, accepting payments, bank reconciliation, tracking projects, claiming expenses and running payroll. Xero starts at $11 per month, though the company is offering 50% off for the first three months.

When You’re Ready to Take a Step Up …

At some point, you’re probably going to need to hand off your accounting and financial duties. We get it – you have products and services to develop, investors to pitch and teams to inspire.

When money management apps won’t cut it anymore, consider reaching out to McManamon & Co., which specializes in supporting small and midsize businesses. We not only offer a wide range of accounting services – we even provide outsourced CFO, accounting and bill pay duties.

Grow your business without growing your accounting headaches — call us at 440.892.8900 or contact us online today.

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