Harvest
Expenses
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Business Tracking Expenses

Harvest offers a seamless solution for tracking business expenses on-the-go, reducing errors by up to 65% with its mobile app and detailed reporting.

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  • Attach receipts to projects & tasks
  • Turn tracked expenses into client invoices
  • Free 30-day trial, no credit card needed

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The Shift to Mobile Expense Management

By 2025, it is projected that 75% of businesses will primarily use mobile apps for expense management, a significant increase from the 54% recorded in 2021. This shift is largely driven by the need for on-the-go management capabilities, especially with the rise in remote work environments. Mobile expense management apps allow employees to quickly capture and submit expenses, reducing the reliance on manual, paper-based systems. This transition not only improves efficiency but also aligns with the growing trend towards digital transformation in financial management.

Harvest capitalizes on this trend with its mobile app, enabling users to effortlessly track expenses and upload receipt images directly from their phones. This feature ensures that businesses can maintain up-to-date records without being tethered to a desk, thus enhancing productivity and accuracy in expense reporting.

Enhancing Efficiency Through Automation

Automation in expense management can lead to significant cost savings, with companies experiencing up to a 30% reduction in processing costs and a 65% decrease in report errors. Furthermore, automation can cut approval times by half, driving a productivity boost of over 70% compared to manual systems. Despite the lack of full automation, Harvest offers a streamlined process for tracking project-based expenses, which is particularly beneficial for small to medium businesses looking to enhance efficiency.

While automated categorization is not available, Harvest allows users to manually organize expenses by selecting from pre-defined categories, ensuring clarity and reducing errors. This method still aids in maintaining organized records, which are critical for budgeting and cost control.

Leveraging Detailed Reporting for Financial Visibility

Real-time visibility into expenses is crucial for businesses to avoid overspending and enhance budget forecasts. Up to 70% of finance teams prioritize this real-time insight to make informed decisions promptly. With manual expense reporting, data often lags by 30-60 days, which can cost mid-sized companies an average of $12,000 per month in suboptimal financial decisions. Harvest addresses this need by providing detailed expense reports that are easily filtered and exported for thorough analysis.

These reports help businesses identify spending trends and patterns, enabling proactive financial management. This capability is vital for companies aiming to improve their financial visibility and optimize resource allocation.

Sustainability and Compliance in Expense Management

With businesses increasingly adopting paperless solutions, digital expense management helps reduce environmental impact and storage costs. The ability to digitize receipts and use e-invoicing aligns with eco-friendly practices and the push towards sustainability. This approach also supports compliance with IRS record-keeping requirements, which mandate that businesses maintain supporting documentation for tax filings.

Harvest's mobile app facilitates the digitization of receipts, reducing paper clutter and ensuring that businesses can easily meet compliance requirements. This capability is essential for avoiding financial penalties and ensuring accurate tax reporting.

Track Business Expenses with Harvest

See how Harvest simplifies expense tracking with mobile features and detailed reporting, reducing errors and enhancing financial management.

Harvest expense tracking dashboard with detailed reports

Business Tracking Expenses FAQs

  • When selecting an expense tracking app, look for features like mobile accessibility, integration with accounting software, detailed reporting capabilities, and ease of use. Harvest provides a mobile app for on-the-go tracking and integrates with QuickBooks Online and Xero, making it a practical choice for businesses seeking efficiency and financial visibility.

  • Real-time expense visibility allows businesses to make informed financial decisions quickly, avoiding overspending and improving budget forecasts. It is a top priority for 70% of finance teams. Harvest offers detailed reports that help analyze spending patterns, even if real-time dashboards are not available, providing essential insights for optimizing resource allocation.

  • Harvest aids in business expense compliance by offering a mobile app that digitizes receipts, reducing paper clutter and ensuring records are easily maintained for IRS requirements. This helps businesses avoid penalties and maintain accurate tax reporting, crucial for financial health.

  • Digitizing business receipts helps reduce paper usage, lowers storage costs, and improves accessibility for record-keeping and audits. It aligns with sustainable practices and enhances compliance with tax regulations. Harvest's mobile app supports receipt digitization, making it easy for businesses to manage expenses efficiently.

  • Yes, Harvest integrates with QuickBooks Online and Xero, allowing for seamless financial management and invoice processing. This integration helps streamline financial operations by ensuring consistent data flow between systems, although expense entries do not automatically sync.

  • Harvest improves financial visibility through detailed expense reports that can be filtered and exported for in-depth analysis. These reports help identify spending trends and optimize budgeting, which is crucial for maintaining control over business finances and making strategic decisions.