APPS

One of the main issues facing self-employed business people, such as ridesharing drivers for Uber and Lyft, or couriers for UberEats, GrubHub, Amazon Flex and basically any car-related gig employment, is, tracking expenses. This does not mean recording or keeping invoices and electronic receipts. This means tracking them per hour, per mile or per shift and associating them with a specific expense account or business.

Let’s face it, not every self-employed individual stick to one source of income, so it is important to be able to allocate and track task-specific expenses including home expenses that are allotted to home-based businesses. The gig economy is rife with apps and opportunities for individuals to generate income by any means. However, in general, each job generates expense. So, we decided to give you help and list here the 6 best expenses trackers we found and tested for 2018.

Consider that even these apps upgrade and change on a frequent basis, so this article will be updated to meet the changes as well as review the latest emerging apps that break the consensus.

Spendee

Free on Android and iOS

Spendee is a comprehensive yet simple expense tracker. This app allows you to categorize expenses and allocate them to specific projects or clients. It also enables you to assign and photo receipts, which is great for maintaining an infographic of expenses. You get two viewing methods, the first is feed view which allows you to review your expenses quickly and the overview mode that lets you view everything with infographics on your spending habits. This app includes a budget creation function, so you get two services in one, an expense tracker as well as a budget monitor. This is a nifty app if you want to limit your expenses against your income. The final extra is that it syncs to your bank account, so you can track actual transactions and compare to expected and projected.

Fudget

Free on Android and iOS

One of the reasons that Fudget caught our attention is due to its simplicity. Instead of going overboard with features and functions, this little app provides you with a straightforward tracking app.  What you do is create simple lists of income and expenses. With one tap you add or edit the category. There are only two categories to edit, so its simple. You can star an expense or income so it can be repeated whenever it occurs, and you can use it any time you like. The upside: this is a simple product, easy to use, easy to operate. The downside; this is too simple, and not enough date, time and budget allocations, you cannot allocate expenses or income to specific clients or projects.

YNAB

$5 per month on Android and iOS

The mobile version of YNAB is their way to connect you to the “You Need A Budget personal budgeting platform” always. This app enables you to maintain your YNAB account from your smartphone, so it acts as a “cloud” controller for your account while you work.  What you get is a way to view your accounts and budgets, edit, add and modify new actions as and when they happen. Basically, this little app is a conduit to the main app that sits in the cloud, allowing you to maintain your budgets so long as you have internet access.   The actions that you get from the mobile app are some tutorials and tools to help you learn to manage your budgets even better than you are doing so.

Expensify

Free on Android and iOS

This is a great app for the self-employed. It was originally developed for the employee that travels a lot, and they designed so many features that it was obvious it had to evolve into a great expense tracking tool. This app gives you one-click receipt tracking, it features automatic receipt scanning where you scan in the receipt, and the patented SmartScan OCR converts the data into text info as well as retain the original image. You can separate expenses for different budget categories, such as when you work for more than one client, or even when you are on holiday. The extra amazing feature is its built-in GPS mileage tracker, which makes this app great for Uber, Lyft, Amazon Flex and, well any car-related gig economy. You can also import your credit card data (sync) which allows.

Goodbudget

Free on Android and iOS

If you are a home-based business and need to keep track of budgets and expenses generated by multiple household members, then this is the app for you.  The system that Goodbudget developed includes the “envelope” system, where everyone that uses the system can sync together and manage accounts as one group. The app allows you to create categories and budgets, and while the original focus was on household budget control. This app is perfect for gig economy management too.

Expense IQ

Free on Android only

Expense IQ (formerly EasyMoney) is a useful app and has been (is still) in use by many ridesharing drivers. This app comes with an expenses tracker that records all expenses at a tap of the screen and includes a photo attachment option. It also provides a budget planner that gives you categorization for effective monitoring. This app also includes a nifty payment reminder, so you don’t miss any payments, as well as reports and charts generator to create and view data for analysis. Another feature included is cross-cloud synchronizer that will enable more than one user to synchronize expenditure related to specific clients.