Abacus - Expense Management Alternatives

Abacus - Expense Management

Abacus is a powerful, web and mobile application that helps manage employee expenses & reimbursements. Relying on advancements in mobile and banking technology, it eliminates the need to file expense reports and payments are processed much faster than traditional methods.

With Abacus, employees can file expenses as they incur them by using either the app or by logging in through the website. It takes less than a minute to take a picture of the receipt and submit it for approval and reimbursement. Abacus records all the necessary information related to the expense: such as category, tag, vendor, etc. It’s more flexible for everyone involved.

Once users have connected their bank account to Abacus, payments are processed securely through the app. As soon as an expense is approved, the software facilitates a ‘fast reimbursement' back to the employee so they’re usually paid back within 1 to 2 business days. All communication goes through the system, so administrators get better visibility and control over company expenses.

Administrators are also able to create spend reports after the fact by filtering expenses on different parameters such as employee, vendor, category, location and project. We really like that it also syncs up with popular accounting packages like Quickbooks or Xero, so accountants always have the most up-to-date information and don’t have to worry about manually recording any charges.

Other features available in the system include policy controls and corporate or personal card linking. Abacus is affordably priced based on the number of active users. We recommend them to small to mid-sized companies who need a seamless platform for tracking expenses and reimbursing employees.