If you’re using an expense tracking app to manage your finances, you’re likely concerned about security. As with any app, you should always check its security measures. A good budgeting app should use industry-standard security measures to protect your financial information. Look for encryption standards and two-factor authentication, which adds an extra layer of security to your password. Check to see if the app is owned by a big financial institution, as many do.
Free apps don’t usually have all the features you need, so make sure to compare the free apps against the paid ones. Also, consider the features you’ll need from an expense tracker and how much you’re willing to spend. Free apps are typically adequate to record your expenses. Paid apps come with more features and will cost you a little more. However, be prepared to spend more if you want more business-related features, such as the ability to create invoices. Many apps also have a free version, so you can try it out before you make a decision.
Free versions of expense trackers often have a trial period, so you can test the software before paying a cent. Expensify, for instance, allows you to import receipts from various sources. Once imported, it creates a detailed expense report and sums them by date, making it easy to submit to an auditor for scrutiny. Expensify offers multi-level coding, encryption, and split knowledge key for added account safety.
