Spendwise is cloud-based accounting software that lets you track your business financials and manage your spending activities. It allows users to generate purchase orders, create budgets, and manage bills and expenses. It also generates reports to ensure that you are always on top of your spending. Its plans start at $9 per user, per month, and it works best for startups and small to medium-sized businesses (SMBs).
Spendwise Pros and Cons
Clean easy-to-use user interface
Search function needs improvement
Convenient sending of purchase orders
Lacks training manuals
Comes with user roles
Who Spendwise Is Best For
- Startups and SMBs: Spendwise’s affordable plans can accommodate the expense management needs of solo entrepreneurs or small businesses that have up to 25 users.
Spendwise pricing varies across three subscription plans: Basic ($9/user/month), Pro ($19/user/month), and Enterprise (customized pricing). The main differences between the subscription options include the number of users and monthly transactions as well as access to premium features like multiple dashboards, approval limits, and inventory management.
Number of Users
Up to 5
Up to 50
Number of Monthly Transactions
Up to 10
Spendwise’s Basic plan supports up to five users and 10 transactions per plan. It comes with basic features like the ability to create, approve, send, and receive purchase orders, invoice matching, and basic reports.
The Pro plan comes in packs of five users each. Subscription is good for up to 50 users and can accommodate as many transactions as you have in a month. It includes all the features in the Basic plan. In addition, it comes with multiple dashboards, approval limits and workflows, and custom user roles. It can also be used to generate and track budgets. Users of this plan may purchase an add-on implementation package.
Enterprise can be used by an unlimited number of users and can be used to track unlimited transactions per month. It offers all the features in the Pro plan. A subscription also comes with priority support and an implementation package. Users of this plan may purchase the following optional add-ons: accounting system integrations and inventory management.
If you are interested in trying out Spendwise, visit their website to sign-up for a 30-day free trial or to schedule a product demonstration.
Spendwise Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing and distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
Spendwise has a wide range of features to help you plan, manage, and monitor your expenses. It has a single platform where you can securely store your data and access it anytime, eliminating the need for paperwork and reducing your administrative costs. Check out the following roundup of Spendwise’s top features.
Spendwise allows users to create, copy, edit, print, and void bills using the platform. This helps them keep track of invoices received from vendors and ensure that no bill falls overdue.
Charts of Account
The charts of account feature is used to track income, expenses, and balances. It organizes items by category and allows users to filter information shown to them. Accounts may also be exported for improved portability.
Spendwise has a dedicated contacts dashboard that allows you to check your vendor or customer information quickly.
Spendwise helps you automatically match invoices to purchase orders and delivery receipts. This speeds up invoice payments and enables you to catch and correct discrepancies in your transactions.
Generate financial reports to gain valuable perspective and insight into your company’s spending and overall financial health.
Spendwise helps you create and track your expenses and make plans for purchases.
Most Helpful Spendwise Reviews
A majority of Spendwise reviews available online have given it positive feedback. Users like that it gives them a convenient way of sending purchase orders and invoices. They also praised its clean and easy to understand dashboard. A few, however, noted that software updates are not properly documented and that they seldom come with training. Others reported encountering problems with its search function.
Greatly improves procurement mechanisms
One reviewer on SoftwareAdvice commented that the software enhanced their company’s experience with spending and procurement. He added that it helped their procurement team’s ability to monitor invoices and purchase orders. He also liked that the software is accessible via the cloud.
Search function needs improvement
One user who left a negative comment on Capterra said that its search engine function is very specific, making it difficult to pull up data at a moment’s notice. He wished that the results were better organized, specifically when showing information on vendors and orders.
Spendwise Frequently Asked Questions (FAQs)
Do I need to download software to use Spendwise?
Spendwise is a purely cloud-based software. All you need to access your Spendwise data is an internet connection and a browser.
Can I end my plan anytime?
However, please note that Spendwise doesn’t provide a refund on amounts that, regardless of the cancellation date, have already been paid.
Can I customize my invoices?
Spendwise allows users to add their own logos to their invoices, purchase orders, and other forms. Please note that the minimum recommended size of logos is 250×125.
Our Top Accounting Software Picks
In case you still aren’t sure if Spendwise is right for you, then this article on the best small business accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on cost, ease of use, and features like the ability to produce detailed financial statements and other reports to give you insight into the financial health of your business.