Expensify Simplifies Expense Reporting for Businesses

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Expensify is a game-changer for businesses looking to streamline their expense reporting process. It's a cloud-based platform that automates expense tracking, approval, and reimbursement.

With Expensify, employees can snap a photo of their receipt with their smartphone and submit it for approval. This eliminates the need for paper receipts and manual data entry.

Expensify's automated expense reporting saves businesses time and money, reducing administrative costs by up to 90%.

What Expensify Offers

Expensify offers a range of features to help you track your expenses and get reimbursed.

The app is free for up to 25 SmartScans of receipts per month, and then pricing starts at $4.99 per month for individuals or $5 per user, per month for companies.

You can track receipts and submit expenses to your employer with just one click, and the app will automatically read and log the receipt details. This includes the date, merchant, and amount.

Expensify also links to your bank account and personal or company credit cards to automatically import those expenses.

Users can customize their expense tracking to suit their needs.

For mileage tracking, Expensify connects to your GPS to easily track how much you drive for work.

The app offers two-factor authentication and world-class security standards to protect your banking data.

Key Features

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Expensify is a powerful tool that helps you track expenses, reimburse employees, manage corporate cards, send invoices, pay bills, and book travel. All at the speed of chat.

Expensify is built for various types of users, including self-employed individuals, small business owners, growing teams, and enterprise companies.

Key features include:

  • Chat: Keep your money moving with real-time chat built into every type of transaction.
  • Receipt scanning: Snap a picture of any receipt and SmartScan extracts the details.
  • Distance tracking: Log miles or kilometers on a beautiful map, at custom rates.
  • Manual expenses: No receipt? Just type in an amount. Still better than a spreadsheet.
  • Categorization: Code your expenses once and then we’ll learn to do it for you.
  • Submissions: Expenses auto-submit in real-time, or you can set a custom cadence.
  • Approvals: Add one or more expense approvers to your workflow for more control.
  • Expense chat: Questions about an expense? Ask and approve in the same place.
  • Reimbursements: Pay back your employees at home or around the world.
  • Expensify Card: Get up to 2% cash back on all US purchases and save on your bill.

Expensify also offers various integrations, including:

  • Accounting: Sync with QuickBooks, Xero, Sage Intacct, NetSuite, and more.
  • Security: 2FA, PCI-DSS Level 1, SOC1 and SOC2 Type II Certified.
  • Other integrations: Uber, Lyft, Delta, ADP, Gusto, Zenefits, Workday, and more.

Expensify's pricing is as follows:

  • Free for up to 25 SmartScans of receipts per month.
  • Unlimited SmartScans for employees: $4.99 per month.
  • Group pricing for companies starts at $5 per user, per month.

Great for Employees

Expensify is great for employees because it eliminates the hassle of keeping track of receipts, which can be a major pain for road warriors.

You can forget about taping receipts to paper and scanning them in for reimbursements.

Expensify makes it easy to manage expenses and submit them for reimbursement.

The app is a game-changer for employees who travel for work, making it easy to keep track of expenses and get reimbursed quickly.

Expensify is a great solution for employees who are tired of using spreadsheets or trying out awful apps to manage their expenses.

Pricing and Plans

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Expensify offers a free account that lets you access five SmartScans (OCR'd receipts) a month.

You can also take advantage of a seven-day free trial that can be extended up to 28 days by adding employees or using other features.

Expensify's pricing plans are designed to fit various needs, whether you're an individual or a corporation. For individuals, the "Track" plan is $4.99 per month, with unlimited SmartScans, automatic mileage tracking, and categorizing expenses.

The "Submit" plan is also available for individuals at $4.99 per month, and it automatically submits reports for reimbursement and submits receipts.

For groups and companies, the "Collect" plan is $5 per employee, per month, and it automates receipt collection and reimbursement, auto-syncs to accounting software, and offers a free Expensify card with auto-reconciliation.

The "Control" plan is $9 per employee, per month, and it manages approval workflows in addition to all the features of the "Collect" plan.

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Here's a breakdown of the different plan options for individuals and groups/companies:

Expensify's corporate Control version adds advanced policy enforcement, corporate card reconciliation, custom data exporting, and a customizable, multistage approval workflow.

A fresh viewpoint: Credit Cards for Employees

Automate as Much as You Want

Expensify's automation features are a game-changer for expense tracking. With customizable settings, you can tailor the system to your company's needs.

You can set standard mileage rates, default hourly rates, per diem charges, category limitations, and currency. For example, you can limit hotel charges to $2,000.

Expensify can create reports automatically every day, week, or month, depending on your schedule. This way, employees don't have to worry about creating reports manually.

The auto-harvesting option checks open reports nightly and approves those that match company policies. Policy violations are clearly tagged and identified.

You can also turn on an automatic approval feature, which automatically approves and reimburses reports without policy violations. This lets accountants focus on questionable expenses instead of trivial ones.

Here are some of the automatic features you can set up:

This saves time and effort for both employees and accountants.

App Review and Management

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Expensify offers a range of features to help you manage your expenses.

The app is free for up to 25 SmartScans of receipts per month, but for unlimited SmartScans, individual pricing starts at $4.99 per month, while group pricing for companies begins at $5 per user, per month.

Expensify allows individuals to track receipts and submit expenses to their employer, with the app automatically reading and translating receipts into logged expenses. This feature is particularly useful for those who need to keep track of business expenses.

The app also offers mileage and GPS tracking, as well as automatic credit card importing, making it a convenient tool for expense management.

Expensify offers customizable options, allowing users to tailor the app to their specific needs.

The app is available on both the App Store and Google Play, making it easily accessible for iOS and Android users.

Expensify prioritizes security, with two-factor authentication and world-class security standards in place to protect banking data, and compliance with Privacy Shield and GDPR requirements.

App Privacy

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App Privacy is crucial for users to understand how their data is handled. The developer, Expensify, Inc., is transparent about its privacy practices.

The app's privacy practices may include handling of data as described in the developer's privacy policy. This is where users can find more information about how their data is used.

Users should always check the developer's privacy policy to stay informed. This is a simple step that can give you peace of mind when using an app.

In some cases, the developer may handle data in a way that's not immediately clear. Checking the privacy policy can help clarify these details.

Check this out: Tech Data

Add Reports to Google Drive

Adding reports to Google Drive is a seamless process with Expensify. You can connect your Expensify account to Google Drive to access your reports.

Expensify integrates with various apps, including Google Drive, to make managing reports effortless. With Expensify + Google Drive, you can easily access your reports without having to switch between different platforms.

Here's an interesting read: Oracle Corp Vs. Google

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Here are some of the ways you can add reports to Google Drive using Expensify:

You can also connect Expensify directly to Google Drive, allowing you to access your reports without any additional setup.

App Review

App Review is a crucial part of managing your apps. It helps you stay on top of your app collection and make informed decisions about which ones to keep, delete, or update.

Having a clear review process saves you time and mental energy in the long run. You can identify which apps are no longer useful or are causing issues.

Regularly reviewing your apps also helps you spot potential security risks. For example, if an app is no longer receiving updates, it may become vulnerable to security threats.

A well-organized review process involves categorizing your apps into different groups. This makes it easier to prioritize which ones to review first.

Reviewing your apps at least once a month is a good starting point. This frequency allows you to stay on top of your app collection without feeling overwhelmed.

The Bottom Line

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Expensify is a standout in the expense tracking space, especially when it comes to serving the needs of large companies.

It targets these complex software integration needs and does a great job, earning our Editors' Choice designation.

One key differentiator is that most of its competitors focus on small companies, but Expensify goes the other way.

Frequently Asked Questions

Is Expensify a real company?

Yes, Expensify is a legitimate global company with a physical headquarters in Portland, Oregon. Learn more about Expensify's global presence and services.

Tasha Schumm

Junior Writer

Tasha Schumm is a skilled writer with a passion for simplifying complex topics. With a focus on corporate taxation, business taxes, and related subjects, Tasha has established herself as a knowledgeable and engaging voice in the industry. Her articles cover a range of topics, from in-depth explanations of corporate taxation in the United States to informative lists and definitions of key business terms.

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