Expensify is a comprehensive tool that can take the lead on just about every aspect of managing and maintaining the expense reports for your business.
- OCR lets you capture all the pertinent expense information with a single snapshot
- Categories and tags to more effectively file away spending
- Integration with apps like Google Maps, NexTrael, and various Point of Sale systems
- Exceedingly simple to use
- Coordinates expertly with a huge variety of different apps
- Free trial period lets you try before you buy
- User interface has a fairly steep learning curve
- Credit card links sometimes require manual updates
There are few chores in the business world more boring than dealing with expense reports. It's a tedious task that can drag down your life and draw attention away from the big picture issues that need to be addressed to keep your business running. Expensify can automate much of the process and track spending regardless of how many employees you're dealing with or how complex expenditures become. It does so by taking the hassle out of recording expenditures on the part of your team members and by creating a structured, automated, and readable layout of results for the big picture management of expenses. With Expensify, you don't have to worry about maintaining a drawer that holds all the paper receipts and other stray papers that account for much of the expense account documentation. Practically any document can be quickly integrated into your expense account database, and there are a number of ways to record this spending. The mobile app integrates incredibly well with the larger software infrastructure, and it includes an optical character recognition (OCR) scanner that can capture the contents of a receipt and quickly translate it into clean numbers that are easily read and easily folded into a database or spreadsheet. But you can also quickly translate digital receipts sent to a specific email, credit or debit card reports, or website uploads. If you have a lot of data to process at once, it can sometimes be easier to handle it manually, and Expensify provides quick and simple access to a spreadsheet management form to which digital documents can be assigned as attachments. The interface is really professionally handled, and employees looking to document their expense reports can do so easily using nothing but the mobile version of the app. The OCR will generally capture the most important information from a receipt automatically. But dumping all of your expenses into a single pool is far from the most effective way to handle management of expense reports, and that's why the mobile app allows you to designate categories, tags, and even specific reports to file your expenses under. These are all handled as assigned pull down menus, but users can write in their own comments as well. While the OCR and other forms of receipt capturing will likely cover the bulk of business expenses, Expensify has a pretty robust range of secondary options for less discrete spending. Recording odometer readings will allow you to easily calculate mileage expenses according to the criteria you set, but Expensify can also coordinate smartly with GPS coordinates as a way of tracking mileage. That's just the tip of the iceberg where integration is concerned though. Expensify coordinates well with a number of the most popular apps and software used by businesses to help create automatic expense reports without having to enter anything manually.