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Expensify manages expenses and transactions in real-time by offering account summaries, date calendars, and transparency features. It also provides powerful tools for tracking travel expenses. While it may have a learning curve and limited customization options, it meets the needs of most businesses effectively.

Expensify Specifications

Financial Reporting

Invoice Management

Expense Tracking

Tax Management

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What is Expensify?

Overview

Expensify is a cloud-based business accounting system designed to help users manage spends, transactions, and related financial matters using real-time data processing. The platform offers user-friendly tools to maintain business-wide transparency, track expenses and different ratios such as debt-to-income ratios by keeping summaries of multiple accounts and date calendars. Expensify offers easy currency conversions for international traveling and purchases receipt photos or copies for accurate records to prevent any crisis or undesirable situation.

Users can track travel expenses by calculating the amount of time spent by a user on a particular project or by calculating the miles that personnel has traveled. It helps users to automate the entire expense calculation process in order to save time and physical resources as well as minimize any errors.

Integration with Quickbooks, Xero, NetSuite, Sage Intacct, and Dynamics, etc. is facilitated. Complete support for all Android and iOS powered smartphones and tablets is offered.

Pricing: Two pricing packages are offered, Team for $5/user, Corporate for $9/active user, and Enterprise, the pricing for which is provided by quote.

USP: The solution offers powerful tools to track your travel expenses based on the miles traveled or the amount of time spent on a particular project.

Support: Support is provided via phone and email.

Product Advantages: Easy implementation. User-friendly UI. Great affordable pricing. Image scanning extracts the relevant information.

Product Limitations: Integration is not very smooth, a lot of key things missing. Customer support is scarce. Processing large reports is slow and causes the system to crash or freeze at times.

Pros and Cons of Expensify

Pros

  • The OCR feature automates the expense entry process by reading and inputting data from receipts
  • The mobile app is highly rated for its intuitive design and functionality
  • Streamlines the expense approval process for administrators to review and approve expenses
  • Integrates well with accounting software for managing financial data across different platforms

Cons

  • Occasional problems with credit card synchronization, leading to delayed data imports
  • Lacks advanced customization options for larger organizations

Expensify Reviews

Overall Rating

4.3

25 Review(s)

Rating Distribution

5

star

(15)

4

star

(7)

3

star

2

star

(2)

1

star

(1)

June 2024

A game changer when we implemented it

Corinna

Marketing and Advertising

Ease of use

10

Value for money

10

Customer Support

10

Functionality

9

Pros

App functionality, scanning and recognition, is quite clever in remembering my recurring expenses and VAT allocations, saving time on all tasks: from creating reports to finance verifying and processing my reimbursements.

Cons

I require different profiles for separate setups in various countries I frequently travel to.

June 2024

Expensify for Small Businesses

Jenny

Marketing and Advertising

Ease of use

8

Value for money

8

Customer Support

8

Functionality

8

Pros

Expensify was simple to tailor (both fields and groups for employees), allowing us to align it perfectly with our needs and establish distinct parameters for various employee groups. The mobile functionalities are also incredibly handy.

Cons

I find it beneficial to personalize some of the automated report submissions and set various reminders for employees.

May 2024

Good Tool. Gone Woke

Matthew

Non-Profit Organization Management

Ease of use

10

Value for money

4

Customer Support

10

Functionality

10

Pros

We adored this tool. It performed exceptionally well for our nonprofit, seamlessly integrating with credit cards and payment systems.

Cons

Two things bothered me about Expensify. First, they started integrating DEI into their marketing, prominently featuring BLM materials on their site. I prefer they focus solely on processing receipts rather than pushing progressive ideals. Second, I couldn't connect with my primary banks anymore.

View All 25 Reviews

Frequently Asked Questions

Yes, Expensify offers an API.