2019 Review of Expensify

Expensify is a scalable travel and expense management application that is well suited for businesses of just about any size. Expensify is currently available in four editions; Track, Submit, Collect, and Control. Both the Collect and the Control editions offer good integration with third party applications and all editions offer mobile capability as well.

Expensify is web-based, working with desktop and laptop systems as well as smart phones and tablets. Setup is easy in Expensify, with users guided through a series of questions that simplify the setup process. Receipts are easily managed in Expensify, with users able to snap a photo of a receipt, add specifics, with the SmartScan feature handling the rest of the process. Users can also email receipts by forwarding them to the SmartScan feature, where the receipts will be scanned and details entered. Receipts can also be uploaded from the web, or can be dragged and dropped directly into their account as needed.

Expensify supports multiple user roles, with both policy users and administrator roles available. There is also a policy auditor role that is well suited for accountants and bookkeepers. Managers can also create employee groups to manage employees more efficiently.

Expensify offers multi-currency capability; currently supporting more than 160 currencies. The product also integrates with a variety of top travel applications including AirPlus, Egencia, NexTravel, TravelPerk, Travelport Locomote, and Tripcatcher. Users can also track mileage using the mobile app, which can be used with odometer readings or GPS calculations. The product also allows users to easily import credit card data using a spreadsheet, or simply generate automatic receipts using the eReceipts feature, though the eReceipts feature can only be used when connected to specified banking institutions.

Expensify offers multiple workflow modes, making it easy to route expense reports to a single approver as well as multiple approvers. Multiple users can be assigned to specific groups and approval limits can be assigned to specific approvers as well.

Expensify offers a rapid reimbursement feature that will process all approved employee reimbursements within 24 hours. Once processed, the reimbursement can be deposited directly into the employee’s bank account via ACH. Another great feature is the ability to enter spending controls during the setup process, with managers flagged when employees exceed spending totals.

Expensify has automated the expense and reporting process using a Scheduled Submit feature, which will automatically create expenses using emailed receipts. The Concierge feature then adds receipts to an open expense report. If no report is open, a new report will be created. Users can easily schedule the submission frequency for all reports, with reports automatically submitted to the specified approver once completed.

Expensify also includes excellent travel reporting, offering users the ability to view travel costs, though other reporting options are limited to exporting data to a spreadsheet file for customization.

All editions of Expensify offer integration with both Uber and Lyft. The Collect edition of Expensify integrates with Bill.com, QuickBooks Desktop, QuickBooks Online, and Xero. Additional integrations are available in the Control edition, including NetSuite, Sage Intacct, FinancialForce PSA, FinancialForce Accounting, Oracle, and SAP.

Expensify offers a good selection of help and resource options for system users including the ability to enter search terms or a specific question that that needs to be answered. The product website also offers a variety of resources including a setup video, webinars, and other product training options. There are a variety of getting started guides available for submitters, product administrators, and accountants and users can also utilize Expensify Day-to-Day, which provides a good selection of articles that cover topics such as eReceipts, trips, tracking, and international product use. Integration guides are also available for those that wish to integrate Expensify with other third-party applications. Product support is only available via email, with Expensify guaranteeing a 24-hour turnaround time on all support requests submitted.

Expensify is a scalable travel and expense management application that is best suited for very small to mid-sized businesses. Expensify is available in four editions; Track, which is for individuals, Submit, which is for small businesses, Collect, which is for businesses that need automated receipt collection, and Control, which offers complete expense management capability along with integration with a variety of third-party applications. Both Track and Submit offer a free version, with the standard cost running $4.99 per month. Collect runs $5.00 per user per month, and Control is $9.00 per user per month. All versions offer a free trial.

2019 Rating 4.75 Stars