Expensify: A Cloud-Based Tool To Manage Expenses On The Road

Small business owners have limited time and resources, which is why they shouldn’t waste either on cookie-cutter software solutions that don’t react, can’t evolve, and aren’t flexible enough to meet their needs. This is the first in a series that shares some of our favorite tools.  These tools all share a common goal:  allow entrepreneurs to streamline their business and improve productivity. 

First up in the Accountfully tool box is Expensify.

Tired of tallying up mileage at the end of the week? Done with counting receipts after a long trip? Sick of logging hours after a project completes? Have no fear; we have an app that’s about to make your life a whole lot easier: Expensify. Our go-to tool for our on-the-go work, Expensify has become an integral part of our reporting process.

Case Study:  Logging Expenses Over a Recent Nashville Trip

We recently traveled to Nashville for business and put Expensify to the test.  Turns out, we were able to actually enjoy catching up with the Nashville team and spent more quality time and way less admin time.

Our three favorite features from the trip:

1. Once in Nashville, we traveled between clients quite a bit. Using Expensify’s mobile app, we created mileage reports that synched up with our GPS. It required little work on our end, and gave us an accurate and easy to read report of the miles we logged.
2. We were working with multiple clients, which meant we needed to tag expenses to specific clients and designate them as billable or reimbursable. Expensify let us do this with ease and organized everything in one place.
3. Once the trip was done, it was done and we weren’t required to input a week’s worth of expenses into our accounting system. Everything synched up with a single click.

Feature Snapshot

• Pricing is flexible and features are scalable with a growing business.  Plans start at $4 and there is a free trial option to see if it jives well with your business.
• Next-Day Reimbursement: As soon as reports are approved, rapid reimbursement delivers the money right into the employee's bank account within 24 hours via ACH direct deposit.
• Automatic Approval Workflows:  Admins can customize expense policy rules for their organization and configure Expensify to flag any expenses that actually need a manager’s review. The rest — like that $3 coffee receipt — are automatically approved.
• Automatic Accounting Sync:  Any changes made in your accounting system are automatically synced with Expensify in realtime for constant visibility into your organization’s finances, making audits and tax season a breeze.
• Easy-To-Use Mobile App:  No more spreadsheets, no more lost receipts, and no more manual data entry. Expensify’s mobile app makes it easy for your clients to track receipts on-the-go and submit expense reports on time.
  
  

The Bottom Line

Whether you’re a startup looking for an app that can grow with your business, a digital agency that needs to streamline your workflow, or a freelancer who needs simple expense reporting on the go, Expensify is a great tool that will keep track of and organize all your expenses.

• • •

Accountfully serves client businesses across the nation from their offices in Charleston, SC and Nashville, TN.  If you are ready to outsource the boring stuff, and get back to focusing on the reasons you started your business, tell us more.  We would be happy to talk more and see how we can support your unique business goals.