Expense report made easy
June 13, 2016

Expense report made easy

Vlad Merson | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Software Version

Enterprise

Overall Satisfaction with Expensify

We use Expensify throughout the whole organization. It is used by employees and managers from all departments. Expensify is used for two main purposes: 1) By employees to submit reimbursable expense reports 2) By managers to submit business credit card reports with receipts and description of expense to help the finance department book everything correctly in the accounting system and stay compliant with the IRS guidelines.

Expensify helps us stay paper free and saves a lot of time for both employees, managers and accounting staff. It also helps us to keep accurate records of our business expenses, with receipts and descriptions.
  • Expensify has the so called Smart Scan option which reads the receipt and is able to recognize vendor name, amount, date and match to the corresponding expense.
  • Easily forward email receipts directly from my email to my expensify account by forwarding the email to receipts@expensify.com
  • Allows to create a feed directly from the credit card to your exensify account, no need to enter manually, all credit card expenses get to your Expensify account automatically.
  • Allows for direct reimbursement by easily connecting my bank account to my expensify account.
  • Sometimes the Smart Scan option is not reading the receipts properly and creates duplicate expenses rather than attaching the receipt to already existing credit card transaction.
  • I would like to see an option for direct, one day, reimbursement of an amount higher than $100 as well. Right now for higher amounts the reimbursement takes approximately 4-5 business days.
  • I sometimes find Expensify being very slow when opening a report or attaching a receipt.
  • Expensify helps our employees to save time and concentrate on the core business activities by providing a simple platform for managing their business expenses.
  • Saves the company money by helping to move to a paperless environment where we do not need to print as much, or keep paper records of reports and receipts. I would estimate about 10 hours of saved time and a couple hundred dollars per month, every month.
  • The implementation and adoption process does take some resources and time so that would be the negative impact at the beginning but that is the case for every new tool implementation.
  • Concur
We found that Expensify is easier to use and the support was better. We enjoyed free of charge trial and the support team helped a lot with demos while we were in the implementation process.
In my opinion Expensify can save a lot of effort and time for companies with a number of traveling employees, a big sales team, or employees that travel and either use their personal funds and expense them as company reimbursable expenses or use their business credit cards and need to submit receipts and reports for firm's accounting records. It would be less suitable for very small companies that do not have traveling personnel. It would probably also would not be a great fit for big companies with 100's -1000's of employees.

Using Expensify

25 - Most of our employees who use Expensify are on the sales team. Other than them all business credit card holders (mostly company management) use Expensify to submit their credit card reports. The accounting department uses Expensify to help book expenses and import expense reports into QuickBooks Online.
1 - Nothing special is required. The tool is easy to use and support. For any questions or problems you can always reach help@expensify.com who are very responsive and helpful.
  • Submit receipts through Expensify.
  • Reimbursable mileage compliant with IRS rates.
  • Export reports to accounting software to save time on data entry.
  • We have added custom Classes and Expense Type fields to have a better understanding of business expense nature and to match our company's needs.
  • We import expense reports to our accounting software which saved a huge chunk of time on data entry work.
  • We have set up a two user approval process, where a direct manager would be the first to review and approve and the finance department will have a final word and approval.
  • We might start to import credit card reports directly from Expensify to QuickBooks. This will help us save even more time on data entry.
We like using the tool and we receive positive feedback from employees and management who use the tool. It saves time and helps us concentrate on the value adding activities so we are very likely to keep using Expensify in the future.