Expensify

Time & Expense Tracking

Expensify's Time & Expense Tracking feature allows employees to accurately record their working hours alongside related expenses. Employees can easily input billable hours and associated costs directly into the application, providing managers with real-time visibility. This ensures accurate client billing, project budgeting, and significantly reduces manual entry errors, solving the business challenge of tracking labor costs and expense accuracy in a streamlined manner.

Mileage Tracking

With Mileage Tracking, Expensify simplifies the process of capturing travel-related expenses by automatically recording miles traveled during business trips. Users can track mileage using GPS functionality on their mobile device or by manually entering routes. This provides clarity on reimbursable mileage expenses, simplifies compliance with tax regulations, and eliminates inaccuracies or misuse associated with manual mileage reporting.

Third-party Integration

Expensify seamlessly integrates with popular third-party applications such as accounting systems, payroll solutions, and ERP platforms. This integration allows data to flow smoothly between Expensify and your existing software environment, eliminating the need for manual data transfers. This solves the challenge of fragmented financial management processes by ensuring accuracy, efficiency, and consistency across your organization's financial ecosystem.

Expense Approval

The Expense Approval feature streamlines your company's expense approval workflow by allowing managers and administrators to review, approve, or reject expense claims directly within Expensify. Clear visibility into submitted expenses and easy-to-use approval interfaces speed up processing times and reduce confusion about expense validity. This addresses the business challenge of delayed reimbursements and inefficient approvals that slow down overall productivity.

Reimbursement Management

Expensify's Reimbursement Management feature automates employee expense reimbursement by enabling direct deposit reimbursements into employee bank accounts. The system clearly tracks reimbursements status, reducing administrative overhead while ensuring prompt repayment to employees. This solves the problem of delayed reimbursements and the complexity associated with manual payment processes.

Spend Control

The Spend Control feature helps administrators set spending limits, create expense policies, and monitor employee expenditures in real-time. Managers receive alerts when expenses exceed predefined thresholds or violate company policies, enabling proactive management of budgets and financial compliance. This addresses the common business challenge of uncontrolled spending and policy enforcement issues.

Multiple Reporting Currency

The Multiple Reporting Currency feature allows your business to manage and report expenses in various currencies effortlessly. Expensify automatically converts submitted expenses into your organization's base currency using up-to-date exchange rates for consistent financial reporting across global operations. This feature solves the complexity of international expense management by simplifying currency conversions and ensuring accurate cross-border financial reporting.

Receipt Management

Expensify’s Receipt Management enables users to conveniently store, organize, and attach digital copies of expense receipts directly within the platform. Receipts can be easily uploaded from mobile devices or desktop computers, simplifying document storage and retrieval for auditing purposes. This solves the problem of misplaced receipts, reduces paperwork clutter, and ensures compliance during audits.

Receipt Scanner

The Receipt Scanner in Expensify uses advanced OCR (Optical Character Recognition) technology to extract key details from receipt images captured through a smartphone camera or uploaded files. It automatically captures vendor name, date, amount spent, and categorizes expenses accurately without manual data entry—eliminating human error while drastically reducing time spent on expense reporting tasks.

Bank Feed Sync

Expensify's Bank Feed Sync securely connects directly with your company's banking institutions to automatically import transaction data into your expense management system. Transactions are matched with submitted expenses or flagged for action if unmatched—saving valuable time on reconciliation tasks while ensuring accuracy in reporting financial transactions.

Tax Claim

The Tax Claim feature helps businesses clearly identify tax-deductible expenses within their submitted reports by flagging eligible items automatically based on predefined tax rules or categories. This makes tax preparation simpler by clearly identifying deductions available to your organization, minimizing missed tax deduction opportunities and reducing complexities during tax filing periods.

Reconciliation Summary

Expensify’s Reconciliation Summary provides administrators with a comprehensive overview of all recorded transactions versus actual spending reported by employees within a specified period. It simplifies month-end closing processes by clearly identifying discrepancies between reported expenses and actual financial transactions—solving reconciliation challenges such as time-consuming manual checks or overlooked discrepancies