Expensify is an application developed with the premise that the process of creating accurate expense reports doesn’t have to be nearly as difficult as most people make it. Rather than letting receipts pile up and manually typing each item you’ve purchased into a massive spreadsheet, Expensify lets you import expenses directly from your credit card without any typing, photocopying, or calculator usage required. Although the application is aimed at employees, accountants, freelancers, contractors, and students, it could really be used by anyone at all who needs to keep track of expenses for tax purposes or to receive reimbursement from work.
To start creating expense reports with Expensify, create an account with your Gmail, Google Apps, or Yahoo! login. The application also integrates with FreshBooks, QuickBooks, and SalesForce, which means people who already use these services can input even less information before getting started. To begin creating expense reports, add your credit card or online banking information, and watch as Expensify begins populating the page with all of your most recent transactions. Click on any purchases that were business-related, and Expensify will automatically gather and save the e-receipt for that purchase. If an e-receipt isn’t available for the transaction, then Expensify will prompt you to scan the original receipt to be saved and archived as a PDF file. Once all of your receipts have been uploaded, Expensify will handle everything and produce an accurate, complete expense report without any math required.
In addition to handling basic expense reports, Expensify also offers a number of advanced features such as mileage logs, time trackers, and mobile applications that let you input expenses directly at the time of purchase. For managers who are responsible for reimbursing employee expenses, the application lets you approve expense reports online and reimburse via credit card or direct deposit. Now that paper receipts are increasingly becoming a relic of the past, Expensify is positioned to become the new way that expense reporting is done at businesses across the country.
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