Expensify Review - why 4.4 stars?

Shlomi Lavi / updated: Aug 23, 2022

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What is Expensify?

Expensify is an expense and report management solution for businesses of all sizes. It streamlines expense report creation and also offers analytical and management services. The software was designed and launched by Expensify Inc headquartered in California, United States.

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Who is it best for?

Customers of the software include businesses of all sizes and types. It has been used in a wide range of industries, among them being technology, software development, media and entertainment, publishing, financial services, automation, retail and sale, manufacturing, and others. Some major customers of the software include Mashable, Camp Kesem, and Reformed University Fellowship etc.

Main features and functionalities

The software simplifies the management of expenses and allows quick addition of cash expenses. It automatically imports all card transactions and captures various billable expenses such as mileage and time. It also offers direct bank import, global compatibility, smart categorization, and custom invoices.

Clients can get rid of the paper receipts and manual operations with the facility of unlimited receipt upload and storage. Receipts can also be auto-associated with expenses. Other features related to receipt management include smart scanning, guaranteed eReceipts, receipt forwarding, and receipts apps.

For easy administration, the software allows the processing of hundreds of reports with a single click. It also offers compliance services and integration with a variety of popular third party applications.

What is the actual cost?

Expensify offers plans for businesses, individuals & self-employed professionals. Expensify pricing features three plans for businesses: Free, Collect, and Control. For individuals & self-employed professionals, Expensify offers two plans – Track and Submit.

• There are free plans, featuring expense reports, expense & mileage tracking, invoicing, payment collection, etc. The Free plan covers an Expensify card, expense reimbursement, invoices, and bill payments.
• Collect pricing starts at $5/user/month, billed annually. Plus features of the Free plan, Collect offers custom coding, expense approval, accounting sync, etc.
• Control pricing starts at $9/user/month, billed annually. Control covers all features of the first two plans plus multi-level approval, custom reporting, and expense policies.

ITQlick pricing score is 2.8 out of 10 (10 is most expensive). Access ITQlick pricing guide for Expensify. You can also find here pricing information from Expensify's website.

Pros

• Expensify is easy to learn and use
• The software is a feature-rich solution with bill payments, expense and mileage tracking, and numerous other capabilities
• Expensify has powerful automation and accounting integration tools

Cons

• The corporate card integrations on Expensify have limited support regarding receipt imports
• The approval workflows could use more flexibility

How it stacks up?

Access a head to head analysis of Expensify vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is Expensify right for you or your business?

Expensify is an expense management solution for businesses, individuals, and self-employed professionals. The software is highly scalable for small, midsize, and enterprise organizations. Spark Microgrants, ideo.org, and Vend are some notable customers using Expensify.