We Gave Expensify Three Stars | Software Saturday

Expensify says it is for solo owners all the way up to enterprises, and that is the part we disagree with most. It is not for solo owners. I used it years ago at the church and it genuinely changed my life, because it was the first app that let me photograph a receipt instead of keeping a spreadsheet and carrying paper around. But it is built for a company with an accounting department or a business manager who can babysit it. It runs on submitted reports, so an employee can spend all month and you see nothing until the report lands. Once an export hits QuickBooks you cannot pull it back, so one wrong hundred line report means hunting and deleting every entry by hand. And your accountant cannot see any of it unless every employee adds them as a co-pilot. Three stars. If you love your points card, keep it for your own purchases and put your team on something easier.The tool we point people to instead is Bill Spend and Expense, which we covered in Episode 18: The link below is an affiliate link. We use Bill Spend and Expense in our own business and we would recommend it either way, but if you sign up through that link we may earn a commission at no cost to you.Get $500 with Bill Spend and ExpenseBook a Free Call with PennyConnect with us:FacebookInstagramLinkedIn1610 Financial SolutionsTakeaways:Expensify runs on submitted reports, so you have no visibility into employee spend until the report lands, which can be a month after the money is already gone.Once an expense exports to QuickBooks it cannot be pulled back, so one wrong hundred line report means deleting every entry by hand.The merchant field does not match QuickBooks vendors, so somebody still has to sit and reconcile Walmart against Walmart.Your accountant cannot see anything inside Expensify unless each employee adds them as a co-pilot, which is its own chase with field crews.If you want the points on your own card, keep Expensify for that one card and put your employees on a platform that issues its own.This show is for general information and encouragement. It is not tax, financial or legal advice. Please consult a professional about your particular situation before you make any decisions.