If you stay in Lagos, Nigeria, for instance, it may be almost impossible to keep track of all your business details as an entrepreneur, be diligent in your religious beliefs, juggle the Lagos traffic, and then have a clear figure on your expenses. Nearly impossible, if you ask me.
Working hard should never be so complicated when you’re in the circle of knowledge, especially when you have access to the right tools that make you worry less about Lagos traffic. I bet you can relate to what I mean by the value of time even in the diaspora. Apps have come to ease the journey, and I know just one that will put a smile on your face: Expensify!
This post will give you an understanding of what the Expensify app does, how you can take advantage of it, and the perks that come with it. But before we go straight into that, do you know that your SEO can be effective with the management of the right team like The Watchtower Dubai? Check them out in your spare time.
What is Expensify?
Expensify is a financial management tool that helps individuals and businesses track, report, and reimburse expenses. It is available as a mobile app and a web application.
With Expensify, users can take photos of receipts and upload them to the app, which uses optical character recognition (OCR) technology to extract and categorize expenses automatically. Users can also manually enter expenses and assign them to categories and projects.
What features does the Expensify app have?
The app provides features for creating and submitting expense reports, tracking time, managing budgets, and integrating with various accounting and finance software.
Expensify is designed to make it easier for users to keep track of their expenses, streamline the expense reporting process, and reduce the time and effort required for expense management. It is particularly useful for business travelers, freelancers, and small business owners who need to track and manage expenses for tax purposes or reimbursement.
How do I use Expensify for receipts?
To use Expensify for receipts, follow these steps:
- Download and install the Expensify app on your mobile device.
- Sign up for an Expensify account and log in to the app.
- Go to the "Receipts" tab and select "New Receipt."
- Take a photo of the receipt using your mobile device's camera. Alternatively, you can select an existing image from your device's gallery.
- The app will automatically extract and categorize the expenses from the receipt using OCR technology. If the extraction is not accurate, you can manually edit the expenses and categories.
- Add any additional details about the receipt, such as the vendor, date, and project.
- Save the receipt by selecting "Create Receipt." The receipt will be added to your Expensify account and will be available for use in expense reports and other financial management tasks.
Note that you can also manually enter receipts by selecting "New Receipt" and manually entering the expense details, rather than uploading a photo of the receipt.
Is Expensify free to use?
Expensify offers a free version of its app, which allows individuals and small businesses to track, report, and reimburse expenses. The free version includes features such as receipt scanning and categorization, expense report creation and submission, and integration with accounting software.
Expensify also offers a paid version called Expensify Plus, which includes additional features such as time tracking, budget management, and advanced expense report customization. Expensify Plus is designed for larger businesses and organizations and is available on a subscription basis.
You can sign up for a free Expensify account and use the app for free, or you can upgrade to Expensify Plus if you need additional features. It's worth noting that some features, such as integration with certain accounting software, may require a paid subscription even in the free version of the app.
With the Expensify app being an integrated accounting app that allows one to sync expense reports without having to manually enter expenses again, you can manage your creative time better by addressing only the things that promote your craft, while you allow the software solves your expense reports.