We are constantly getting complaints about how to manage all the receipts and expense reports that go with owning a business.
Are you a fan of expense reports? Not many people are. Because they aren’t enjoyable, they often only get done occasionally, and as a result they end up months behind and most often there is at least one receipt you can’t find when you are trying to finish them up.
Additionally, traditional expense reports always seem to take a lot time to produce, as you go through and enter information from receipts, credit card statements, bank statements and your calendar. You keep on typing the date, the amount, the vendor and a note about the transaction over and over. Plus, you need to keep track of the paper receipts!
We began using
Expensify when we started and it has really simplified this process for us. Here are some of the reasons we like using this to solve this pain.
Expensify does away with spreadsheet programs like Excel and replaces it with a simple web browser. This great service makes it easy to use your phone to take pictures of receipts right after you sign them! They then automatically get uploaded so you won’t ever lose them. You can also upload receipts you’ve scanned, which takes care of envelopes or stacks of your receipts laying around.
One of the best things they do to save you time is that they import transactions from your bank statements or credit card statements, saving you time from entering all that information. Instead of typing, just click which transactions need to be added to a report, and in seconds they are added. After you complete a report, Expensify will produce an IRS ready PDF of all your transactions. Anything under $75 will have a receipt created for it, add the uploads of your scanned receipts and you’ll have IRS ready reports.
We recommend
Expensify to every business we work with, not only will it save hours a month, but it also helps keep your books up to date. When your financials are up to date, you’ve got the best information to make decisions about your business.
We use it and I think you’ll love it.
