Expensify Review 2021

Expensify’s receipt-scanning and expense-tracking software automates expense management for all types of businesses, from small to large.
Best Overall
Expensify
4.7 out of 5 stars
4.7
  • Check
    Automatic mileage tracking for travel expenses
  • Check
    Corporate card management and reconciliation
  • Check
    Free mobile app for receipt scanning and expense management
  • X
    Minor customer complaints of app crashes and glitches

Expensify’s expense management software eliminates the tedious task of manual data entry for business owners who want to track expenses without sacrificing valuable time. Its affordability and comprehensive features set Expensify apart as the best expense management option out there—and its free plan helps even the smallest of small businesses stay on track to financial success.

Expensify plans and pricing 2021

Plan name
Starting price
Features
Learn more

Track (for individuals)

$4.99/mo.

Unlimited SmartScans (digital receipt scans) + mileage tracking and expense categorization

Submit (for individuals)

$4.99/mo.

Track features + automatic reimbursement reports and receipt submission

Collect (for groups)

$5.00/user/mo.

Submit features + accounting software export and automatic bank reconciliation

Control (for groups)

$9.00/user/mo.

Collect features + corporate card reconciliation

Data effective 11/24/20. At publishing time, pricing is current but subject to change. Offers may not be available in all areas.

Bullhorn
Expensify's free plan

Need to scan only 25 receipts a month? You can use Track or Submit for free.

Expensify is best for midsize and large businesses

Expensify is perfect for bigger businesses—we’ll get into the why in a bit—but it’s a good fit for the smallest of small businesses too. Since you can use Expensify free for up to 25 SmartScans a month, it’s perfect for businesses with a handful of employees who don’t submit loads of expenses. And freelancers or solopreneurs who want easy expense reporting for an even easier tax season can benefit from Expensify too.

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What is a SmartScan?

A SmartScan is what Expensify calls its optical character recognition (OCR) technology. When you scan a receipt, the Expensify app reads the amount paid, the transaction date, and the merchant and categorizes the expense accordingly. If you don’t have a paper receipt, you can forward emailed receipts to Expensify for easy categorization (which, for billing purposes, still counts as a SmartScan even though you're not scanning anything).

But Expensify’s expense management software was tailor-made for large businesses that juggle dozens (or more) of expenses a month. Its two plans for groups, Collect and Control, include these key features:

  • Unlimited receipt scanning
  • Automatic mileage tracking
  • Automatic expense categorization
  • Expense report generation
  • Automatic report submission for employee reimbursement
  • Accounting software integration (QuickBooks Desktop, QuickBooks Online, and Xero)
  • HR software integration (TSheets, Gusto, and Zenefits)

Expensify’s group plans also include the Expensify Card, a free corporate card that automatically creates expense entries with each card swipe. The Control plan goes a step further and adds in corporate card reconciliation for any corporate card, not just Expensify’s.

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The group plans also include a six-week free trial and two payment options: a monthly subscription, which costs $5 per monthly user for the Collect plan, or pay per use, which starts at $10 per monthly user for the same plan. If you have more than just a few users, we'd recommend the monthly subscription; on the other hand, if just you and one other person use the company card a few times a month, pay per use could work better.

Expensify pros and cons

Pros
Pro Bullet User-friendly app for on-the-go expense recording
Pro Bullet Excellent third-party app integration
Pro Bullet Free plan 25 or fewer receipt scans per month
Cons
Con Bullet Some customer complaints of app crashes and software kinks

Expensify pros

You can’t scan receipts on the go without a heavy-duty app—and Expensify’s free mobile app is up to the task. The scanner automatically notes the merchant and date listed on the receipt and submits the amount for expense reimbursement. It also syncs with credit cards for better expense tracking and bank reconciliation.

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Expensify's app ratings
On the whole, Apple users are highly satisfied with Expensify’s mobile app: 92K iOS users give Expensify 4.7 stars out of 5.1 Unfortunately, on Google Play, the Android app scores just 3.2 stars out of 5 from an average of 15.1K reviews.2 Based on user reviews, the Android app has gotten a lot more complex and difficult to use over the last year, and Google Play customers aren’t happy.

Expensify’s app is included at no additional charge with both its paid plans and free alternative.

We also like Expensify’s integration with the most popular accounting and bookkeeping software—it syncs with everything from QuickBooks Online to Microsoft Dynamics. For faster travel expense reimbursement, Expensify will automatically import receipts from Uber and Lyft.

Expensify cons

There aren’t too many flies in the Expensify ointment, but some are still worth noting. For one, its pay-per-use plans are a little pricey. And on the app stores, some customers note problems with the app crashing or failing to sync properly, especially Android users.

But Expensify’s customer service team reacts almost immediately to bad reviews, reaching out with solutions and contact info. It might be a hollow gesture—we can’t say for sure—but it’s several steps beyond what many software companies do for their customers.

Expensify FAQ

How does Expensify work?

To use Expensify, sign up for a plan, then download the Expensify app to scan any and all receipts that come your way. Once you upload the receipts to your account, the cloud-based software categorizes the expenses, enables next-day employee reimbursement, and tracks taxes.

How much does Expensify cost?

If you need to scan only 25 receipts a month, Expensify is free. If you want unlimited scans, Expensify starts at $4.99 a month for individuals and $5 per user per month for corporate plans.

Can you use Expensify for free?

Yes! If you’re an individual, freelancer, or solopreneur who just wants to scan and catalogue up to 25 receipts a month, you can use Expensify’s Track or Submit plans for free.

What is Expensify for?

Expensify is a receipt-scanning and expense-organizing software program. You can use it to reimburse employees for any expenses they incur for the business, like office supplies or business lunches. Freelancers and self-employed business owners can also use Expensify for expense categorization and tax tracking.

Is Expensify compatible with QuickBooks?

Yes. Expensify’s group plans are compatible with both QuickBooks’ desktop and cloud-based software. Expensify also syncs with Xero, and if you sign up for the Collect plan (Expensify’s most expensive), you can also sync the app with NetSuite, Sage Intacct, Oracle, FinancialForce Accounting, and FinancialForce PSA.

The takeaway

Expensify is a solid, well-rounded expense management program that works nicely for startups, freelancers, and growing companies alike.

Need accounting software to match your expense management plan? Hop over to our piece on the year’s best accounting software for small businesses.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources
1. App Store, “Expensify: Receipts & Expenses.” Accessed November 25, 2020.
2. Google Play, “Expensify – Expense Reports.” Accessed November 25, 2020.

Kylie McQuarrie
Written by
Kylie McQuarrie
Kylie is an accounting writer for Business.org. Kylie spent two of the last four years writing for and with small-business owners—from dentists in Australia to plumbers in the Midwest. She spent the other two writing in depth about internet and security. She’s passionate about reading, hiking, and dedicating every spare second to writing for fun (at lunch, between meetings, on the train, before breakfast . . . ). Her content helps small-business owners tackle the logistics of running a business so they can focus more on their passions too.
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