As you near the end of the year, you may be thinking of how to get better organized with your receipts and expenses. When you are an entrepreneur or business owner and always on the go, the last thing you have time for is keeping track of a pile of receipts. One tool that we have found useful in managing this area of business is Expensify. Expensify is an app/software solution that can help take your stack of receipts and turn it into an electronic filing cabinet and even an expense report! It is quick and easy to setup and get started. Once you setup an account online and download the mobile app, you can start tracking receipts immediately. It’s as simple as taking a picture with your smart phone and adding any details you want (or your accountant needs!). Then, you can just throw the receipt away!! No more piles in your wallet, or losing them in your car.
Once it is loaded via the mobile app, the expenses will appear when you log into your account online. Expensify allows you to customize the categories according to how you track expenses (your chart of accounts), add tags for clients or projects, and more. You can also add mileage or time to an entry. Submitting and processing expense reports becomes a fast and smooth process! Some other benefits include: business trip itinerary tracking, importing bank or credit transactions and exporting to financial software like Quickbooks. And the best feature of all? It’s free! Most of the features are at no cost but there are upgrade options for more sophisticated users (approvals, larger companies, etc.). If your New Year’s resolution is to get better organized, you may want to check out Expensify today.