How to use Expensify for small business expense tracking

If you’re self-employed or managing a business with only a few employees, then you’re probably busy with more important work than keeping track of business expenses. It’s easy to let receipts fall through the cracks, whether you should be submitting them for reimbursement or saving them for taxes or in case of an audit. But those $5 coffees add up, and it’s important to track business expenses, especially if you’re running a lean team and every dollar counts. 

Enter Expensify: the best software for small business expense tracking, at a price point that you can afford, no matter the size of your small business. Let’s dive into how Expensify can help businesses with 1-10 employees, ensuring that you can track business expenses without breaking the bank. 

Getting started: setting up your Expensify account

It’s easy to be intimidated by new software, which is why we designed Expensify to be easy enough to use for self-employed entrepreneurs and very small businesses, and robust enough to grow with your company, no matter how big you plan to scale. We promise, getting started is easy: just head to the Expensify website and follow the intuitive setup process. All you need is an email address or a phone number to sign up for free.

Download the app

Head to the app store, search “Expensify”, and click download. If you plan to track receipts on-the-go, having the app on your phone is the easiest way to do so.

SmartScan: receipts, automated

Say goodbye to manual receipt tracking Expensify's SmartScan technology allows you to snap photos of receipts using your smartphone. The app then extracts relevant information, such as vendor, date, and amount, thereby automating the expense entry process. The app also saves the photo of the receipt, which is IRS-compliant in case of an audit.

SmartScan is optimized for accuracy over speed, so don’t worry if it seems like the receipt scanning is taking longer than a few minutes. You can close the app ,put your phone away, and the app can take care of the rest automatically.

Emailed receipts? No problem, just forward the receipt from the email address you use to log into Expensify to receipts@expensify.com, and it will be SmartScanned.

Creating expense reports

Compile your expenses effortlessly into professional-looking reports. Group expenses by trip, date, project, or any custom criteria you need.

Set up approval workflows

If you have one or more employees, you can set up an approval workflow, so you can review their expenses to approve and reimburse them.

Integrate with any accounting software

Expensify seamlessly offers integrated accounting software like QuickBooks and Xero. Sync your expenses with your accounting system effortlessly, reducing the risk of errors and ensuring your financial records are always up-to-date.

Consider a corporate card

If you already have a company credit card, you can import the transactions directly into Expensify, ensuring that you keep track of every expense, even if you miss a receipt.

Don’t have a corporate card yet? No problem! The Expensify Card was made for small businesses who want the ease of a corporate card without an arduous signup process. 

You can also use Expensify without a corporate card, whatever you prefer.

Simplify, streamline, and succeed with Expensify

For very small businesses with 1-10 employees, Expensify is more than just an expense management platform—it's a partner in financial efficiency. By embracing the user-friendly interface and powerful features, you can navigate the complexities of expense management with ease. 

Save time without spending too much money

Expensify offers a free plan, as well as paid plans starting at $5/month. Check out the scalable pricing plans to see what’s best for your business.