What Expensify Is, And How It Integrates With Xero

Expensify + Xero

That comes with everything in Submit, but also features the capacity to auto-sync to accounting software along with boasting powerful reconciliation functionality. Expensify is a desktop and app service that aims to help business owners and employees manage their expenses using real-time money monitoring. It’s a dynamic approach that works brilliantly for small and medium-sized businesses. However, Expensify has also been designed to let larger businesses keep an eye on employee expenditure too, but in a reassuringly straightforward fashion. Need accounting software to match your expense management plan? Hop over to our piece on the year’s best accounting software for small businesses. To use Expensify, sign up for a plan, then download the Expensify app to scan any and all receipts that come your way.

Expensify + Xero

For faster travel expense reimbursement, Expensify will automatically import receipts from Uber and Lyft. A SmartScan is what Expensify calls its optical character recognition 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 accounting to Expensify for easy categorization (which, for billing purposes, still counts as a SmartScan even though you’re not scanning anything). The next time that your Expensify policy syncs with Xero, we’ll automatically create a Liability Account on your Xero Dashboard, and a Clearing Account in your General Ledger. Every day, we’ll update each of those accounts based on the previous day’s activity.

Easy Expenses Meet Beautiful Accounting

This can affect which services appear on our site and where we rank them. Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. For more information, please see ourPrivacy Policy Page. 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. There aren’t too many flies in the Expensify ointment, but some are still worth noting.

  • Expensify can even submit and reimburse your reports automatically, so expense reports really are finished with just one click.
  • Once an expense report is approved, you can send an ACH through Expensify or “mark it manually”.
  • There are no other cloud accounting solutions available for those who wish to user Xero Expenses.
  • Now, if you are reading this document, we’ll assume that you already have an Expensify account and are looking to sync it with your Xero Accounting software.
  • Freelancers and self-employed business owners can also use Expensify for expense categorization and tax tracking.

Use the Expensify app’s built-in GPS mileage tracker to keep track of deductible mileage or reimbursable travel. And speaking of reimbursements, you can use Expensify to automate expense reimbursement as soon as the next day. Earlier this year, we decided to tie the knot between Xero’s beautiful accounting software and Expensify. Xero’s cloud accounting software Expensify + Xero provides business owners with real-time visibility of their financial position in a simple, smart and secure way. With Expensify you can quickly add cash expenses, automatically import all card transactions, capture mileage, time and other reimbursable/billable expenses. You can also code expenses to GL accounts, clients/projects, and custom fields.

Using Other Or No Accounting Software

Although Xero reviews each app in our App Marketplace, we can’t give any guarantees. It’s up to you to assess the performance, quality and suitability of any app before going ahead.

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. 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. Does a great job of simplying the process of expense reports for both employees as well as employers. Makes it quite simple to rebill expenses to the end client once an employee has been reinbursed. Auto reconciliation is another powerful aspect of it as well.

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We are in the midst of adding foreign tax support to Xero and would love feedback. Feel free to send suggestions relating to tax support between Xero and Expensify to After all this, I am not sure there is any benefit of using Expensify. I do like the app and receipt scanning and being able to forward invoices via email that ends up right in my account. But it seems like the time saving I get from that may be outweighed by the extra cleaning up I need to do once I export to Xero anyway. Sign in any time, anywhere from any device and take advantage of daily bank feeds, invoicing, billing, reporting and more. Learn how Aprio Cloud uses Expensify’s Xero integration to make their clients’ expense reporting process easier than ever.

Expensify + Xero

This is suited to individuals and sole proprietors for tracking receipts and expenses. You get unlimited SmartScans (OCR’d receipts), automatic mileage tracking and can auto-categorize expenses. Central to this is the way that Expensify can automate much of the process, which means less work keeping an eye on things and better results in terms of tracking and processing expense claims.

Expensify can even submit and reimburse your reports automatically, so expense reports really are finished with just one click. This minimizes paper use by storing your digital copy for as long as you need it. Xero HQ is a one-stop hub for Xero accountants and bookkeepers to manage all their clients’ needs in one place. When combined with Expensify, accountants experience even more efficiency as it automates the receipt tracking and expense management process, giving you more time to provide superior service to clients.

We may receive a commission when you click on links for products from our affiliate partners. Tallie works with Xero to lead the evolution of the accounting industry with its automated, user-friendly and accountant approved income summary business software. Expensify syncs directly with Xero, allowing for headache-free expense reports. Once expense reports are created and submitted/approved, they can easily be pushed to Xero by clicking “Export to Xero”.

The combination of Xero HQ and Expensify automates the back-end work for accountants and bookkeepers, allowing more time to provide superior client services. Outstanding tasks, such as expense reports awaiting approval, will appear in the Xero HQ dashboard and can be resolved in just one click. By scanning receipts and logging all your transactions for you , you save time that can otherwise be spent on your actual job. The app provides a dashboard that makes it easy to review your work expenses and go over them should you need to with your manager.

Connect Expensify + Xero In Minutes

Once you connect Bill.com to Expensify, export expense report PDFs to Bill.com for payment. For any other accounting software, the expense report PDF will be exported to your Bill.com Inbox so it can be processed as a bill, then paid.

All tracking categories made in Expensify are seamlessly reflected in Xero or QuickBooks. Fortunately an accountant will help during these times. Many people believe they are limited to doing the books and preparing tax returns, but an accountant can help you with so much more.

Have a question on setting up an Expensify feature or need advise on a best practice? Send your question to Expensify’s Concierge in-app chat and get an immediate response from our friendly and supportive customer success team. Your bank statements are automatically imported and categorized, letting you see your cashflow in real-time. Strengthen your internal controls with robust approval controls and immediate policy alerts. Secure, accurate sync from Tallie to Xero and comprehensive customer support.

Next, Submit for Individuals, which is $4.99/£3.99 per month and is aimed at employees and small business owners to send receipts to managers or accountants. You get everything in Track as well as being able to auto-submit reports for reimbursement and also submit receipts to anyone.

Give Tallie a test-drive and calculate the benefits to your company. Tallie is the only automated expense report software to offer immediate bi-directional integrations with major accounting systems. Managing expense reports and reimbursements can be time consuming and difficult for most small businesses. Whether managing expense reports via spreadsheets or loose receipts/notebooks,Expensify provides a solution that improves efficiency and eliminates the tediousness of expense reports. Citigroup has launched a new “marketplace” for third-party fintech companies, now offering Citi clients a secure way to share their account details with other financial apps and services. Marketplace apps include BillGo, eMoney, and Expensify, which allow customers to pay bills, manage business expenses, plan their finances, and more. We also like Expensify’s integration with the most popular accounting and bookkeeping software—it syncs with everything from QuickBooks Online to Microsoft Dynamics.

Contrasting Xero Expenses, Expensify does not have as large a variety of support tools available to their users. While Expensify hosts online message boards where users can help each other with their issues, there is a lack of Expensify curated knowledge articles. Expensify connects easily to Xero and QuickBooks accounting software, saving you hours of data entry and expense coding. Once you decide how recurring expenses should be coded, they will continue to be coded on autopilot. Data syncs automatically and continuously so your books are always in real-time. Sync apps like Lyft and Uber to automatically import receipts into Expensify.

We love how easy it is to automatically pull in expenses from credit cards and save receipts, though, and would like to continue doing that. I’m just trying to find a way to tie this in with a system where we can also track our income and do some budgeting and forecasting, which is why I’m investigating using it with Xero.

For a free no-risk trial, check out Expensify for Xero today! You now need to check if the connection is showing in Xero. Log back into your account and go to the settings menu, under which you can find the ‘Connected Apps’ option. Clicking this will open a page showing all of the apps connected to Xero. Congratulations, you have now integrated Expensify into Xero. Clicking the ‘Create a New Xero Connection’ link will open the Xero Login Page where you will need to log in. Once logged in, Expensify will automatically connect to Xero and will then open the sync options.

Expensify’s receipt-scanning and expense-tracking software automates expense management for all types of businesses, from small to large. As a Xero designed application, unfortunately Xero Expenses can only integrate with Xero. There are no other cloud accounting solutions available for those who wish to user Xero Expenses. Scan receipts, track business and personal expenses, and book travel all in one app. Download Expensify today and join millions of people worldwide managing their spend stress-free. Please select the bank account in Xero that your Expensify Card payments should be reconciled against.

Author: Mark J. Kohler

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