Expense management is quite a tedious task and especially when it comes to the manual keeping of the track of all the expenses incurred. Though we try our best, some or the other time, we miss certain things to list out and it’s quite hard to remember.
For aiding us with this issue, there are certain applications available that does our entire expense management effectively and prepare descriptive and complete reports of the expenses. Though there are many applications, here we are comparing the two well-known applications and their features. Look at it –
‘Expensify’ is one of the most popular expense management tools. It furnishes with the management of reports for an expense and fosters certain expense rules, which grants the user to furnish automatic allotment that is framed on the vendor name of expense.
This application manages all your cumbersome task. All you need to do is snap a picture of your receipt and ‘Expensify’ will manage the rest. With this application, you can also send the reports pertaining to business expenses in the upcoming month or the expenses that have been already done to get the reimbursement online in just a single click. It also easily detects the duplicate expense report. It manages your monthly account very effectively. The monthly payment for this application to access more advanced features starts from $5.
- It imports the transactions whether it is pertaining to a business card or personal by ‘importing credit cards’.
- One can frame the approval workflows.
- It helps to automatically log the mileage with the aid of GPS.
- Through ‘receipt integration’ one can associate the app with apps like Uber etc to import the receipt automatically.
- It aids for ‘multilevel coding’ along with granting the delegated access so as to allow your colleagues for framing the reports as well as on behalf of you they can also submit them.
- It provides for SAML SSO, according to which an employee has one-click access to its ‘Expensify’. Here the employee is not required to input its credentials like passwords etc instead it takes digital cryptocurrency as well as digital signatures.
‘Shoeboxed’ is an expense management application that provides digitization service of the data. It creates the expense reports based on the receipts; may it be any currency and mileage and is helpful during tax filing. This application is award-winning and is featured in big publications. It links with your other purchase or travel application and imports the receipts of expenses automatically. It performs its task so accurately and precisely that the data does not require human verification. The monthly payment for more advanced features starts from $9.95.
- It caters for preparation of the digitized tax report.
- Shoeboxed provides an easy way to archive receipts in that of a secure location.
- It fosters quick receipt search and store scanned receipts.
- The user can archive receipts from its Gmail to the ‘Shoeboxed’ so that receipts do not get lost into inbox full of emails, instead, it will be secure in the ‘Shoeboxed’ for future reference.
- It performs hassle-free tracking of the receipts and within seconds, it creates and sends expense reports via email.
The Bottom Line
In the article, we tried to cover the whole article about Expensify and Shoeboxed. We hope that the information must be useful to you and you ought to make a good choice. But Expensify provides for more features as compared to ‘Shoeboxed’ and is leading. Hence, if you find trouble in managing your expenses or forget to keep up entries, handover your trouble to these expense manager apps and stay sorted.
It’s Me, Alan! I’m just 20 & studying computer science at Trinity University. Besides music & traveling, writing on technology, Emulators, Games, & emerging tech advancements is my favorite work to do.