FieldLens Favorite Apps: Expensify

The FieldLens team is busier and busier as we get closer to launch (stay tuned…), and no matter how much we desperately pray for the day to magically sprout a few extra hours, it doesn’t happen. Thankfully there are mobile apps out there to help us maximize our time by making certain tasks easier than they’ve ever been before. Last month we featured Dropbox as our FieldLens favorite app because it is a tool that effectively allows our team to easily share materials.

This month our favorite app is one that saves time and brainpower – Expensify!

One reason we love Expensify is because their mission is somewhat similar to ours – to take a system that causes massive amounts of frustration, and use mobile technology to make it better. In their case – expense reports. In our case – construction industry communication and collaboration. They reduce the time, headache and paper once required for expense reports. We reduce the time, headache and paper once required for construction jobsite collaboration.

Expensify will forever change the way you think about expense reports. Quite frankly, Expensify won us with their motto – ‘Expense reports that don’t suck!’ And the great thing is – doing expense reports with Expensify really doesn’t suck! Expensify is primarily for businesses, although it can also be used on an individual level.

Here’s how it works

Users can import expenses and receipts from their smartphones, banks and credit cards, as well as many international banks. Expensify has a scanning function that will read receipts and automatically create reports for them, or match them to expenses imported from a credit card. You can then create and submit an expense report online or from your smartphone, and you will be reimbursed directly to your checking account.  Expensify also integrates with accounting packages like QuickBooks and Oracle, along with Evernote, Bill.com, Freshbooks, SalesForce and Financial Force and allows you to export a CSV file.

It has some other very cool features too – you can log billable hours and use your smartphone’s GPS to track exact mileage for business-related travel. That’s definitely helpful for construction professionals required to travel from job to job.

Our favorite feature is “Guaranteed eReceipts,” which generates tamperproof and traceable electronic documentation of most credit-card and bank transactions under $75, once you link your accounts on Expensify’s website. This is an important feature and a huge time saver if you’re unlucky enough to undergo an IRS audit, as all spending over $75 must be accounted for. Expensify will also match paper receipts with their corresponding credit-card charge to make it easier to reconcile accounts.

How construction professionals can use Expensify

Expensify can help everyone on your project team keep track of receipts that need to be accounted for, such as orders for new equipment, business dinners, gas receipts, and any travel/personal expenses. Accounting isn’t the reason anyone enters the construction industry, so it’s great to have a tool that makes it easier and more efficient.

We find Expensify to be simple to use and it’s a big help to our team. We had to share it with you – our construction community – because being in the mobile app development world, we’re always coming across tools that claim to make this or that more efficient, and it’s difficult to weed out what might actually be useful to you. We know how busy construction folks are, and we know you don’t have the time to try out many new tech tools, but we’re happy to do the work for you.

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