The spend management platform for small and mid-size teams (customizable virtual cards, budgeting, auto-reconciling, and expense reimbursement).
Our Unfiltered Thoughts
Expensify is one of the original expense management solutions on the market. We actually used Expensify for the first few years in business (more recently switching to Divvy).
It started as a simple invoice/receipt scraping tool that you'd forward your receipts into receipts@expensify.com via email, and it would pull out all of the details, learn from past classifications, and sync that over to your accounting software like QBO or Xero.
They have more recently moved into the virtual credit card experience, realizing that if the charge starts with a virtual credit card, all the categorization is way more consistent and seamless (whereas that's where Divvy, Brex, and Ramp all started).
There is currently no promo code for this app but we are close partners, so if you use the link above to visit the site and then let their team know that Efficient App sent you, you may just get a little something... extra 😉
There is currently no promo code for this app—we'll update it here if that changes in the future!
Accounting software for small and medium teams typically based in the US
Our Unfiltered Thoughts
We find that teams based in the US tend to use QuickBooks Online, and businesses outside of the US tend to lean more toward Xero.
This is important because it means that the features QBO is building is more focused on things like US Sales Tax laws, while Xero may have more accounting features helpful outside of the US especially.
Also, accountants inside of the US are often more proficient with QBO as compared to Xero (although they should be familiar with both).
P.S. We highly recommend QBO over QuickBooks Desktop because of their robust API—you're not going to be integrating QuickBooks Desktop easily with anything.
Expense Management
Rating: D-
Some people have mentioned that QuickBooks Online allows for some expense management features like virtual credit cards, that said, a tool like Bill Spend & Expense (formerly Divvy) does so much more for expense management than simply allowing for a one-off virtual card though. Unlike QBO, a proper expense management tool allows you to go deeper, as it ties in individual and team budgets (across the entire company), all to ensure your company only allocates what they have budgeted for.
Receipt Matching
QBO also does not have proper receipt matching that automatically ties the receipt from your email to the individual transaction.
Credit Card Rewards
QBO does not have credit card rewards with their virtual credit card solution either.
There is currently no promo code for this app but we are close partners, so if you use the link above to visit the site and then let their team know that Efficient App sent you, you may just get a little something... extra 😉
There is currently no promo code for this app—we'll update it here if that changes in the future!
We've been evaluating and integrating software for the past decade. Tell us your needs—we'll give you your stack. Then let us automate the rest. (Teams we work with have reported saving 25–300+ hrs/mo in addition to $90k–$120k per year on operational + administrative salaries).
You will hear from us within 24 hours of applying about next steps! 🚀 (please note only eligible companies will be chosen for the audit.)