Expensify- For Expense Reports and to Keep Track of Your Receipts!

Expensify – An Expense Report App That can Track Your Receipts!

The IRS requires you to keep track of all your business expenses. One of the best ways to do that is to keep all your receipts. And it can also help you manage employees expenses and your own personal reimbursements. Expensify is great because every time you have a meal, purchase something on business or personal credit card, you just open the app and take a picture of the receipt. The expense report app will automatically read the receipt, identify the merchant, amount, date, time of purchase, and you can add personal notes like who you had lunch with.

The expense report app will create it all in a monthly report automatically for you. This can simplify employee expense policies and keep track of receipts. You can invite your whole team to it and saves you time and money and we strongly recommend this.

If you are a solo entrepreneur you may use your business debit card for all your expenses and identify them later as personal and business. First, only use the business account for your business expenses. Don’t mix your personal account the two. But if you do have a business credit card, just take a picture and store data in the Expensify app and save the monthly report. If you have a business with employees, and they make purchases for the business out of pocket, they can create an expense report and send it to you for reimbursement. All of this can be done in the app. So no manual scanning and copy, no files full of receipts. It’s all in one easy place. So when it comes to doing taxes you have all your receipts neat and organized.

Looking to start a business or grow your current business? Contact FL Patel Law today by visiting our website or calling 727-279-5037.