Expense Reports: Expensify

Expensify is the software that Fabric Branding uses to keep track of all business related expenses. It’s fairly simple to use, and Expensify has a great online knowledge base to answer any questions you may have.

Once you have your Fabric Branding account set up with Expensify, you’ll be able to do the following things:

  1. Create expenses

  2. Attach receipts

  3. Submit expense reports

 

Creating Expenses

You can create an expense in one of four ways:

  1. Manually enter the expense using the New Expense button
  2. Manually enter an expense using email
  3. Import expenses directly from a credit card
    1. This is not recommended unless you have a card specifically dedicated to business expenses
  4. Using the SmartScan feature
    1. This feature is not recommended unless you are using a PDF receipt that was emailed to you by the merchant. Photos of paper receipts don’t work well with this feature.

 

1 - Manually enter an expense using the New Expense button

To manually enter an expense using the New Expense button, follow the steps below.

  1. Log into Expensify and navigate to the Expenses tab at the top
  2. Click the New Expense button
  3. Fill in all the information you have regarding that particular expense
    1. As a general rule of thumb, one receipt should have one expense that matches it
    2. Make sure that the currency in Expensify and on the receipt match
    3. Use Categories and Tags to ensure the expense is properly noted
    4. Make a note to provide more details on what the expense was (ex. “Lunch with Bob Smith and Simon Pearce re: Branding project for ABC Company")
  4. Upload a receipt on the right-hand side to go with that expense
    1. Receipts can be in any standard image format (JPG, PNG, etc.) or a PDF
      1. For paper receipts, take a photo using your laptop, scanner or smartphone
      2. If a receipt is emailed to you:
        1. Download the email as a PDF file and attach it to the expense
        2. Submit the expense via email
  5. Click Save, and your expense will be added to Expensify.

Please view this screencast for a demonstration on manually adding an expense to Expensify.

 

2 - Manually enter an expense using email

Expensify offers the ability to enter expenses using email. To learn more about this, see this article.  This is great for services like Uber that don’t provide paper receipts.

When using email to submit an expense, you must ensure that the email is being sent from the account that is registered with Expensify (in this case, your Fabric Branding email account), otherwise it will not import properly.

There can also be a slight delay in the upload, so this may not be the best route if you’re on a time crunch.
 

3 - Import Expenses Directly from a Credit Card or Bank Account

Expensify has a feature that allows you to import all transactions from a credit card or bank account, and manually delete any not-applicable charges. When using this feature, Expensify will automatically generate a receipt for all charges under $75. With expenses larger than $75, you will have to manually upload a receipt.

Please Note: Importing your transactions automatically is not recommended if you do not have a Fabric Branding issued credit card for business expenses.

Please view this screencast for a demonstration on manually adding a receipt to an existing expense in Expensify.

Please reference this article to help set up credit card import in Expensify.

 

4 - Automatically Create Expenses Using Smart Scan

Expensify's SmartScan feature allows you to add digital receipts and have expenses automatically created from them. This feature can be very helpful if you're uploading large batches of receipts and don't have time to individually add each one.

With SmartScan, simply email or upload a PDF receipt to Expensify, and their software will do the rest! From the receipt image, Expensify will automatically create an expense or match it to a current one. 

Please Note: SmartScan is not recommended for regular use, as it is not perfect and can result in errors if data is not imported correctly.  When using SmartScan, please take care to ensure that all data was read and filled in correctly so that you can be properly reimbursed for any business expenses.

 

Submitting Expense Reports

When you have finished entering all the expenses for that period, you are then ready to create and submit a report.

To create and submit a report, please follow the steps below:

  1. After logging in, click Reports along the top navigation
  2. Click the green New Report button near the top
  3. Name your report: Last Name, First Name (Month, Year)
    1. Ex. Pearce, Simon (January 2015)
  4. Along the right-hand side, click the + symbol to add expenses to the current report
  5. Select all of the expenses you would like to include on the report
  6. Review the unsaved report for any errors
  7. Click Submit and Close at the top.
  8. Submit your expense report to simon.pearce@fabricbranding.com.