When a business owner begins a new startup, they often use the most effective management system tool. Each tool possesses distinct features for managing business systems. Their features are more advanced which is good for both small and large organizations. For managing your business finances, you may select the QuickBooks tool if you are looking to handle your business system then select Expensify tool. The Expensify integration with QuickBooks further improves your business management. Now, we will discuss these two tools more closely.
What is Expensify?
Expensify is commonly utilized by startups and individuals alike for business purposes and monitor expenses. It helps to manage functions like business management systems and financial accounting. Expensify is a financial management tool that assists in overseeing all expenses, such as capturing receipts, tracking finances, and submitting reports. The most important thing about Expensify is, it allows multi connections of several businesses or insurance policies. Each policy can use the current connections.
What is QuickBooks Online?
QuickBooks Online is cloud-based accounting software, and it is specially designed to manage finance easily. Also, it manages the invoices, pays bills, tracks the inventory and expenses as well. It integrates with multiple third-party apps. These apps enable covering relationship management from payroll and HR (Human Resources), such as employee management and e-commerce. QuickBooks Online lets users get their cash data from any place, any time.
Key Benefits of Expensify integration with QuickBooks
With the integrate Expensify with QuickBooks, you can receive the receipt scanning and reporting. This integration gives you extra benefits like real-time data syncing and lower manual entry.
- Automated Manual Entry: From Expensify to QuickBooks eliminates manual data entry by automating the flow of information.
- Reduces Manual Sync: This data is directly linked with QuickBooks, so you don’t need to risk human errors. You can decrease the manual entry.
- Bidirectional Sync: Data flows in real-time between the two platforms, and confirms that finance information is always up-to-date in both tools.
- Streamlined Expense API: With the help of this integration, boost your multi-level workflows. It assists the manager in seeing and approving the financial reports within the system.
- Mobile Accessibility: The integration should be fully mobile-friendly, so that anybody doesn’t need a computer. Provide access to users who can easily use features.
- Enhanced Compliance: This integration guarantee helps to comply with custom business logic and gives support during financial audits. With detailed audit trails and automated documentation of finance workflows.
Advantages of Expensify Integration with QuickBooks
Due to the Expensify integration with QuickBooks, you can take more advantages for your organization.
Customization and Work Processes
Expensify gives freedom to businesses and organizations to create rules for their needs. For automated procedures, they can design the workflows and even offer spending data on workers.
Expense Control
To control your expenses, you have to work smartly. You can take a picture of a receipt to automate online expense reporting. The next day, sync your payment with the help of accounting software.
Card Expensify
If you have to choose a better credit card, then you can submit your expenses more easily and quickly. From which you can make it easy to card reconciliation and expenses. One more thing, you can receive 4% of all Expensify card purchases back.
Automate Bill Payments
But the Smartscan, your bill payments are automatically collected, which helps to quickly research and process them in Expensify. With the help of this tool, you can monitor what has been due, what has been paid, and last due in one location. It keeps your financial records and saves you time.
Travel Management
With Expensify travel management’s medical advice, you can save your team. This Card gives you a virtual travel advisor. It helps to examine all the details which are related to your flight, like rebooking your flight, missing your flight, and cancelling your flight.
How Does Expensify and QuickBooks Work?
Automatically syncs finance and data, including receipts and reports the process of Expensify integration with QuickBooks. After you make the strategy, break down automation to manage all the work. Now, we will explain to you some ways in which Expensify integration with QuickBooks work smoothly.
- Real-Time Synchronization: With the help of data flow between QB (QuickBooks) and Expensify. All businesses can receive information, from new accounts of QuickBooks to expense reports in Expensify in real time.
- Leading-edge Security: To secure your data, Expencify gives you the best opportunity in PCI and SOC1. It protects all sizes of businesses and your sensitive data with bank-level security.
- Preferred Codability: Whenever any data is exported from Expensify that time organizations can manage certain information like classes, clients or job, location, spending and other elements in QuickBooks.
- Complete Support for Business Cards: Get the information by centrally managing your team and gaining real-time visibility into the company. If you have to choose a better credit card, then you can submit your expenses more easily and quickly.
- Next-day, Prompt ACH Reimbursement: After approving their reports, employees receive their money back the next day. Including repayments is synced automatically.
Steps of Expensify QuickBooks Integration
If you already have an account with Expensify and you want to link your QuickBooks account, then we are here to guide you step-by-step.
- Log in to your Expensify account with all your details.
- Then decide if your pricing technique is a “collector” pricing strategy or not.
- After accessing settings, click on the selection tab and choose your company name.
- When you see the message on your screen like “Connect to QuickBooks,” that means whenever you click on the link, your QuickBooks page will open.
- After that, all the process expensify ask you for your account to connect with QuickBooks? If yes, then the sync tab is displayed automatically.
- If the connection process is complete, then click on the save tab.
- Lastly, check whether QuickBooks sees the link. Choose the overview tab you can return to the QuickBooks site. If this app links, then QuickBooks is displayed here. You want to uninstall the program, then you need to reach Expensify and click the disconnect button.
Conclusion
In this blog, we told you why Expensify integration with QuickBooks is necessary for any business. What are its benefits and advantages and also explained how to integrate Expensify with QuickBooks step by step. If you want to know more about this topic, then you can read it deeply. I hope this will help you a lot.