This is the same method as how for-profit companies would categorize their expenses (e.g. meals and entertainment, supplies, travel). Importantly, to prepare the Statement of Functional Expenses you have to provide both the functional and natural categories for all of your expenses. However, the cost may vary depending on the amount spent by the company on the card. If you don’t bundle with the Expensify Card, the starting Everything You Should Know about Accounting Services for Nonprofit Organizations price is $10 per user per month for the Collect plan and $18 per user per month for the Control plan. You may find Expensify and the alternatives listed here were not enough. Expensify can integrate with different software to combine related tasks.
Why Concur?
With free cards for employees and no fees, there’s a lot to like about using the Expensify credit card. Ramp’s procurement features offer a centralized platform for collaboration and the creation of custom intake forms that adapt to user responses. Users can track vendor details, receive contract renewal reminders, and personalize data tracking with custom fields. Seat Intelligence connects to Okta to monitor software usage trends, while Price Intelligence analyzes past transactions to provide pricing benchmarks. Ramp AI extracts invoice details, suggests coding and accounting rules, and identifies duplicate invoices. The system matches invoices to POs while routing expenses to approvers based on the defined conditions.
- If you want to test Expensify before you purchase a subscription, you can sign up for a free three-month trial.
- Expensify offers a trial period for new users to explore its features and determine if it’s the right fit for their business.
- When you standardize and configure travel policies through Expensify, you’re going beyond creating rules.
- The key to efficient travel management lies in streamlined approval processes.
- When selecting a platform, consider both functionality and long-term financial impact.
- All these features work great for a larger, more sophisticated customer, to dial in the exact right price for any given configuration.
- Administrators reviewing and approving these reports can always update the selected functional and natural expense categories if they see a selection made in error.
💳 Expensify Card Access
The cancellation process is straightforward, and you won’t be charged for subsequent billing cycles once you cancel. This flexibility allows businesses to evaluate Expensify without long-term commitments, ensuring that they can make informed decisions based on their evolving needs. You may be able to use Expensify for free, or you may pay a monthly fee for each user. Expensify’s pricing is determined by your plan, number of users, and whether or not you also use Expensify’s corporate card.
FAQs about Expensify vs. Concur
Popular ERP software offered include Microsoft Dynamics, Sage Intacct, Oracle Netsuite or Netsuite if you prefer the other model. If your first workspace was created before April https://nyweekly.com/business/accounting-services-for-nonprofits-benefits-and-how-to-choose-the-right-provider/ 1, 2025, your billing follows our previous pricing structure. If you need help understanding your charges, reach out to Concierge or your Account Manager via chat.
Shoeboxed is a little different than the other products on this list. Instead of being a full expense management tool, it is a bit more like a receipt and expense report archive that can export to your accounting system. If that’s not a problem for you, this might be a great alternative to Expensify. Check the interest rates on the Business line of credit Divvy offers or be prepared to pay this off monthly.
- Thanks to Expensify, their expense reporting process went from 3-4 days to 2-3 hours.
- WealthEngine helps your nonprofit identify and manage wealth indicator information about your prospects.
- Choose the NetSuite payable account to which transactions from this card will be exported.
- Now that we have been introduced to the concept of functional and natural expenses, let’s consider how we can use Expensify to help with coding these expenses accurately.
- Expensify provides a range of price options to meet the demands of various types of businesses.