Expense Management from Expensify

Witold Stankiewicz & David Barrett from Expensify gave a demo of their expense managing web application Expensify. It tries to solve the expense management and re-reimbursement problem by making it as smooth as possible for a business traveler. The service lets you use separate card’s (called Expensify Pre-paid Master cards) but both tied to one Master Card for final billing purposes. This means that you can have one Expensify Card for Perosnal expenses and another Expensify Card for Work expenses tied to just one Mastercard. It helps to track the expenses on the same card separately for each purpose.

The service allows you to pull records from your existing Credit Cards to your Expensify Account to aid you in creating an expense report. You can also take a picture of the paper receipt and email it to expensify, or just forward your online receipt(for larger purchases like Hotel, Air Ticket) to the account. They also mentioned about the ability to do the same with the help of an iPhone application, that will take a picture and send it to your account with just a click. These receipts are linked to your Bill, and you can also add further comments in the report before emailing it to your manager for Approval.

David also mentioned about the generation of e-receipts in lieu of paper receipts, that will considered legal by the IRS. So, you could just throw away those paper receipts and just get an e-receipt for the same for tax purposes.

Expensify will be offered Free to the user to gain traction and create a loyal user base. They are also developing some preimum features that will require a fee. It’s currently in Beta.

Update:  David is looking for a UI Design Engineer to make the site even more pretty.