Question

Expense processing - what tools do you love ❤️ (and which should we avoid)?

  • 26 May 2023
  • 8 replies
  • 74 views

Userlevel 7
Badge +12

We currently use Dext and have been for quite some time but we’re becoming more and more frustrated by the simple things it can’t do and lack of product development. Thought I’d crowd-source from the community what other options are out there!

We’ve used HubDoc previously, and unfortunately there are many frustrating limitations with that as well (and also lack of product development) so that’s off the table for us as an option.

A couple of others I’ve come across and will look at testing are Veryfi and AutoEntry by Sage. We’ve also been told the QBO receipt capture tool is being improved. I don’t believe it’s near what we would need at this stage, but if you currently use it I’d love to hear from you too!


8 replies

Userlevel 7
Badge +19

What functions do you require?

I use QBO receipts for one client.

  • It works but any kind of AI/Machine learning/Algorithms do not work at all.
  • The photos come in and each need to be manually entered in almost all cases because we have line-item categorization for the incoming receipts.
  • Only activated email addresses tied to paid users can forward receipts to the system.
  • We got around this with some automated forwarding, but it’s a pain.
  • It picks up email signature photos and throws an error about reading the document (makes you double-check each time to make sure it didn’t miss an actual invoice/receipt)
  • If there’s no document, QBO will turn the email into a PDF (cool!), but the email isn’t visible when there’s a photo or PDF attached (boo!)

I saw a demonstration for bill.com that alleviated most of my complaints above (except bill.com does not turn the email into a PDF if there’s no attachment…) Also, bill.com seems to be much more expensive per client.

Userlevel 7
Badge +12

Thanks @max - do you use any other tools for your other clients? I know your firm is more tax oriented though!

Some specific features we need/want:

  • Ability to create rules for suppliers to auto code - GL account, due date, currency, tax treatment, payment method etc.
    • Dext has this, but you have to manually create for each supplier. You can import rules, but those rules then get erased next time it syncs to QBO/Xero.
  • Multiple users with different permission levels
    • Dext is pretty ok here
  • Expense report creation and approvals
    • This is where we’ve discovered the most issues with Dext recently, as they have very limited controls, for example, additional expenses can be added to an approved report before publishing with nothing in the audit history; you can’t set up specific approvers for specific employees - each employee chooses who will approve each time; a submitted expense report can’t be rejected or redirected to an alternate approver
    • We have some clients using Expensify as they need the more robust internal controls, but we ideally want to limit the number of unique apps
  • Integration with QBO/Xero
  • Source documents attached to transactions

I wasn’t aware bill.com had expense management features, but AFAIK it can’t be used for payments in Canada so that basically rules it out unfortunately! 

 

Userlevel 7
Badge +19

That’s too bad, because I think bill.com might hit your targets, lol. I’ve never used it, but it is something we are considering exploring next year.

We do have one client that used expensify. I don’t have any information on it though.

@Steven Beppel Jr., do you have any info you could share with @Rebecca Williams about expensify in relation to her requirements:

Some specific features we need/want:

  • Ability to create rules for suppliers to auto code - GL account, due date, currency, tax treatment, payment method etc.
    • Dext has this, but you have to manually create for each supplier. You can import rules, but those rules then get erased next time it syncs to QBO/Xero.
  • Multiple users with different permission levels
    • Dext is pretty ok here
  • Expense report creation and approvals
    • This is where we’ve discovered the most issues with Dext recently, as they have very limited controls, for example, additional expenses can be added to an approved report before publishing with nothing in the audit history; you can’t set up specific approvers for specific employees - each employee chooses who will approve each time; a submitted expense report can’t be rejected or redirected to an alternate approver
    • We have some clients using Expensify as they need the more robust internal controls, but we ideally want to limit the number of unique apps
  • Integration with QBO/Xero
  • Source documents attached to transactions

 

Thanks @max - do you use any other tools for your other clients? I know your firm is more tax oriented though!

Some specific features we need/want:

  • Ability to create rules for suppliers to auto code - GL account, due date, currency, tax treatment, payment method etc.
    • Dext has this, but you have to manually create for each supplier. You can import rules, but those rules then get erased next time it syncs to QBO/Xero.
  • Multiple users with different permission levels
    • Dext is pretty ok here
  • Expense report creation and approvals
    • This is where we’ve discovered the most issues with Dext recently, as they have very limited controls, for example, additional expenses can be added to an approved report before publishing with nothing in the audit history; you can’t set up specific approvers for specific employees - each employee chooses who will approve each time; a submitted expense report can’t be rejected or redirected to an alternate approver
    • We have some clients using Expensify as they need the more robust internal controls, but we ideally want to limit the number of unique apps
  • Integration with QBO/Xero
  • Source documents attached to transactions

I wasn’t aware bill.com had expense management features, but AFAIK it can’t be used for payments in Canada so that basically rules it out unfortunately! 

 

Hey @Rebecca Williams, To follow up on Max’s mention of Expensify. We have used Expensify for a couple years now for one client. However, they primarily use it as a way to manage business credit cards for employees, meaning my experience with it has been limited strictly to employee expense tracking. That being said, it handles the last four items you are looking for well. I’ll rate each item from my own personal experience. 

  • Multiple users with different permission levels - 3/5
  • Expense report creation and approvals - 5/5
  • Integration with QBO/Xero - 3/5
  • Source documents attached to transactions - 5/5

There is some greater functionality available in expensify such as reimbursement and time tracking for mileage reimbursement and things like that, which I have not fully explored. But unfortunately, I do not believe it has the total functionality you would be looking for especially for dealing with suppliers. 

Userlevel 7
Badge +12

Thanks for the details @max @Steven Beppel Jr. - as I mentioned, we do use Expensify already, but only for clients with complex expense report processes. It looks like it doesn’t really have capabilities for handling paid transactions, or even bills which will be paid outside of Expensify, so that’s not really an option either.

If you know anything about AutoEntry by Sage or Veryfi I’d love to hear it!

Userlevel 3
Badge +3

@Rebecca Williams Just one tangential, but Canada-specific thought...Have you evaluated Float (Floatcard.com)? It might not be the expense processing system you need, but perhaps it would help a client or two with the expense report/spend management process…

We use Float for our firm, but not with any clients (yet).

Userlevel 7
Badge +12

@Jonathan Gibson thanks for the reminder - I believe I actually might have Float in my list of tech to check out!

 

How do you like it? What does it do well/what are some limitations?

Userlevel 3
Badge +3

@Jonathan Gibson thanks for the reminder - I believe I actually might have Float in my list of tech to check out!

 

How do you like it? What does it do well/what are some limitations?

I’m only a user, not the admin of our Float account, so I can’t speak to all of the steps to administer it (or the related challenges). We like it because it syncs with QBO, requires receipts from users for expense processing, and can improve internal controls from various angles (limiting vendor spend, or internal employee spend without pre-approval on case-by-case basis, etc.).

It has been easy to use for our team, but it is important to note that it essentially functions like a prepaid debit card system (so cash flow is impacted).

Reply