Expensify vs. Shoeboxed: Which Expense Manager is Right for You

Expensify vs. Shoeboxed: Which Expense Manager is Right for You

Whether you are an individual, part of an organization, or a store owner, you incur expenses and need to be accountable. It is easy to forget an entry and difficult to remember where your paycheck went.

Expensify vs. Shoeboxed: Which Expense Manager is Right for You

This seems to be a universal problem as everyone I know is searching for a system to record expenses. Although it’s important to track every expense, it’s equally important to streamline the process. The more complicated it is to record expenses, the likelier you are to avoid it.

Today, we’ll compare two popular expense tracking apps: Expensify and Shoeboxed. Our objective is to determine the best option. Let’s get started.

The contenders are Expensify and Shoeboxed. Let’s see which expense manager is right for you.

Whenever I search for a new tool or app, one of the first things I check is compatibility with different operating systems. People have different preferences, such as Android, iOS, Windows, or browser-based access. This is particularly important when working as part of a team.

Expensify vs. Shoeboxed: Which Expense Manager is Right for You

Both Shoeboxed and Expensify are available on Android and iOS platforms. You can also use them in any browser without issues. This will help you keep your receipts in sync at all times.

2. Pricing Overview

Another important factor to consider, especially if you require a scalable solution, is pricing. With a large number of employees, the entries and expenses can quickly become overwhelming.

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Shoeboxed offers three primary pricing plans. There is a freelancer plan (single user) starting at $15 per month, which allows scanning and storing up to 50 documents per month. For small businesses or young startups, the Classic plan is available at $39 for two users, offering up to 150 documents per month.

Finally, the business plan costs $69 per month and provides 500 documents per month with 3 users. There is also a Team plan starting at $9.95 per user.

Expensify vs. Shoeboxed: Which Expense Manager is Right for You

Expensify offers a simpler approach with limited pricing options. The Individual plan starts at $4.99/month with unlimited receipt scanning. For teams, there is a $10/user plan, and there is a corporate plan starting at $18/user. They also have an enterprise solution, which requires contacting customer support.

Expensify’s free version allows for 10 scans/month, while Shoeboxed’s free account offers 5 docs/month. It’s a good way to try out the service.

3. User Experience

Most of us will be using smartphones to scan expense receipts. I started by reviewing the Shoeboxed app, which is not very user-friendly. The interface is complicated and lacks features and guides. In contrast, Expensify has a clean and intuitive interface, focusing on simplicity and speed.

Expensify vs. Shoeboxed: Which Expense Manager is Right for YouExpensify vs. Shoeboxed: Which Expense Manager is Right for You

I experienced no lags on either app, but I preferred using Expensify over Shoeboxed. The options in Shoeboxed were limited, and there was no way to manage or change currencies.

Some people frequently travel abroad for meetings and such. Expensify can automatically identify and change currencies if location is enabled.

4. Features

The basic functionality remains the same. You scan an expense receipt and the app collects important details like price, items, and quantity to create a digitized version of the receipt synced with your cloud account.

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Both apps have options to arrange receipts by trips, but Expensify offers a reports tab that is convenient. How? Collect all receipts during a business trip, create a report, and submit for approval. Once cleared (direct deposit or PayPal), you will be notified. It’s powerful and easy.

Expensify vs. Shoeboxed: Which Expense Manager is Right for You

Expensify enabled me to categorize my expenses into food, transportation, and lodging. We use credit cards for payment because it is fast, convenient, and cashless. Expensify also lets me import my credit card statement.

Shoeboxed tracks mileage, while Expensify tracks time, which is useful for those who are paid by the hour. Expensify also has a per diem feature that allows users to track their daily allowance.

Expensify vs. Shoeboxed: Which Expense Manager is Right for YouExpensify vs. Shoeboxed: Which Expense Manager is Right for You

Shoeboxed offers a feature that Expensify does not. Simply send in a batch of receipts in an envelope, and Shoeboxed will scan and upload them to your account. This convenient service helps you clear backlogs and catch up quickly.

5. Third-party Integration

Shoeboxed and Expensify both integrate with third-party apps and software, but Expensify leads in this area. They both integrate with accounting software like Quickbooks, Intuit, and Xero, but Expensify also connects with Microsoft, Oracle, SAP, Bill.com, Uber, and other services.

Shoeboxed is falling behind as an expense manager app. Expensify is not only good for freelancers but also for startups, companies, and corporations seeking a scalable enterprise solution. Expensify wins with unlimited receipt scanning, offline support, more third-party integration, and a better user experience. There are other competitors in the industry that I will cover in a later guide.

Going on a trip? Check out the article below for amazing travel expense apps for Android platform.

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