Expensify seems intent on branding itself as a one-stop shop for reporting the costs of doing business, rolling out invoicing and billing features to go with their expense report service.
On Tuesday, the San Francisco-based startup announced it would be giving users the chance to upload their receipts into Expensify and then create invoices and billing directly through the Expensify site. That gets rid of the extra step of creating the expense report, and then having to export it to another piece of accounting software to create an invoice.
Expensify’s new invoicing and billing services are part of a move to compete with other cloud accounting services like FreshBooks and QuickBooks. They are free for a 30-day trial, and after that will cost $15 per month.
“Basically, we’ve concluded that an expense report, invoice, and bill are really all the same thing: a list of expenses with supporting documentation that you give to someone who pays you in return,” said Expensify CEO David Barrett in a statement. “Why have three different tools to do essentially the same thing?”
Expensify allows customers to use a smartphone app to take pictures of their receipts and then scan them as a way to file expenses and instantly create a report. Users can also import almost any bank or credit card as a way to keep track of their expenses and get reimbursed for them. This way, users don’t have to keep track of any paperwork.
Expensify currently serves 1.5 million users from more than 225,000 companies. It also launched a Bitcoin payment feature in March, allowing its customers to circumvent PayPal fees or to make it easier to pay international employees.
