Expensify for EC
Expensify is a tool for managing expense reports. EC uses Expensify to process both company credit card reporting and expense reimbursement. You can use Expensify from your iPhone or any web browser. Please follow the steps below for:
Setup
When you are invited to EC’s Expensify policy, you will receive an email invitation with the subject line “[Expensify] An Expensify policy has been shared with you”.
From this email, click the SIGN IN button to accept the invite. Then follow instructions to set up a username & password with Expensify.
If you cannot find your email invitation…or when you have forgotten your password, navigate to Expensify’s Sign In page. Click the word FORGOT in the password field. This will prompt Expensify to send you an email with instructions to set up or reset your password.
When submitting a report for reimbursement, you will be reimbursed electronically. You must set up your bank information in Expensify. Instructions here: https://docs.expensify.com/setup-for-submitters/advanced-configuration-for-submitters/add-a-deposit-account-united-states
Company credit card reporting
As a company credit card holder, it is your responsibility to report to the company on the purchases you make using the company credit card issued to you. Expensify adds automation features that simplify the process.
Your company credit card will be linked to your Expensify account for you; do not perform this setup step or you may cause duplicate downloads. The card will be connected once you begin making purchases with it.
Once the card is linked, Expensify will automatically pull in your credit card charges as they post to your account. Expensify will then automatically group together the individual expenses into a monthly expense report and name the report for you. The name of these reports follows this format:
“CCC YYYY-MM-DD Name XXXX”
(company credit card) (end of the month of the charges incurred) (name of cardholder) (last 4 digits of credit card number)
Company credit card reports are not processed for reimbursement. Click here for instructions to submit reimbursable expenses in separate reports than company credit card expense reports.
Follow these 4 steps to submit your company credit card report each month. Reports are due the 15th of the following month.
STEP #1: Sign In and navigate to Reports screen to find the credit card report that was automatically created for you for the month. Click on the report to view the details of that month’s activity.
STEP #2: In the upper section of the report, click the Locations dropdown list to select the Team you work on. Next to that field you may enter a Report Description (optional).
STEP #3: Review all of the expense line items in the report. Click each row to view the details of the expense.
Select a category and class for each expense. The category describes the product or service you purchased. The class describes the EC Initiative for which the purchase was incurred.
Attach receipts & add memos to each expense to describe, for example, who you had a meal with or what trip you took or what project you purchased, etc.
Notes:
- You can also use the pencil icon on the left pane to select and edit multiple expenses all at once, such as to assign the same one class to all of your expenses.
- Expensify will generate a text e-receipt for purchases under $75. If you have the original receipt, that is preferable, please attach it instead.
- The Reimbursable checkbox should be unchecked for all company credit card expenditures.
STEP #4: Click the Submit button to send the report for approval. Company credit card reports are due the 15th of the following month.
Expense reimbursement
When you use personal funds for business expenses, submit them for reimbursement by creating a new expense report separate than a company credit card report. A new report will be automatically named for you. The name of these expense reimbursement reports follows this format:
“Reimburse email YYYY-MM-DD”
(expense reimbursement) (email address of submitter) (date report created)
Follow these 4 steps to submit an expense report for reimbursement.
STEP #1: Sign In and navigate to Reports screen. Click New Report button.
STEP #2: In the upper section of the report, click the Locations dropdown list to select the Team you work on. Next to that field you may enter a Report Description (optional).
Click the plus icon to add reimbursable expenses to this report.
Step #3: Click the New Expense button. On the Expense tab (default), enter the details of the purchase, including merchant name, date of purchase and total amount. For mileage reimbursement, click the Distance tab and enter details of your trip. To enter expenses in batch, click the Multiple tab for a grid layout.
For each reimbursable expense, confirm that the Reimbursable checkbox is checked.
Then select a category and class for the expense. The category describes the product or service you purchased. The class describes the EC Initiative for which the purchase was incurred.
Attach receipts & add memos to each expense to describe, for example, who you had a meal with or what trip you took or what project you purchased, etc.
Notes:
- You can connect your personal credit card(s) to Expensify to import bank description (usually merchant name), date and amount
- You can use the pencil icon on the left pane to select and edit multiple expenses all at once, such as to assign the same one class to all of your expenses.
- Expensify will generate a text e-receipt for purchases under $75 that were downloaded from your personal credit card. If you have the original receipt, that is preferable, please attach it instead.
- The Reimbursable checkbox should be checked for all reimbursable expenditures.
STEP #4: Click the Submit button to send the report for approval and reimbursement.
Additional Resources
Expensify has tons of features and a great iOS app for your phone. Here are some helpful resources to get you started:
- https://docs.expensify.com/setup-for-submitters
- https://docs.expensify.com/using-expensify-day-to-day
- In order to better support you, make emerson@redmondaccounting.com your co-pilot: https://docs.expensify.com/setup-for-submitters/advanced-configuration-for-submitters/add-a-copilot-formerly-wingman