Expensify Playbook for Small to Medium-Sized Businesses

Expensify helps small to medium-sized businesses (100-250 employees) streamline expense management, increase compliance, and simplify reimbursements. This guide outlines best practices to optimize your workflow.

Who You Are

As a small business owner, your goal is to grow your company while maintaining financial control. By implementing Expensify, you can:

• Equip employees with an easy-to-use expense reporting system.
• Ensure compliance with company spending policies.
• Improve visibility and control over expenses.

Setting Up Expensify: Step-by-Step

This playbook is built on best practices from thousands of businesses worldwide. Use it as a starting point and customize Expensify to meet your needs.

Step 1: Create Your Expensify Account

If you don’t already have an account, sign up at new.expensify.com using your work email. It’s free to create an account.

Employees really appreciate how easy it is to use, and the fact that the reimbursement drops right into their bank account. Since most employees are submitting expenses from their phones, the ease of use of the app is critical.
Robyn Gresham Senior Accounting Systems Manager at SunCommon**

Step 2: Create a Control Workspace

For small businesses, we recommend the Control Plan because:

• It supports high-volume expense submissions.
• It enforces compliance controls.
• It integrates with QuickBooks Online, Xero, NetSuite, and Sage Intacct.

How to Set Up a Control Workspace

1. Go to Settings > Workspace.
2. Select Group and click New Workspace.
3. Click Select under Control.

Control Plan users also receive a Setup Specialist to assist with onboarding. Find yours in new.expensify.com under your workspace’s #admins room.

Step 3: Connect Your Accounting System

Sync Expensify with your accounting software for real-time financial tracking:

1. Navigate to Settings > Workspace > Connections.
2. Select your accounting system and follow the setup prompts.

QuickBooks Online
Xero
NetSuite
Sage Intacct

Step 4: Set Category-Specific Compliance Controls

1. Go to the Categories tab in your workspace settings.
2. Enable People Must Categorize Expenses.
3. Set stricter compliance rules for high-risk categories (e.g., Meals & Entertainment should require receipts and descriptions).
4. Disable irrelevant expense categories.
5. Configure Auto-Categorization for imported card transactions.

Step 5: Require or Set Default Tags

• Require Tags: In the Tags tab, enable the “Required” field to flag uncategorized expenses.
• Set Employee Default Tags: If using NetSuite or Sage Intacct, auto-assign employee departments to expenses.

Step 6: Establish Global Compliance Rules

Set workspace-wide compliance policies in Expenses > Violations:

• Max Expense Age: 90 days (or leave blank).
• Max Expense Amount: $2,000 (or leave blank).
• Receipt Required Amount: $75.

Step 7: Enable Scheduled Submit

Automate expense submissions with Scheduled Submit:

1. Go to Settings > Workspace > Reports.
2. Enable Scheduled Submit* and set frequency to Daily.

Step 8: Connect Your Business Bank Account (US Only)

1. Go to Settings > Account > Payments.
2. Select Add Verified Bank Account and follow the prompts.

Step 9: Invite Employees and Set Approval Workflows

• Select an Approval Mode: We recommend Advanced Approval.
• Bulk Invite Employees: Upload via CSV for efficiency.
• Manually Approve Reports: Ensure expense coding accuracy.

Step 10: Configure Auto-Approval

1. Navigate to Settings > Workspace > Reimbursement.
2. Set Manual Reimbursement Threshold* to $20,000.

Step 11: Enable Domain Control and Corporate Cards

If You Have a Corporate Card

1. Go to Company Cards and select your bank.
2. Enter master admin credentials.
3. Assign cards to employees.

If You Don’t Have a Corporate Card

Consider using the Expensify Card:

• Realtime transaction tracking and compliance alerts.
• No credit checks, annual fees, or personal guarantees.
• Cash back on US purchases.

Apply for the Expensify Card

Step 12: Set Up Bill Pay and Invoicing

1. Vendors can send invoices to yourdomain.com@expensify.cash.
2. Approve and pay invoices via ACH, credit card, or check.
3. To send invoices, create an Invoice Report in Reports > New Report > Invoice.

Step 13: Run Monthly, Quarterly, and Annual Reports

1. Go to Expenses.
2. Click the pie chart icon in the top-right.
3. Apply filters to generate:
   • Monthly: Department and project spend reports.
   • Quarterly: Budget comparison reports.
   • Annual: Spending trends for fiscal planning.

Step 14: Finalize Your Subscription and Payment Method

1. Go to Settings > Workspace > Subscription.
2. Select Annual Subscription for a 50% discount.
3. Add a payment card under Account > Settings > Payments.

You’re All Set!

Congratulations! Your business is now fully optimized with Expensify. If you need assistance, contact your Setup Specialist via new.expensify.com.