This playbook outlines best practices for Seed to Series A startups with fewer than 100 employees, helping them leverage Expensify to scale efficiently while maintaining financial control.

Who You Are

As a VC-backed startup focused on growth and efficiency, you need a solution that automates financial operations while ensuring compliance. You prioritize top-line revenue growth over cost-cutting, recognizing that controlled spending fuels expansion. You want to empower employees with spending autonomy while maintaining oversight and minimizing manual finance tasks like reimbursements and reconciliations.

Step-by-Step Expensify Setup

This guide is based on best practices from thousands of companies using Expensify. Customize it as needed, and reach out via chat for additional support.

Step 1: Create an Expensify Account

If you don’t already have an account, visit new.expensify.com and sign up using your work email. Expensify accounts are free to create.

Step 2: Upgrade to a Paid Workspace

Expensify offers three workspace plans: Individual, Collect, and Control. We recommend Control for VC-backed startups because it provides:

• Spending caps and compliance controls via Concierge Audit Tracking.
• Scalable approval workflows as your team grows (see Step 8).

To create a Control workspace:

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

The Control plan is bundled with the Expensify Visa® Commercial Card and costs $9/user per month (annual commitment). You’ll also be assigned a Setup Specialist, available in your workspace’s #admins chat room on new.expensify.com.

Step 3: Connect Your Accounting System

Proper financial management is key for VC-backed companies. Ensure that:

• Every purchase is categorized correctly in your chart of accounts.
• Expenses sync automatically with your accounting software.

To connect your accounting system:

1. Go to Settings > Workspaces.
2. Click the Connections tab.
3. Select your accounting software (e.g., QuickBooks, Xero).
4. Follow the prompts to complete the connection.
5. Once connected, your categories will sync, allowing you to set Category Rules.

Step 4: Set Up Category Rules

Category rules help control spending and ensure compliance. We recommend:

1. Go to Settings > Workspaces.
2. Open the Categories tab.
3. Click Edit Rules for a category.
4. Configure rules such as:
   • $75 daily limit for meals and entertainment.
   • Require scanned receipts for:
     • Purchases over $1,000.
     • Lodging, meals over $50/person, office supplies, software, and airfare.
   • Require expense descriptions for airfare and rideshare/taxi expenses.

Step 5: Enable Scheduled Submit

For efficiency, enable Scheduled Submit on a Daily frequency:

1. Go to Settings > Workspaces.
2. Select your Control workspace.
3. Click the Reports tab.
4. Under Report Basics, set Scheduled Submit to Daily.

This ensures automatic expense submission while flagging exceptions for manual review.

Step 6: Connect a Business Bank Account

To use Expensify’s payment and reimbursement features, link your bank account:

1. Navigate to Settings > Account > Payments.
2. Click Add Verified Bank Account.
3. Provide your banking credentials and business details.

Once verified, you can reimburse expenses, issue Expensify Cards, and process invoice payments.

Step 7: Invite Employees

Invite employees to your workspace via:

• Unique Workspace Link (found in Settings > Workspaces > Members).
• Manual entry (enter emails and click Invite).
• Google SSO sync (if using Google Workspace).

Step 8: Set Up Approval Workflows

Define an approval process to manage expenses efficiently:

1. Go to Settings > Workspaces > Members.
2. Click Submit & Approve to set yourself as the approver.
3. Enable manual approval for expenses over $1,000.
4. Turn on Workflow Enforcement to ensure employees submit expenses correctly.

Step 9: Assign Corporate Cards

Expensify supports direct card feeds from most banks, but using the Expensify Card is recommended.

If using your own corporate card:

1. Go to Settings > Domains > Company Cards.
2. Select your bank and enter credentials.
3. Assign corporate cards to employees.

If using the Expensify Card:

1. Apply via Inbox* or *Settings > Domains > Company Cards.
2. Assign physical and virtual cards to employees.
3. Set SmartLimits:
   • $1,000 for employees.
   • $10,000 for executives.
   • Unlimited Virtual Cards for specific business expenses.

The Expensify Card enables real-time compliance monitoring and auto-reconciliation.

Step 10: Set Up Bill Pay & Invoicing

Expensify simplifies vendor payments and invoicing.

To pay bills:

1. Have vendors email invoices to yourdomain@expensify.cash.
2. Review the bill in Expensify.
3. Click Pay and choose ACH, card, or check.

To send invoices:

1. Go to Reports > New Report > Invoice.
2. Add billable expenses and a recipient email.
3. Click Send.

Step 11: Add a Billing Card

Ensure uninterrupted service by adding a billing card:

1. Go to Account > Settings > Payments.
2. Click Add Payment Card.
3. Enter your card details and click Accept Terms.

You’re All Set!

Your Expensify setup is complete! If you need help, reach out via new.expensify.com in your workspace’s #admins room. If you don’t have a Setup Specialist yet, upgrade to a Control workspace to be assigned one automatically.