Expensify vs Shoeboxed: Which One Is for You?

Whether you’re self-employed or a business owner, choosing the perfect accounting software for your business is very important. There are countless software and apps on the market with various features, pricing, details, and so much more to check. We understand that not all people have time to test dozens of solutions. That’s why we came up with a complete comparison between the top choices for receipt tracking and expense management software: Expensify vs Shoeboxed

An overview: Expensify vs Shoeboxed

1. Cross-platform compatibility

Different people have different needs. Some love iOS, while others are loyal to Android. And there are Windows users, and there are people who like to access things on a browser. This situation is especially true when working as part of a team.

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

2. Interface

Since most of us use smartphones to scan receipts, the app’s interface is an important part to consider when choosing the right accounting app. Both apps are easy to use with the basic functions displayed right on the portal. The interface is clean and intuitive with a focus on simplicity and speed.

A comparison between Expensify vs Shoeboxed’s interface

3. Main features

The basic functionality remains the same. You scan an expense receipt, and the app will extract the key data such as items, quantity, price. They will also categorize them by vendor, the total amount, date, and payment type. There are various categories to further classify your expenses like Mileage, Groceries, Entertainment, Office Supplies, etc. Then, the apps create a digitized version of the receipt synced with your cloud account. 

Both apps allow you to arrange receipts by trips, create a report, and submit it for approval. Users can also track mileage for business trips with both apps. Additionally, Expensify offers a per diem functionality where an individual is given a daily allowance, and you can use the app to keep track of it on a daily basis.

On the other hand, Shoeboxed has one feature that Expensify lacks. If you have a bunch of receipts and no time to scan them, you can mail them straight to Shoeboxed‘s processing facility for free with our postage-paid Magic Envelope™. Shoeboxed will scan the receipts, turn them into organized and actionable digital data, and upload them to your account. 

This mail-in feature that Shoeboxed offers helps you clear your desk and drawers and bring you up to speed. This unique service is extremely useful for small business owners or freelancers—those who have to handle a lot of work on their own. By doing this, you can free yourself from the paperwork and focus on improving your business’s core value. 


What’s more, Shoeboxed ensures that all your digital receipts are human-verified and audit-ready. You can rest assured that your receipts are legibly scanned, clearly categorized, and accepted by both the Internal Revenue Service and the Canada Revenue Service in the event of an audit. This is the best choice for freelancers and business owners when it comes to tax season. 

4. Third-party integration

Both Shoeboxed and Expensify integrate with various third-party apps and software such as Quickbooks, Intuit, and Xero. Expensify also connects with Microsoft, Oracle, SAP, Bill.com, Uber, and several other popular services. 

5. Pricing

Pricing is definitely an important factor to consider, especially if you’re looking for a scalable solution.

Shoeboxed offers three primary plans. The Startup plan (for individuals and freelancers) begins at $18/month, allowing you to scan and store up to 900 documents (both physical and digital) per year. If you are a professional or small business owner, go for the Professional plan. With $36 for two users, this plan offers you 3600 documents/month. If you own a business with high volume, the Business plan at $54/month with 7200 documents/month is the most suitable option.

On the other hand, Expensify takes a simpler approach limiting the number of plans available. The individual plan begins at $5/month with no limit on receipts scanning. If you’re working in a team, Expensify offers a $9/user/month plan and a corporate plan that begins at $18/user/month. They also have an enterprise solution customized based on your business’s demands. 

Comparison: Expensify vs Shoeboxed

To help you better visualize the differences between Expensify vs Shoeboxed, we’ve made this handy chart for you: 

ExpensifyShoeboxed
OverviewExpensify is an expense management system for personal and business use. Expensify helps users scan receipts, track expenses, and book travel all in one app.Shoeboxed is the painless solution for freelancers and small business owners to track and digitize their receipts, maximize tax deductions and prepare audit-ready reports.
Platforms supported– Web-based
– iOS
– Android
– Web-based
– iOS
– Android
Language supportedEnglishEnglish
Targeted customers– Freelancers
– Small businesses
– Mid-sized businesses
– Large enterprises
– Freelancers
– Small businesses
– Mid-sized businesses
Customer support– Email
– Phone
– Live support
– Video tutorials
– Phone
– Online
– Video tutorials
Features– One-click receipt scanning
– Credit card import
– Multi-level approval workflows
– Corporate card reconciliation
– Accounting, HR, and travel integrations
– Multi-level coding
– Advanced tax tracking
– Audit and compliance
– Delegated access
– PCI-compliant security
– Automatically identify currency
– Receipt scanning
– Optical Character Recognition
– Human data verification
– Scanned receipts storage
– Receipt search
– Mobile receipts tracking
– Mileage tracking
– Data digitization service
– Gmail receipts archiving
– Business cards management
– Tax filing
– Expense reports
– Multiple international currencies
IntegrationsExpensify integrates with various accounting software as well as HR, travel, and accommodation systems and applications:
– Accounting: Bill.com, FinancialForce, NetSuite, QuickBooks, Sage, Xero, Scan Snap
– Transport: Automatic, Grab, Lyft, Trainline, Uber
– Accommodation: Hotel Engine, HotelTonight, Roomex, TripActions
– Travel Bookings: Flight Sugar, Gallop, Jettly, Lola, Pana, TravelPerk
– Travel: NexTravel, TripActions, Trip Catcher
– Other Integrations: Accelo, Global VATax, PayPal, RevelPOS, Microsoft Dynamics, Financial Force, Workday, TSheets
Shoeboxed integrates with the following third-party solutions:
– QuickBooks
– Xero
– MYOB
– Dropbox
– Evernote
– GoDaddy Online Bookkeeping
– WaveAccounting
– FreshBooks
– OneSaas
– Saasu
– Salesforce
– WorkingPoint
– Bench
– ScanSnap
PricingAlong with the free version, Expensify offers two pricing plans: 
– The Collect plan at $5/user/month
– The Control plan at $18/user/month
Along with the free version, Shoeboxed offers three pricing plans: 
– The Startup plan at $18/month
– The Professional plan at $36/month
– The Business plan at $54/month

In the end, the choice is yours

By comparing the features, integrations, and pricing with your business’s needs, you’ll be able to decide which app is the best fit for your business. Don’t forget to get a free trial before subscribing to experience how the program can benefit you in practical situations.

If you’d like to see more comparisons between Shoeboxed and other accounting apps, let us know in the comments! 

Don’t forget to subscribe to the Shoeboxed blog for more engaging stories about entrepreneurship, staying organized, DIY accounting, together with Shoeboxed‘s latest product updates. 

What’s in the Business Travel Backpack in 2022?

At some point in your career, you may need to travel for business purposes. Whether it’s a domestic or overseas trip, attending a conference or company meeting, you may be wondering what exactly needs to be included in your business travel backpack. In this article, we’ve listed a thorough, complete list of business travel essentials and we’ll explain why you need these items. 

Business trips often require you to bring both personal and professional items, so using a packing checklist for a business trip helps you organize and carry these items when you travel for work. Without a checklist, you’ll be more likely to forget an essential item that you’ll need for your work while away from the office. A checklist can also help you pack faster, so you can maximize your time before you leave for a business destination. 

What should be included in your business travel backpack?

We’ve broken our list down into 5 main categories: Business essentials, Documents, Accessories, Clothing, and Personal Items. Be sure to consider packing each of the items we mention below for your next business trip:

Business essentials

  • Laptop or tablet

Even if the hotel offers computer-rental services, it’s also a good idea to bring your own laptop or tablet. Think about the security of your business files, applications, and presentation software. Bringing your laptop also allows you to work efficiently while traveling anywhere, at any time, on any transportation. 

  • Cell phone and chargers

It might seem too obvious, however, you might leave your home thinking you’ve got everything you need, only to discover while you’re in the taxi that you forgot your chargers. So, remember to charge your batteries fully the night before and pack all your chargers into your business travel backpack right when you wake up. Or if you really want to be prepared, consider buying a spare charger to keep permanently in your travel bag.

  • WiFi hotspot

Carrying your own internet hub may be helpful while traveling for long hours to different places. You can then work efficiently without worrying about a weak internet connection. It’s also a great idea if you’re at the airport, hotel lobby, or convention center where large numbers of users log in at the same time, which can lead to slow connection speeds.

  • Headphones or earbuds

These sound devices help you work continuously during transit or conduct online meetings in various environments. You can also use them for entertainment during break time. 

  • Business cards

Going to business meetings or conferences is a great chance to expand your network. You can exchange business cards with other business owners or partners. It would be a pity if you forgot your business cards. If you’re concerned about the space and clutter they might take up, see our guides on five effective ways to store your business cards.

Tip: As QR codes are becoming extremely popular, you can consider including one on your business cards. By doing this, your business connections can scan this code with their device to see a professional website, social media platform, or digital portfolio of your business. 

Shoeboxed is a painless receipt tracking and expense management solution for freelancers and small business owners. If you’re a frequent business traveler, consider using Shoeboxed for better tracking expenses and reducing clutter. With the Shoeboxed app (available on iOS and Android), you can easily scan receipts, track mileage or and other business expenses, and even generate clear, well-structured expense reports from your mobile device

  • Presentation remotes

If you’re giving a presentation, bringing a remote device to move through your slides can be helpful as it allows you to interact with other professionals throughout the room. You can choose a traditional presentation remote, a laser pointer, a clicker, or present with a mobile app. 

  • Adapters

If you’re traveling to a foreign country, you may need power adapters that fit your charging cords. You can check the international standards before you travel to see whether you’ll need to purchase a device or not. 

  • Notebook and pen

Even though you can take notes with any digital note app on any device, it’s still a good idea to have pen and paper ready to take handwritten notes. By preparing these, you’ll still be able to capture information should your devices have any technical problems. . What’s more, creative thoughts that lead to big business ideas are sometimes scratched on a piece of scrap paper during a session or even over a coffee break.

Documents

Documents are the most important things you need to take while packing for business trips. Along with essentials such as your passport and other ID, don’t forget to check the local travel requirements necessary during the Covid-19 pandemic. 

  • Passport (and a valid visa)

If your business trip takes you across borders, don’t leave home without your passport. If you’re traveling abroad for business, you often need to provide border security with a guarantee of when you’ll leave the country. Without this,  some countries won’t let you in without a copy of your complete itinerary.

  • An ID card

Though you don’t necessarily need to show an ID card (such as a driver’s license or other identifying documents) together with your passport, carrying such documents can still be a good idea as they protect you from unexpected situations. 

  • Boarding pass

Your boarding pass is the second most important document after your passport. Nowadays, most boarding passes are available on your mobile, but make sure that you’ll have internet access via your phone if you plan to use one. Or you can simply take a screenshot of the boarding pass and use it offline through your photo gallery on your phone.

You can also print out the details of your transportation and accommodations for your convenience. This information can be helpful in case you need to fill in any forms or to tell your taxi driver where to drive. 

  • Vaccination certificate and negative Covid-19 test result

Some countries won’t let you in if you’re not fully vaccinated or unable to show proof of vaccination or don’t have a negative Covid-19 RT-PCR test result document. Remember that the test result is only valid for 72 hours before arrival, so if your destination requires this test document, you’ll need to take the test and be able to get the result documents right before you leave on your trip. 

Important note: If you’re traveling to another country, the local government might require you to quarantine for a while, usually from three to fourteen days. So, it’s extremely important to check the current law to see if you need to do a quarantine or not so that you can adjust your luggage accordingly. 

  • Business documentation

Last but not least, make sure you have all necessary business documents on your digital devices (or print a hard copy of them). You wouldn’t want to end up forgetting your presentation slides or any important portfolio at the last minute, would you?

Accessories 

You may think it’s unnecessary to bring accessories on a business trip. Still, these items can actually help you leave a good impression on your business partner, contributing to the trip’s success. They can even protect you from unexpected situations, such as weather changes, and so on. For example, here are the most simple and subtle accessories you can consider packing: 

  • Glasses or contacts lens

These are the most important accessories if you have eyesight problems. Don’t forget to bring a case and cleaning products for your eyewear as well. 

  • Sunglasses, hat, and umbrella

Though you can always check the weather forecast before your trip, these items are extremely necessary when traveling to tropical regions. Keep your sunglasses and umbrellas ready to protect you from the intense sunlight or rain. 

  • Watch and jewelry

Simple and elegant watches and jewelry complete your business attire for both casual and formal events. However, it’s a good idea to avoid bringing expensive and highly valued items because they’re easily lost or stolen. Instead, you can pack a functional and modest watch and jewelry for business trips. 

Clothing

It’s very important to dress up properly during business meetings. Here are the main items you’ll need to have a successful business trip: 

  • Business attire

You’ll need professional clothing, which in most cases includes suits, slacks or skirts, and dress shirts. Unless you’re taking a long trip, generally, one or two complete suits with a variety of shirts will be enough. Men may need to pack some ties that are interchangeable with their shirts and suits. For ladies, adding a scarf or pin can change the look of the same outfit so you can wear it on several occasions.

  • Formal wear

If you’re attending a formal event during your trip, you’ll need to pack an appropriate suit or dress. Black tie events require the highest formal wear, while cocktail events call for less sophisticated styles. Normally, you’ll see the dress code attached to the event invitation, but if you’re unsure of how to dress, you can ask a colleague or supervisor for a suggestion.

  • Dress shoes or heels 

Packing one pair of well-fitting dress shoes or heels is probably enough for your trip. Make sure they’re cleaned and in good condition before you pack them. 

  • Jacket or sweater

Even if you’re traveling to a warm climate, the temperatures inside airports, hotels, and conference centers can get chilly, so it’s still a good idea to pack a light sweater or jacket that you can easily tuck inside your bag. 

  • Casual outfits and shoes

After work hours, you may have personal time to explore local attractions or relax. You’ll want to wear comfortable clothing in non-business time. If you plan to sightsee, you’ll also need a good pair of walking shoes. You may even want to bring a bathing suit if you have a chance to visit the hotel pool or hot tub. 

  • Workout gear

It’s important to focus on your well-being and maintain a daily workout routine, even on a business trip. Packing some workout clothes allows you to continue your exercise routine in the hotel gym. If you prefer outdoor activities, you can even go for a run close by where you are staying during your business trip.

  • Pajamas, underwear, and socks

It goes without saying that bringing your nighttime clothes and underwear helps you stay comfortable throughout the day and night. You can even bring pillow spray in case you need a familiar smell that helps you drift into sleep easier. 

Personal items

It’s easy to overlook things when you need to keep your luggage as light as possible, but leaving behind the essentials could throw off your whole trip. Bringing personal items can help keep you comfortable during the long flights and the whole trip. 

  • Water bottle

Having a full reusable, refillable water bottle in your business travel backpack helps you stay hydrated without wasting money or generating the extra trash of plastic bottles.

  • Snacks

Even if your company or hotel provides food, you never know when you may have to wait a long time between meals. Bringing healthy snacks like energy bars or granola can get you through a long day of meetings. These snacks are also easy to pack into your backpack as they don’t require special preservation conditions and are super easy to eat during a quick break. 

  • Entertainment (books or Kindle)

A good book helps you pass long hours waiting or traveling and reading books is a good chance to take a break from screen time. Otherwise, you can always carry your Kindle or any digital reading device or app on your phone to keep yourself entertained. 

  • Basic toiletries

A personal toothbrush and toothpaste, deodorant, soap, shampoo, and a razor are all travel essentials. Buying a travel kit can be convenient as all these necessities are included, plus they are designed to meet the airline’s liquid safety requirements. On the other hand, you can always pack your own items at home, but don’t forget to check if they’re in good condition and meet those requirements. Don’t forget to pack the necessary medications, too! 

  • Sunscreen

Using sunscreen is extremely important to protect your skin from harmful UV rays. Don’t forget to apply sunscreen every morning and retouch it after 2-3 hours when participating in outdoor activities.

  • Face masks

Many countries require people to wear face masks in public places to protect themselves from getting Covid-19. What’s more, you can even get fined for not wearing face masks while doing community activities. That’s why it’s a good idea to always wear and keep some masks in your bag for your own good. You can choose either fabric masks or medical masks, depending on your preference. 

  • Medical gloves

Public surfaces may contain lots of bacteria. Together with face masks, medical gloves help protect yourself while traveling in public spaces. You may consider packing gloves for your business travel backpack, especially if you’re going to spend some time at the airport or train station. 

  • Hand sanitizer

Needless to say, hand sanitizers are handy as they’re small and easy to keep in your business travel backpack. Using them also means that you don’t need to re-wash your hands with water. If you’re allergic to perfumes, consider choosing hand sanitizer with a scent-free label. 

The bottom line

Packing for business trips will no longer be a struggle as long as you keep a handy checklist. You can keep the checklist as a note on your phone, laptop, or any other device so that it won’t get lost, faded, or damaged. 

We hope that this article helped you identify the most important items you’ll need in your business travel backpack so you can be well prepared for your travels.
Don’t forget to subscribe to the Shoeboxed blog for more engaging stories about entrepreneurship, staying organized, DIY accounting, along with the latest Shoeboxed product updates!

What is a Bank Transaction Receipt and its Benefits for Your Business

Whenever you visit a bank and make a monetary transaction, such as a deposit or withdrawal, the bank will provide you with a bank transaction receipt. This is how banks keep an accurate and up-to-date record of all financial transactions conducted at a given location by various account holders. 

Since this financial term is used in many situations in daily life, it’s good to have a basic understanding of bank transaction receipts and how your business can benefit from them. 

What is a bank transaction receipt?

A bank transaction receipt (also known as a bank receipt) is a standard form of documentation for most financial transactions. Customers who go to banks or other financial institutions to conduct any monetary transactions should expect to receive a bank receipt for these transactions. 

Besides transactions involving deposit accounts, these receipts are also sent to customers who make loan payments, credit card payments, and conduct other similar types of transactions. Bank transaction receipts are also given to businesses that conduct financial transactions at a given bank or financial institution. 

Banks also keep their own copies of bank transaction receipts. This ensures thorough record-keeping for all financial transactions for each of their various account holders. These receipts are also a form of collateral. If a customer makes a request, the bank will have a detailed record of the transaction to refer back to. Whether a bank employee makes an error or an account holder miscalculates a portion of the transaction, bank transaction receipts make it much easier to resolve disputes. 

In the past, bank transaction receipts were paper slips. However, in recent years, many banks have begun to offer digital copies of receipts (by email,  text message, or other methods). 

Using digital receipts rather than paper receipts enables the bank to save on printing costs. Digital receipts also provide convenience for account holders as they no longer have to keep track of numerous paper receipts. 

Bank transaction receipt details

A bank transaction receipt contains detailed information about a financial transaction conducted at a particular bank. The form of the receipt may vary by bank or institution, but all bank transaction receipts must include these essential details: 

  • Bank account numbers
  • Account holder name(s)
  • Date of transaction
  • The total amount of the transaction

Sometimes a bank transaction receipt will even include detailed information such as the employee number of the bank employee who conducted your transaction. 

How to use bank transaction receipts for bookkeeping

Given the importance of bank receipts to businesses, you can make use of these documents and turn them into a helpful tool for your bookkeeping practices, either for personal or business expenses. In fact, many banks and other financial institutions recommend balancing your account books on a monthly basis and referring to your bank transaction receipts throughout the process. It’s common to go over monthly bank statements and cross-check this information with all of your bank transaction receipts that you have collected for a given month. 

Even if you hire a professional accountant to track your personal or business finances, they will request a copy of your bank transaction receipts. Bookkeepers use this information to track your income, expenses, and other financial transactions impacting your cash flow. This financial data helps keep an accurate and real-time record of your financial activities. 

Bookkeepers also use bank transaction receipts for data entry purposes to track your credit card payments, which can help you control your spending. Bank transaction receipts can even help you improve your credit score over time with good bookkeeping practices

Some people prefer to use receipt tracking mobile apps that automatically track this information in real-time instead of working with an accountant. You’ll no longer have to keep a hard copy of your bank transaction receipts by using mobile apps, as this information is readily available on your mobile device. You only need to make sure that you store these physical copies of your bank receipts before uploading them into a cloud-based system. After scanning your documents with a versatile mobile app, you can free your desk and drawers from piles of paper receipts and keep them for years!

See more: 5 Best Receipt Scanner and Organizer Apps for Small Businesses in 2021.

How to use bank transaction receipts for taxes

Bank transaction receipts can be very beneficial when preparing for tax season. To work on the tax reduction process, first, you need to collect all proof of purchases for your business expenses. Next, you need to find the right tax form and fill in all the details. The last step is to submit the form and then you’re good to go. 

Business owners can use their bank transaction receipts to balance their accounts. You can do this by reviewing the monthly bank statement and comparing the amount and transaction dates of items listed on the statement with their bank receipts. 

Typically, businesses will keep their bank receipts until the end of the year for tax preparation purposes. Individuals who claim tax deductions for certain types of expenses must also keep copies of bank transaction receipts to prove that they qualify for deductions related to banking transactions, such as interest charges or mortgages.

The bottom line

Bank transaction receipts, along with business plans, marketing strategies, and financial reports, are essential documents for all businesses. Keeping and managing these documents properly can help track your business’s financial performance, solve disputes, keep the bookkeeping up to date and even claim tax deductions with ease. A simple yet effective way to achieve this is to digitally scan and store your important documents. 

Shoeboxed is a painless receipt-scanning and organizing solution for freelancers and small business owners. After scanning your receipts with the Shoeboxed app, our OCR engine will automatically extract the most important data points and automatically categorize them by vendor, total spent, date, and payment type. After that, our staff will double-check to ensure that all of your data is human-verified, categorized, organized, fully searchable, and available on any device. Shoeboxed keeps your bank transaction receipts in a safe place with high accessibility. 

See also: How To Scan A Receipt Digitally With The Shoeboxed App.

The Shoeboxed app is available on iOS and Android. You can try Shoeboxed for free before choosing the perfect plan for your purposes!