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We are a church and decided to implement the Expensify card in December 2019 because we have a strong desire to move away from credit cards. Our goal was to simplify the spending purchase, have more control over our card usage, and ability to have better reporting.
We implemented Expensify in June 2019, and made the official switch to Expensify Cards in December of 2019. We learned a lot from this process and I hope that the below helps when making a decision on this. We have about 14 expensify cards in circulation right now.
- Easy to issue a card, easy to remove a card, and simple to control the limits on each card. Much better than our previous Wells Fargo cards.
- Record speed getting from transaction to Expensify for reporting. Our employees love this. This used to take 2 - 7 days with Wells Fargo.
- Daily settlements make it so we don't get too out of touch for our credit card spending. We never have to cringe and thing "Dang, that's a lot on our cards..."
- E-receipts are great and it's a pro with the added value, but we have entirely disabled this because of policies requiring us to have a bit more insight into purchases.
- Lack of general documentation. You're on your own. There is very little documentation to support the expensify card outside of a few high level deep dives. We had to figure most of this out on our own or by asking support.
- The "unapproved card limit" is great, but can be very confusing because employees have no way to know how close they are to their limit.
- Daily settlements are difficult to reconcile in other accounting platforms outside of Quickbooks. For example, i have to match 5 - 25 transactions per daily settlement manually. There are a few other bugs in it with matching.
- Our employees get a lot of unrelated emails ever since signing up for Expensify cards.
- The general expensify support is horrible. If I had the time on my hands, I would have transitioned out already. If we don't see an improvement in support, we may transition out this summer.
- Splitting expenses are not supported, which makes reporting a pain. It requires separate transactions.
- No mobile management ability, not even a mobile website.
At the end of the day, our expensify cards have been an interesting implementation and have saved time in some areas and created huge headaches in other areas. In hindsight, I would have waiting 6-12 months before implementing this as I know expensify is improving this every day. It does not seem like it was ready to go public at a large scale when it did. I believe that this will become a great product, it's just not there yet.