Archives For Accounting

Xerocon pic

Though Xerocon London 2017 came to a close two weeks ago, our team is still buzzing about what an incredible event it was (only more six weeks until Xerocon Austin, but who’s counting?)! Kudos to the Xero team for making this year’s conference the biggest and best yet. Throughout the event, it was clear that the entire ecosystem continues to grow exponentially, promoting the value of automation for both accountants and their clients. Here are some of the biggest takeaways we had from the show!

The Belle of the Ball: Xero HQ!

Xero HQ was undoubtedly the biggest announcement to come out of the London event and we proudly announced our own involvement alongside the platform – Expensify has been selected by Xero as the expense management app for Xero HQ. As one of nine ecosystem apps selected out of 600, Expensify’s inclusion in Xero HQ allows accountants and bookkeepers to further drive efficiency within firms by centralising alerts for outstanding items in Expensify, such as expense reports awaiting review and approval, directly into their Xero HQ activity feed.

Community Vibes Abound

Pete's demo

The event was a great opportunity to catch up with existing partners as well as introduce Expensify to new faces. Well done to our very own Pete for taking centre stage on Day 2 for his demo! It felt pretty inspiring to be part of a community of people with the common goal of making accounting a truly holistic approach to running a business successfully. Our team really enjoyed Tim Leberecht’s keynote, which stressed preserving the human touch amongst all the automation. This is certainly in line with our own values at Expensify where we put employee morale on the top of our priorities with initiatives like our annual company-wide offshore.

Spoilt for Choice Out There

One of the big themes that came up from our partners this year was the sheer number of apps to choose from. It’s amazing to see the Xero ecosystem so buoyant, promoting and attracting fintech innovation, which makes the accounting space a really exciting space to be involved in. It also inevitably means that accountants have their work cut out for them, as they need to dig deeper into what each app does and the nuances which make it a better fit for certain clients over others. This is why accounting-specific programs, like our own ExpensifyApproved! Partner program, are increasing in popularity as accountants seek to become experts in their field. 

Xerocon 2017 Champions

Every ecosystem thrives from solid partnerships and champions, so it was great to see some Expensify users amongst the winners this year, including GoCardless, Taylorcocks and iwoca. A big well done to all the winners:

  • Accounting Partners of the Year – Armstrong Watson (UK), Beyond Accounting (Ireland) and Aucamp Sholtz Lubbe (SA)
  • Bookkeeping partner of the year –  Ken Bell Accounting
  • Emerging Partner of the Year – Taylor Cocks
  • Xero MVP  – Soaring Falcon Accounting
  • 100% Xero – Farnell Clarke
  • Industry Specific App of the Year – Unleashed
  • Emerging App Partner of the Year – iwoca
  • App Partner of the Year – GoCardless

See You Soon!

Xerocon has left attendees feeling invigorated about change, challenging them to continuously improve their workflows. If you are wondering why you’re still tracking your conference receipts in an excel file or manually reconciling your client’s company bank account at the end of the month, give us a shout here. We’d love to show you how bright 2018 could look when it comes to expenses. In the meantime, see you all at Xerocon Austin in early December!

Everybody knows what accounting is:

Accounting [uh-koun-ting] (noun)

The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.

But what is “preaccounting”?  Not everybody is as familiar with this newer concept, so I’ll go ahead and define “preaccounting” as:

Preaccounting [priuh-koun-ting] (noun)

The system through which financial data is gathered, coded, aggregated, and normalized so as to enable accounting to occur; accounting processes executed by non-accountants, including expense management, time tracking, etc.

In layman’s terms, preaccounting is the super boring, tedious work that nobody wants to do, but that absolutely needs to be done before the truly valuable accounting work can begin.  Unlike accounting, which is clearly the job of accountants, preaccounting is nobody’s job Continue Reading…

This guest blog post is brought to you by our friends at Intuit QuickBooks. Happy Holidays!

The Gift of Time Intuit guest blog post for Expensify

The best way to carry success into the New Year is to move down the checklist and make sure everything is wrapped up — figuratively and literally — for the holiday season. For business owners, this means final expenses, deductions, and tax preparations.  Continue Reading…

This guest post is written by Dave Anderson, Inbound Marketing Specialist at Xero.

When You need to hire an accountant for your small business

Running a business often requires making some tough decisions. And the decisions only get tougher when they impact your bottom line.

Fortunately an accountant will help during these times. Many people believe they are limited to doing the books and preparing tax returns, but an accountant can help you with so much more.

They can advise you on the best course of action of your business, based on their expertise and a deep understanding of your finances. Here are some common situations small businesses face where it makes sense to hire an accountant:  Continue Reading…

Receipts-1

When I was a child, my mom collected shoeboxes. Big boxes, tall boxes, small boxes, etc. Their varying sizes made them a great storage option.

My parents own a slew of vending machines in and around my hometown and keeping track of their expenses during the year was never a huge priority. As a result, my mom finds the best-priced soda at one store then travels to the next, even if it’s only because she has a coupon for potato chips. She had receipts from Sam’s Club (a retail warehouse), gas stations, grocery stores, and more. It’s a lot of driving and even more receipts.

Continue Reading…

 MSP Logo black text

This week’s Expensifier of the Week is MSP Leadership, a London based company developing and inspiring leaders of all levels through executive coaching, leadership development and team development workshops.

MSP-Leadership was founded to push the limits of leadership in pursuit of excellence. A former Concur user, expense reports used to take time away from that. The MSP team used to “spend years scanning receipts and filling out spreadsheets,” says Director Aaron Penwill. With more complex reports on their horizon, they knew it was time for a change. As a result of the switch, the team agrees they work at least 20% faster than Concur and 200% faster than their old expense reporting process.  Continue Reading…

Hey there! It’s Conor again, one of the Success Coaches at Expensify. Ours is a new team, dedicated to ensuring expense reporting happiness for our customers. This week, we’re following-up a previous announcement by expanding our corporate card export support to NetSuite customers too. This great feature allows you to export transactions to specific company card sub accounts in NetSuite.

Our great two-way integration with NetSuite already supports exporting to journal entries and expense reports, and with this update we’re supporting greater flexibility and enabling our customers to work even more effectively.

Continue Reading…