Are you tired of sifting through endless receipts and spreadsheets?
Do you want to simplify your accounting process and save valuable time?
Especially accounting firms looking to optimize their workflow.
This guide will help you understand Docyt vs Expensify’s key features so that you can make an informed decision for your firm.
Overview
We’ve put both Docyt and Expensify through their paces, testing their core features and real-world accounting applications.
This direct comparison will show you how each platform compares, helping you decide which is a better fit for your firm.
Streamline expenses with Expensify. Join the 10+ million users who’ve automated their reports.
Pricing: It has a free trial. The premium plan starts at $5/month.
Key Features:
- SmartScan Receipt Capture
- Corporate Card Reconciliation
- Advanced Approval Workflows.
Tired of manual bookkeeping? Docyt AI automates data entry and reconciliation.
Pricing: It has a free trial. The premium plan starts at $299/month.
Key Features:
- Document Automation
- Expense Management
- Bill Pay
What is Expensify?
Expensify is well-known for making expense reports super easy.
It’s like magic for your receipts! You just snap a picture of your receipt with your phone.
Then, Expensify reads the info and fills out your expense report for you.
Also, explore our favorite Expensify alternatives…
Ready to ditch the paper clutter and simplify your expense tracking in 2025? Expensify users report saving an average of 2 hours per week on expense reports and experience faster reimbursement cycles.
Key Benefits
- SmartScan accurately captures 95% of receipts.
- Automate corporate card reconciliation, saving 10+ hours monthly.
- Streamline approval workflows for faster reimbursements.
- Integrate with over 7,000 accounting software options.
Pricing
- Free: $0
- Collect: $5
- Control: $9
Pros
Cons
What is Docyt?
Docyt is like having a super-smart assistant for your accounting.
It uses special AI to do a lot of the heavy lifting.
Think of it as a tool that connects to your bank and credit cards and automatically sorts your transactions.
Also, explore our favorite Docyt alternatives…
Tired of manual bookkeeping? Docyt AI automates data entry and reconciliation, saving users an average of 40 hours per month.
Key Benefits
Docyt has some really cool things it can do:
- It can automatically pull data from 10+ different places, like your bank and credit cards.
- It uses smart technology to understand your documents with 99% accuracy.
- You can see all your important financial info in 1 easy-to-use spot.
- It helps you work with your team and share info easily with unlimited users on some plans.
Pricing
Docyt has different ways you can pay, depending on what you need:
- Impact: $299/month
- Advanced: $499/month
- Advanced Plus: $799/month
- Enterprise: $999/month
Pros
Cons
Feature Comparison
Let’s dive deeper into how Docyt and Expensify compare on key accounting features.
We’ll explore their strengths and weaknesses across various accounting workflows to help you pick the best accounting solution for your business.
1. Automation & AI Capabilities
- Docyt: This platform truly shines with its AI automation. Docyt uses advanced AI to automate much of your back-office and bookkeeping tasks. It learns your business patterns to reduce manual data entry significantly, aiming for high accuracy in categorization and reconciliation.
- Expensify: Expensify also uses automation, especially through its SmartScan technology. This AI-powered feature streamlines receipt capture and expense reporting. While excellent for expenses, its automation is more focused on the front-end of financial management compared to Docyt’s broader accounting workflows.
2. Expense Management & Receipt Capture
- Docyt: Docyt provides comprehensive expense management.1 It uses AI automation to capture digital receipts and automatically categorize expenses, reducing manual effort. This helps you keep your expenses organized and audit-ready.
- Expensify: Expensify is famous for its SmartScan.2 You can snap a picture of any receipt, and it extracts the key details, reducing manual input. It makes tracking individual expenses incredibly easy and efficient.
3. Real-time Financial Reporting & Insights
- Docyt: Docyt provides real-time financial reporting. You can gain instant visibility into your financial health and profitability with up-to-the-minute reports. It can also generate roll-up financial statements for multiple business locations, giving you deep insight.
- Expensify: Expensify offers good visibility into spending patterns. Its reports help you understand where money is going. While it provides useful insight, it might not offer the same depth of real-time financial insights or multi-entity financial statements as Docyt.
4. Multi-Entity & Scalability
- Docyt: If you manage multiple business locations or entities, Docyt provides features for consolidated financial statements. It’s built to handle complex inter-entity transactions and give you a roll-up view of your entire financial health.
- Expensify: Expensify is scalable for various business sizes, from freelancers to larger organizations. However, its core strength lies more in individual expense management rather than complex multi-entity accounting workflows and consolidation.
5. Integrations
- Docyt: Docyt provides integrations with popular accounting solutions like QuickBooks, as well as POS systems and other ERP platforms. This helps to streamline data flow across your different business tools.
- Expensify: Expensify integrates well with major accounting solutions like QuickBooks, Xero, and NetSuite. This makes it easy to sync your expense data directly into your general ledger.
6. User Experience & Accounting Workflows
- Docyt: Docyt aims to streamline accounting workflows through heavy AI automation. Its advanced accounting features might have a slightly steeper learning curve initially, but it promises significant time savings once mastered.
- Expensify: Expensify is known for its user-friendly interface. It’s designed to be intuitive for employees submitting expenses, making the accounting workflows for expense reporting very smooth and easy to adopt.
7. Bill Pay & Invoicing
- Docyt: As part of its comprehensive accounting workflows, Docyt provides features for bill pay and managing the invoice process. It helps automate accounts payable, reducing manual data entry and ensuring timely payments.
- Expensify: Expensify also offers invoice creation and bill payment capabilities. It allows you to send invoices and track payments within the platform, helping to streamline your receivables.
What to Look for When Choosing Accounting Software?
- Integration with existing tools: Does it connect with your current POS, CRM, or ERP systems?
- Scalability for growth: Can it handle more users or business locations as you grow?
- Automation level: How much manual data entry does it truly eliminate?
- Reporting capabilities: Does it offer the specific insight and financial statements you need?
- Ease of use: Is the interface intuitive for your team, reducing training time?
- Customer support: What kind of help is available when you face issues?
- Security features: How does it protect your sensitive financial data entry?
- Cost vs. Value: Does the accounting solution provide good value for its price, considering its accounting features and potential time savings?
- Mobile access: Can you manage finances on the go?
Final Verdict
After looking closely at both Docyt and Expensify.
We pick Expensify as the better all-around choice for most businesses.
Here’s why: it’s incredibly easy to use, especially for managing daily expenses and receipts.
Its SmartScan feature is a real time-saver, simplifying a task many people dread.
While Docyt offers powerful AI for deeper bookkeeping.
We believe its user-friendly design and strong focus on quick reimbursements make it a winner for streamlining your financial process.
More of Docyt
- Docyt vs Puzzle IO: Puzzle IO offers robust AI automation for data analysis.
- Docyt vs Dext: Dext focuses on automated receipt processing and data extraction.
- Docyt vs Xero: Xero is a comprehensive cloud-based accounting solution with strong bank feeds.
- Docyt vs Synder: Synder specializes in e-commerce reconciliation and sales channel integration.
- Docyt vs Easy Month End: Easy Month End streamlines closing processes for faster books.
- Docyt vs RefreshMe: RefreshMe provides personal finance tracking and budgeting tools.
- Docyt vs Sage: Sage offers diverse accounting features for various business sizes.
- Docyt vs Zoho Books: Zoho Books provides an affordable, integrated financial management suite.
- Docyt vs Wave: Wave offers a free accounting solution for small businesses and freelancers.
- Docyt vs Quicken: Quicken is a personal finance manager, not a business accounting solution.
- Docyt vs Hubdoc: Hubdoc automates document collection and data entry for accountants.
- Docyt vs QuickBooks: QuickBooks is a widely used accounting solution for small to mid-sized businesses.
- Docyt vs AutoEntry: AutoEntry focuses on automated data entry and document processing.
- Docyt vs FreshBooks: FreshBooks excels in invoicing and time tracking for service businesses.
- Docyt vs NetSuite: NetSuite is a comprehensive ERP system for larger enterprises.
More of Expensify
- Expensify vs Puzzle IO: Puzzle IO focuses on advanced AI automation for financial data analysis.
- Expensify vs Dext: Dext excels at data entry automation and pre-accounting document collection.
- Expensify vs Xero: Xero is a full cloud accounting solution offering broad financial management.
- Expensify vs Synder: Synder specializes in reconciliation for e-commerce and payment platforms.
- Expensify vs Easy Month End: Easy Month End is built to streamline the month-end close process.
- Expensify vs RefreshMe: RefreshMe focuses on employee recognition and engagement, not direct accounting.
- Expensify vs Sage: Sage offers a wide range of accounting features for diverse business needs.
- Expensify vs Zoho Books: Zoho Books provides a comprehensive yet affordable financial management suite.
- Expensify vs Wave: Wave offers free accounting solutions for small businesses and freelancers.
- Expensify vs Quicken: Quicken is a personal finance manager, not designed for business accounting workflows.
- Expensify vs Hubdoc: Hubdoc automates document collection and data entry for easy syncing.
- Expensify vs QuickBooks: QuickBooks is a popular all-in-one accounting solution for small businesses.
- Expensify vs AutoEntry: AutoEntry specializes in automated data entry from various financial documents.
- Expensify vs FreshBooks: FreshBooks is ideal for invoicing, time tracking, and project management.
- Expensify vs NetSuite: NetSuite is a powerful ERP system for large-scale financial management.
Frequently Asked Questions
Is Docyt better for large accounting firms?
Docyt offers strong AI automation for comprehensive accounting workflows, making it suitable for firms managing multiple business locations and complex financial data. Its ability to generate roll-up financial statements and provide deep real-time financial insights can be a significant advantage for larger operations seeking to streamline back-office and bookkeeping.
Can Expensify handle invoicing and bill payments?
Yes, Expensify includes accounting features for creating and sending invoices. It also allows for managing bill payments, helping to streamline your accounts payable and receivable processes. While primarily known for expense reports, its capabilities extend to cover these basic financial management needs.
Which software is easier for new users to learn?
Expensify generally has a lower learning curve due to its focused design on expense reporting and intuitive mobile app. Docyt, with its broader AI automation for full accounting workflows and back-office and bookkeeping, might require a bit more initial setup and learning.
Do both Docyt and Expensify integrate with QuickBooks?
Yes, both Docyt and Expensify offer robust integrations with popular accounting solutions like QuickBooks. This ensures that your expense and financial data can flow seamlessly between the expense management platform and your primary accounting system, reducing manual data entry and improving reconciliation.
How do these tools improve financial visibility?
Both tools significantly improve visibility into your financial health. Docyt provides real-time financial insight into profitability and overall business performance, while Expensify offers clear reports on spending habits. They help you gain instant understanding of where your money goes, supporting better decision-making.
