About Veryfi Receipts OCR & Expenses

Veryfi is an expense report solution designed to help businesses streamline processes related to receipt collection, bank reconciliation, job costing, document management and more. It provides mobile applications for Android and iOS devices, enabling professionals to capture receipts and extract relevant data using optical character recognition (OCR), artificial intelligence (AI) and machine learning (ML) technologies. Veryfi allows property investors to track the expenses and income of customers or projects and store documents in a centralized repository. Managers can schedule employees and handle clients' reconciliation, bank feed and other details on a unified platform. Additionally, accountants can secure personally identifiable information (PII) in compliance with the Health Insurance Portability and Accountability Act (HIPAA) and General Data Protection Regulation (GDPR) standards. Veryfi is available on monthly or annual subscriptions and support is extended via live chat, email, video tutorials, documentation and FAQs.
Veryfi Receipts OCR & Expenses Software - Veryfi expenses
Veryfi Receipts OCR & Expenses Software - Veryfi create expense report
Veryfi Receipts OCR & Expenses Software - Veryfi reports
Veryfi Receipts OCR & Expenses Software - Veryfi documents
Veryfi Receipts OCR & Expenses Software - Veryfi bank account transactions
Veryfi Receipts OCR & Expenses Software - Veryfi bank feeds
Veryfi Receipts OCR & Expenses Software - Veryfi expenses - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi create expense report - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi reports - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi documents - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi bank account transactions - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi bank feeds - thumbnail

Veryfi Receipts OCR & Expenses pricing

Veryfi Receipts OCR & Expenses has a free version and offers a free trial. Veryfi Receipts OCR & Expenses paid version starts at US$15.00/month.

Starting Price:
US$15.00/month
Pricing Details:
- Unlimited document scans - Unlimited reporting & insights - Vehicle logbook tracking - Sync to cloud accounting (eg. QBO, IIF) - Backups to cloud storage - Bank feeds & reconciliation - Bills fetch via veryfi.cc - Pain-free Data Migration - 30 day money back guarantee! and much more: https://www.veryfi.com/full-features/
Free Version:
Yes
Free trial:
Yes

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Veryfi Receipts OCR & Expenses Reviews

Feature rating

Value for Money
4.7
Functionality
4.8
Ease of Use
4.8
Customer Support
4.8
5 reviews of 145 View all reviews
Matthew S.
  • Industry: Veterinary
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 15/10/2018

Excellent Support

I can't say enough how responsive, friendly, and efficient their customer/technical support has been.

Pros

Not only is the app fantastic, easy to organize and easy to use, but technical support and customer service is A+++! Any issues at all are handled promptly and professionally. It's premium features are also really reasonably priced!

Cons

The OCR and AI could use some work. I constantly am having to update the vendor due to missing or wrong information. I also had a bit of an issue importing documents from my previous solution. They all came in, but the information was lost unfortunately. It could have been done if Neat would allowed multiple CSV exports of my PDF Files, so it's not really Veryfi's fault. Neat secures you as a customer as if your documents are a prisoner. Veryfi helped free me from them!

Response from Veryfi

Matthew, thank you for your detailed review of Veryfi inc. your experience coming onboard from another provider. Love the feedback and ratings you left us. Thank you so much for the ongoing support :-)

PS. Check out our referral program https://hub.veryfi.com/referrals/

Best, Ernest (cofounder)

Replied 24/10/2018
Linda L.
  • Industry: Real Estate
  • Company size: Self Employed
  • Used Monthly for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
5

5
Reviewed on 3/12/2021

Good product, responsive customer service

Easy to take photos and load receipts. I liked being able to categorize with the names that I preferred to use for my expenses. I could add "tags" too which was helpful if I wanted to track a particular client for example and determine how much I spent on that person, or that property, for example. *Please note that while I selected my use as "monthly" I was using it monthly and then didn't use it for about a year, and I'm wanting to get back to it (I've been paying for it and QB this whole time and not ieither one, fully).

Pros

I used this software for a couple of years, and the only issues I had were logging income so that an accurate P&L could be created. The developers worked with me and my CPA to correct the issues we were having and I really appreciated their responses to our concerns. Overall, my CPA recommended that I switch to QuickBooks. I did, but it's been not easy to use, has poor customer service and is overpriced and too "busy/cluttered" for what I need which is simplicity because my business is simple. I wish I had kept up with Veryfi's expense tracker, because changing programs is not easy to do even in a simple business. I would recommend Veryfi for sure! I think they even resolved the issues I had in the past.

Cons

Back when I was using it regularly, the income option was reversing numbers and not accurately representing P&L reports. I think the developers corrected this since then.

Alternatives Considered

Quickbooks Online

Reasons for Choosing Veryfi Receipts OCR & Expenses

I started with Veryfi, switched to QB, then I'm wanting to transition back. As I said above, QB support is nearly absent or not relevant to my business and I only needed a little bit of help getting things set up but they help was simply not there and the program while it had it's benefits, was not all that great.

Switched From

Quickbooks Online

Reasons for Switching to Veryfi Receipts OCR & Expenses

Simplified program.
Maddie T.
  • Industry: Information Technology & Services
  • Company size: 10,000+ Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

4
Reviewed on 10/05/2022

Automated and simple-to-use, compatible with practically everything

After using it for a couple of years, the only difficulty I had was accurately recording revenue to construct a P&L. My CPA and I had a number of difficulties with the software, and the developers worked with us to fix them. In general, I was encouraged to make the transfer to QuickBooks by my CPA.

Pros

The quickest and most efficient approach to keep track of your receipts is to scan them as soon as you receive them. Excellent OCR and alignment correction are provided by Veryfi. Taking images and uploading receipts is simple. It was convenient to be able to utilize the spending category names that I desired. If I wanted to monitor a specific customer, for example and figure out how much money I spent on that individual, I could add "tags" to my spreadsheet.

Cons

Income was inverting figures and not appropriately displaying P&L reporting back when I used it frequently Since then, I believe this bug has been fixed.

Jake D.
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
4

4
Reviewed on 11/11/2016

Solid Optical Reading

I have not used IQBoxy for long, but I do have some clients using it to track their business expenses. They take photos of their receipts and IQBoxy converts them to digital information and syncs with Xero Accounting Software.

So far, the information the software gathers from the receipts has proven to be both accurate and reliable, which is more than can be said for some other software I've used. It is able to pull the vendor name, date, amount, etc. and accurately sync it with Xero. I also like the expense reports and reminders to get your receipts entered. The expense reports can be printed from your computer to submit to your accountant or bookkeeper.

The one area that I find challenging is the integration with Xero. Though it transfers information well, the workflow still requires more steps than entering a transaction. Essentially, it creates an unapproved Bill in Xero for your accountant to approve (create the bill), then record a payment (or you can use the Expense Reimbursement feature of Xero the same way). To set the account and approve the bill, then create a payment to actually hit your general ledger is more steps than just creating a spend or receive money transaction. For that reason, the integration might not be the right solution for everyone, but overall, the software is accurate and helpful for tracking business expenses and keeping your receipts organized.

Pros

Accuracy in reading receipts.

Cons

Integration steps (which may not really be unique to this software).

Response from iqBoxy

Jake, thank you for your great feedback and support.

We now have web app tool for accountants & bookkeepers to manage your clients from the 1 place. Check it out => https://www.veryfi.com/accounting-practice-management/

PS. IQBoxy has a new name! VERYFI ~ Read the announcement => https://www.veryfi.com/news/iqboxy-is-now-veryfi/

Best, Ernest (cofounder)

Replied 7/12/2017
Daniel R.
  • Industry: Hospitality
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 17/08/2021

The app I use every day. Highly recommend!

I used to have to spend an hour each month matching a shoebox filled with receipts to my credit card bills. Now I don't even have to keep the paper receipts. I simply scan them with Veryfi, and in seconds, i have a digital copy with all the important info already populated into categories (payment type, expense category, merchant, date, etc). Then at the end of the month, their intuitive web based platform matches all my expenses to any bank feeds I have linked. What used to take me an hour now takes minutes!

Pros

Veryfi is very easy to use and has some great features. I love how easy it is to scan paper store receipts, or email web based receipts. It uses the latests security protocols (Yodlee handles all the bank/credit card integrations, they use 2FA to log in) and has saved me a ton of time managing my expenses.

Cons

In cases where a receipt has multiple expenses which are considered separate purchases (Amazon does this a lot), the software requires multiple steps to separate them. When I'm matching credit card charges from linked accounts to my Veryfi receipts, I have to leave the bank feed section, go into the documents section, and clone the receipt to separate the charges, then go back to the bank feed section to match the receipts. I hope they can design a shortcut within the bank feed to accomplish this, to cut down on steps.

Alternatives Considered

Expensify

Reasons for Choosing Veryfi Receipts OCR & Expenses

Both of these platforms eventually phased out and Veryfi actually offered an import feature so that I wouldn't lose my receipt data from my previous app. That combined with its features made it a no-brainer.

Reasons for Switching to Veryfi Receipts OCR & Expenses

Price and the ability to import receipts from my previous app.

Response from Veryfi

Daniel, Thank you for your nice feedback and support.

I'd love to help you out with the Amazon receipts. Please email [email protected] and let's explore what we can improve on our end to make this work.

Best,
Ernest (cofounder)

Replied 1/09/2021

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