Is Veryfi Receipts OCR & Expenses right for your business?
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What is 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 ... read more
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User Review Highlights
4.87
145 Reviews
Ease-of-use
out of 5Customer Support
out of 5Value for money
out of 5Functionality
out of 5"This software makes financial administration so much easier and less time consuming. It is a pleasure to us and this powerful technology will make your life a lot easier and give you your time back."
"I love that it will automatically match up my business receipts with my transactions in Quickbooks, bookkeeping is a breeze."
"Just testing but it seems like the perfect solutions for a small distributed business like us to collect and categorize expenses. Intuitive easy to use interface."
"The only trouble I see is that I didn't get this app sooner."
"The 300 receipt limitation is bothersome for new users, but I understand Veryfi rationale."
"The app looks a little ugly. Maybe that's just the nature of boring accounting software but it's a minor quibble."
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How much does Veryfi Receipts OCR & Expenses cost?
- 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/
Starting price
$15.00 per month
Free trial
Available
Free version
Available
Which features does Veryfi Receipts OCR & Expenses offer?
Core features:
AccountingAccounts PayableAccounts ReceivableActivity TrackingAPIApproval Process ControlAudit ManagementAudit TrailBank ReconciliationBilling & InvoicingShow more features +
Other Top Recommended Accounting Software
How easy is Veryfi Receipts OCR & Expenses to use and deploy?
Veryfi Receipts OCR & Expenses supports multiple deployment options, including: Cloud, SaaS, Web-based, iPhone, iPad, Android.
4.87/5 out of 145 Reviews
Showing 1 - 5 of 145 reviews

Matthew
Verified reviewer
Company size: 2-10 employees
Industry: Veterinary
Time used: Less than 12 months
Review Source: Capterra
This review was submitted organically. No incentive was offered
October 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 October 2018
Linda
Company size: 1 employee
Industry: Real Estate
Time used: More than 2 years
Review Source: Capterra
This review was submitted organically. No incentive was offered
December 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.
Reasons for choosing Veryfi Receipts OCR & Expenses
Simplified program.
Reasons for switching to 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.

Maddie
Verified reviewer
Company size: 10,000+ employees
Industry: Information Technology and Services
Time used: More than 2 years
Review Source: Capterra
This review was submitted organically. No incentive was offered
May 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.
Reasons for switching to Veryfi Receipts OCR & Expenses
I appreciate how simple it is to capture a receipt, how quickly it can be processed, and how accurate it is.
Jake
Company size: 2-10 employees
Industry: Accounting
Time used: Less than 6 months
Review Source: Capterra
November 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 December 2017
Daniel
Company size: 1 employee
Industry: Hospitality
Time used: More than 2 years
Review Source: Capterra
This review was submitted organically. No incentive was offered
August 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.
Reasons for choosing Veryfi Receipts OCR & Expenses
Price and the ability to import receipts from my previous app.
Reasons for switching to 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.

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 support@veryfi.com and let's explore what we can improve on our end to make this work. Best, Ernest (cofounder)
Replied September 2021
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