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Rydoo for Appraisers
Website
https://www.rydoo.com/en/expense
What It’s Good For
Keeping track of expenses and mileage while on the go.
Cost
US$6 – US$8 monthly per user when paid annually.
Review
[fusion_dropcap boxed=”no” boxed_radius=”” class=”” id=”” color=””]T[/fusion_dropcap]here are lots of products to manage business expenses, but one I’ve found to be useful is Rydoo Expense. The product became Rydoo after Sodexo acquired Xpenditure. They enhanced the product and rebranded it in June, 2018. Simplicity is the key with any expense management tool. Because if it’s not simple, the extra steps are easy to forget and by the end of the month, there are undocumented expenses, missing receipts and the accounting team is annoyed with you.
Never Carry Another Paper Receipt
Rydoo makes it easy to take a picture of a receipt, jot down the purpose and be done. Since I’m not part of a large corporation, my company credit card is used for other purchases from trade show supplies to online marketing tools. Rydoo allows you to email a receipt too, or as a last resort, you can log into the web app and upload a PDF image of a receipt. But, that’s slow so who wants to do that?!
Mileage for business travel is easy enough – enter start and end locations or just manual entry of the miles. Most of my travel is by plane, so if I did a lot of car travel, getting a product like Zubie to log miles automatically would probably be easier. The Quickbooks mobile app also does milage tracking which I plan to review in a future blog.
A unique feature that has made tracking costs easier is the ability to create projects and trips. So, for those that charge some expenses to clients, a project label is an easy way to group them together. Likewise, grouping all expenses together in a trip or even a credit card billing cycle might be useful too.
Helps The Accounting Team
For our accounting team, the process works pretty well too. Rydoo creates easy to use reports, and they can set up alerts to regularly sync expenses with the accounting system to avoid a bulk task at the end of every month. In fact, in my office, we don’t file monthly expense reports anymore. Now, they are processed on a continuous basis thanks to Rydoo.
Almost Perfect
The one feature that I miss is integration with airlines and Uber (again, my typical business travel mode is airplane). It would be even better if the flights, baggage fees and Uber rides would just auto-populate. There’s only a limited number of companies and other companies offer it. But overall, Rydoo Expense is a great combination of features for our business.
Just to Note
As with all products we discuss at realquantum, we don’t get any compensation from the companies. In fact, you might find another expense management product that works better for you. If so, let us know! Others might find it useful to try as well. the important thing is that appraisers have access to good information about products that make them more productive and successful – because at realquantum that is our goal.
And, the one product that is proven to make commercial real estate appraisers more successful is realquantum. Ready to take your business to the next level? Contact us for a demo today.
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