Rydoo Expense Management Review and Pricing 2021

Rydoo is an expense management software that can process and reimburse business expenses. It has features that can help you streamline your expense processing and approval without the need for excessive paperwork and labor hours. With Rydoo, you can submit and approve expenses through the web or on the go via the app. Rydoo offers plans that start at $7 per month if billed annually.

What We Recommend Rydoo for

Rydoo is one of our best business expense tracker apps for third-party integrations. What we like about Rydoo is its ability to integrate with enterprise resource planning (ERP) and accounting software. Companies of different sizes will like Rydoo because they can link easily to their accounting software like QuickBooks and Xero or ERP systems like Oracle and SAP. Its integration features make Rydoo flexible to your company’s accounting system.

Rydoo Is Especially Good for

• Those who want a detailed expense management app: Rydoo organizes your expenses based on users, categories, and status. You can manage your expenses easily, depending on what information you want to see and analyze.
• Those who report expenses in multiple currencies: If your business has foreign operations or if you hire overseas employees, Rydoo can accept expenses in multiple currencies. More so, you can set expense rules by country to control expenses based on the conditions you set.
• Those looking for affordable pricing plans: Rydoo is the best choice for inexpensive expense management software. With its affordable annual plans, you can save hundreds of dollars without sacrificing much-needed features like expense workflow approvals and integration features.

Rydoo Is Not a Good Fit for

• Those who want a built-in reimbursement system: Rydoo has many expense management and processing features, but it doesn’t have a reimbursement system. Once you approve an expense, you have to go to another app or manually reimburse expenses. For those that want the ability to process reimbursements electronically, Expensify is an excellent alternative because it shares most of Rydoo’s core features plus it has a direct deposit feature.
• Those who prefer to combine expense tracking and accounting: Rydoo only processes expenses, and it cannot be used as an alternative to bookkeeping apps. You can only use Rydoo to control expenses, and you still need to export expense data to your accounting software or ERP system. If you want to combine expense management and bookkeeping, we ranked QuickBooks Online as the best overall small business accounting software.
• Those who want a dedicated expense card: Even though Rydoo accepts credit cards, it doesn’t have a dedicated expense card like Emburse Cards. In Emburse Abacus’ Professional and Enterprise plans, you can issue Emburse Cards to employees that apply expense policies automatically. Moreover, Emburse Abacus has a reimbursement system to help you reimburse employees without going to a third-party app.

Rydoo Pros and Cons

Rydoo Pricing

Rydoo Features

Rydoo’s main features focus on expense processing. You can use its features to create workflows to organize and structure processing. In using Rydoo, there are two roles: personal and approver. Let’s check out these roles.

Personal Role

Users assigned a personal role are allowed to submit and track their expenses.

Dashboard

Once a user logs in to the web version of Rydoo, they’ll see the dashboard. The dashboard shows a summary of information about the user’s expenses. Moreover, they will also see upcoming bookings that have been logged using Rydoo.

Personal Role Dashboard on Rydoo
(Source: Rydoo Tutorial Videos)

In the dashboard, you can see expenses classified based on their status. Each status has a corresponding amount to show the expense to be accounted for along the workflow.

Modes of Submitting Expenses

There are different modes of submitting an expense in Rydoo. At the upper right corner, click Add an expense. A drop-down menu will appear and show the ways of submitting an expense:

Different Ways to Submit Expenses on Rydoo
(Source: Rydoo Tutorial Videos)

• Upload: You can upload a receipt directly from your computer.
• Email: Digital receipts sent to your inbox can be forwarded to Rydoo by forwarding them to receipts@rydoo.com.
• Manual: A form will appear so that you can fill in the expense manually.
• Mileage: You can input miles and let Rydoo apply the standard mileage rates.
• Per diem: Employees on business trips can submit per diems based on the lists uploaded in Rydoo.

Submitting via Mobile

Aside from its web version, users can also submit expenses using Rydoo’s mobile app. The mobile app is available on Android and iOS. A significant advantage of having the mobile app is that users can use their smartphone’s camera to capture receipts and upload them directly to Rydoo:

User Account View on Rydoo Mobile
(Source: Rydoo Tutorial Videos)

When users capture receipts, Rydoo will scan the receipts and extract the date, amount, merchant, and currency automatically. If you want to add more information, fill in the blank fields in the expense submission form:

Expense Information on Rydoo Mobile
(Source: Rydoo Tutorial Videos)

Status of Expenses

Whether on the web or mobile version, every expense has a status to keep you informed of its position in the approval workflow:

Hierarchy of Expense Status

1. To be verified: Incomplete and unsubmitted expenses
2. To submit: Complete but unsubmitted expenses
3. Submitted: Completed and submitted expenses awaiting action from the approver
4. Rejected: Expenses rejected by the approver. As a user, you will see a rejection reason
5. Approved: Submitted expenses approved by the approver
6. Controlled: This is the second level of approval that is optional. You can disable this in the settings menu.
7. Reported: Approved expenses awaiting reimbursement

Approver Role

In your company, you can set Approvers to review and approve the expenses of your employees. You can give approver roles to managers or supervisory employees. You can switch to this role by clicking Approver in the dashboard:

Dashboard

Approver Dashboard on RydooM
(Source: Rydoo Tutorial Videos)

The Approver dashboard shows the list of all submitted expenses. You can view these expenses under Expenses for Approval. As an approver, you can also see the unsubmitted expenses of employees, including your expenses.

Viewing Expenses of an Employee

If you click the name of an employee, you’ll see the summary of all expenses. The summary will provide basic information like the date, merchant, amount, type, status, and category. At the bottom right of the list, you’ll see the total amount of the expense.

Viewing expense details on Rydoo
(Source: Rydoo Tutorial Videos)

Approving and Rejecting Expenses

By clicking on the item, Rydoo will show more detailed information about the expense. As an approver, you have to check if the expense complies with your company policies, such as limits and documentation requirements. Moreover, you can save time by setting expense policies to limit or remind submitters to comply with all the requirements.

When the approver rejects the expense, they must state the reason for rejection. By clicking the Reject button, a pop-up window will prompt the approver to include a reason for rejection. Below the rejection reason, approvers can add additional notes or instructions:

Approving an Expense on Rydoo
(Source: Rydoo Tutorial Videos)

Rejecting an Expense and Stating the Rejection Reason
(Source: Rydoo Tutorial Videos)

Approving and Rejecting via Mobile

If the approver is on a business trip, they can keep up with expense submissions via the mobile app. Just like the web version, approvers can scrutinize and review expenses. It’ll be easier and more comfortable to approve and reject expenses this way because you don’t need to open your laptop or computer all the time. Through your smartphone, you can manage company expenses wherever and whenever:

Swipe Right To Approve Expenses on Rydoo Mobile
(Source: Rydoo Tutorial Videos)

Swipe Left To Reject Expenses on Rydoo Mobile
(Source: Rydoo Tutorial Videos)

When you reject an expense on mobile, the app will also require you to include a reason for rejection.

Reminding Employees to Submit Expenses

If there are unsubmitted expenses, you can remind employees to submit them. This feature is helpful if your company’s workforce is working from home:

Swipe Left To Reject Expenses on Rydoo Mobile
(Source: Rydoo Tutorial Videos)

To remind employees, you have to click unsubmitted expense then head to Actions. Finally, click Send Reminder.

Expense Policies

Another helpful feature of Rydoo is its expense rules. You can reduce the work of approvers by setting up expense rules and letting Rydoo filter out expenses that don’t comply with expense limits, minimum documentation requirements, or that have incomplete descriptions.

Dashboard and Creating Rules

The dashboard shows the list of rules you have set previously. You can edit or delete existing rules as you see fit:

Expense Rules Dashboard on Rydoo
(Source: Rydoo Tutorial Videos)

You can access expense rules in the Admin tab. On the right-side panel, click Admin and head to Expense Rules. Then, on the top right corner, click Add Expense Rule. A new window will appear where you can set the limits and applicability of the rules.

When you want to create a new rule, there are four main items you need to fill out:

Creating an Expense Rule on Rydoo
(Source: Rydoo Tutorial Videos)

1. Users: You can limit rules to a specific group or set them to everyone. Setting the rule to everyone makes the expensing rule applicable to all. For branches, the rule applies only to a particular branch of your company. Groups pertain to organizational divisions within your company, such as a finishing department or human resources (HR). Lastly, users refer to a specific employee like company president, chief financial officer (CFO), or production manager:

Setting the applicable users for expense rules (Source: Rydoo Tutorial Videos)

2. Conditions: Conditions define the scope of the rule. You can set conditions by clicking Add Condition to place a rule for particular activities.
   1. Categories: You can set a rule based on the expense category like parking, postage.
   2. Amount: You can set a rule based on a threshold amount. It can be more than, equal to, or less than a particular dollar amount. You can set this rule based on the amount per individual or frequency like per night, day, week, or month. You can also limit the condition per country, which is perfect for overseas employees.
   3. Receipt: Setting this condition checks if a receipt is attached or not.
   4. Weekend/Workweek: This condition triggers based on the option you choose. For weekends, expense rules only apply if the expense was incurred on the weekend. The same applies to the workweek.
   5. Date: Using the date condition limits submitters from submitting expenses outside the allowable period.

Setting the conditions for expense rules (Source: Rydoo Tutorial Videos)

3. Actions: Once you’ve set the conditions, you need to set up an action. Actions allow you to set a warning or a counter-measure when conditions are met. On Rydoo, you can select one of three action options :
   1. Show warning in expense: If a submitter violates an expense rule, a warning will appear when the submitter submits the expense. In this way, users can immediately ratify the expenses and save the approver some time.
   2. Auto approve or control: Auto approving and controlling expenses can help you expedite expenses. You can use this feature in fixed and recurring expenses like monthly telecommunication bills.
   3. Create counter expense: Expenses that go beyond limits can be controlled through counter expenses. A counter expense can be set to the excess amount or a fixed amount. This feature is helpful for you if you want to reimburse employees on allowable amounts.

Setting the actions on expense rules (Source: Rydoo Tutorial Videos)

4. Name & status: You set the name of the policy for easier identification.

Setting the name of the expense rules (Source: Rydoo Tutorial Videos)

Rydoo Alternatives

Bottom Line

Rydoo Expense Management is an app that can help your business manage and process expenses easily and efficiently. Rydoo can help your company report expenses properly because it has application control features that prevent employees from submitting expenses violating expense rules. However, Rydoo doesn’t have a reimbursement system, so you’ll have to process the checks or automatic deposits elsewhere. Overall, Rydoo works best for expense management and control, especially if your business has an accounting software or ERP system.