Microsoft is testing a new expense-tracking application, called Spend, for iOS devices. The new app was developed by some of the people in Mobile Data Labs – the makers of MileIQ mileage-tracking app - a company Microsoft acquired a few years ago.
The Spend app, which arrived on the App Store on Thursday, is designed to track user’s business and/or personal expenses for reimbursement or taxes. The software app offers features like the ability to take photos of receipts, expense categorization features, and reporting. And unlike other expense trackers, Spend includes automated tracking and matching, and a user interface for working with your receipts.
It begins by automatically tracking all your expenses from a bank account or credit card linked to the app. These expenses can then be swiped to mark them as personal or business. Spend lets you add notes to these purchases, or add extra tags for added organization. In addition to that, you can also match receipts to purchases and customize expense categories. Furthermore, Spend generates a timely report about their expenses in a spreadsheet or as a PDF document.
Spend is considered to be one of Microsoft’s Garage incubation projects and it appears to be having no intentions to take on expense tracking industry giants, like Expensify or SAP-owned Concur, for example. In simple words, a Microsoft Garage app can be commercialized or sometimes simply discontinued based on the feedback and demand.
The downloadable Spend preview works on iOS 10.0 or later and works on iPhones, iPads, and iPod touch devices.