Everlance
Is This Your Business?Author: Jenna Vasquez
Everlance is an expense management software that specializes in mileage tracking. The company has different subscription pricing options for businesses and self-employed workers. Everlance also has a lot of tools and resources for independent contractors to track expenses, record tax deductions, and calculate tax percentages.
Top Ranked Companies
The Good
- Mileage Tracking
- Expense Tracking
- Business Pricing
- Self-Employed Pricing
- 7-Day Free Trial
Mileage Tracking
Using GPS satellites, Everlance tracks a driver’s location to track mileage. The app also detects frequent stops and immediately classifies those as work stops. Mileage gets uploaded to the cloud so that customers can access mileage reports at any time.
Everlance offers Fixed and Variable Rate (FAVR) and Cent per Mile (CPM) reimbursements. FAVR reimbursements are based on the make and model of the car and the zip code. CPM is the IRS standard mileage rate. The cost of these two reimbursement types may vary, depending on the subscription chosen by the customer.
Expense Tracking
In addition to mileage tracking, Everlance also has features for expense management. Subscribers can synchronize their card and bank account with their Everlance account. Everlance will then track expenses and categorize expenses as work or personal.
Using the expense tracking feature, subscribers can view where their money is being spent and create rules for recurring expenses. This way, as a recurring expense is recorded, it is automatically classified in the correct category.
Business Pricing
Businesses can choose from three different subscription plans from Everlance. Each subscription adds-on to the one listed before it.
- Free — Each user can record 30 automatic trips per month. This subscription includes expense tracking and receipt uploads, unlimited users, reimbursement reports, data exports, reports, analytics, and more.
- Business ($120 per user per year) — Features unlimited automatic trip detection. Expense tracking with bank and credit card sync, trip auto-classification, free manager accounts, VIP customer support and training.
- Enterprise and FAVR (receive quote for price) — Includes all of the above features in addition to ERP integrations, insurance verification, and a dedicated onboarding and customer success manager.
The prices listed above are the annual prices. There is also an option for monthly pricing, but it is slightly more expensive. With annual billing, it is as if subscribers get two months free.
Self-Employed Pricing
Everlance is an even better deal for those who are freelancing, independent contractors, or self-employed. Those in the self-employed category qualify for a free trial of the premium subscription.
- Free — Similar to the business option, users can track 30 automatic trips per month. There is unlimited manual start and stop trip tracking, expense tracking, unlimited receipt uploads, and IRS compliant data reports.
- Premium ($5 per month, billed annually) — Subscribers get unlimited automatic trip detection, automatic expense tracking, bank or credit card sync, trip auto-classification, and tax deduction finder.
- Premium Plus ($10 per month, billed annually) — Includes all parts of the Premium plan, in addition to customized one-on-one training and VIP customer support.
Similar to the business subscription plans, self-employed subscribers get significant savings if they enroll in the annual billing option, rather than the monthly billing option. The prices listed above are the annual billing prices. Monthly billing options can be viewed on the Everlance website.
7-Day Free Trials
Free trials are available for the Premium plan and the Premium Plus plan. Free trials are seven days and only apply to these two self-employment plans. In theory, a business could use the 7-day trial to determine if Everlance is worth enrolling in. Should you choose to do this, remember that there is variation in what the self-employed plans offer and what the business plans offer.
The Bad
- Non-Refundable Subscriptions
- Inconsistent Automatic Tracking
- Specific Niche
Non-Refundable Subscriptions
While customers are able to plan ahead for cancellation, Everlance does not refund subscriptions if cancelled early. For this reason, Everlance encourages its customers to enroll in a monthly subscription first, then eventually moving to an annual subscription plan.
Inconsistent Automatic Tracking
Everlance has received many positive reviews online. However, one common pain point for previous customers was the inconsistency of the automatic mileage tracking. Customers complain that the app attempts to track them any time they drive anywhere. Many said that this caused some errors in their mileage reporting.
Reviewers also indicated that it was difficult for them to reclassify a trip once it had been put in the personal or work category. For instance, if a customer accidentally classified their drive as a work trip, they had great difficulty changing it back to a personal trip.
Specific Niche
Everlance’s software is definitely geared toward drivers — especially the free version. Other financial tools like expense tracking, bank and credit card synchronization, and the deduction finder would be suited to more businesses, but these features are only offered in the paid subscription.
The Bottom Line
Based on the subscription plans, it seems as though Everlance is more tailored for those who are self-employed or freelancing. Everlance’s monthly pricing for businesses is a bit more expensive in comparison to other expense management software rates.
With a distinct emphasis on mileage tracking, Everlance would be best fitted to a company with a lot of travel expenses. The automatic tracking feature may be somewhat inconsistent, but many users have had success with Everlance’s manual mileage tracking.
