Microsoft is out with a new iOS app that looks to automate keeping tabs on business expenses. Coming from the same team behind the mileage tracking app, MileIQ, Spend is designed to make expense and receipt tracking easier than ever.

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As spotted by TechCrunch, Microsoft launched Spend yesterday on iOS. It’s actually a product from the company’s incubator program, Microsoft Garage.

The new app looks like it has a clean, simple UI and also features 256-bit SSL encryption for security.

Beyond the basic expense tracking features, Spend is built on the idea of automating much of the process. Microsoft even says the app can kick out detailed expense reports in “seconds.”

Spend automatically tracks your expenses by syncing purchases from cards and bank accounts. You can quickly classify purchases as business or personal with a swipe. Expenses will be automatically categorized for you and you can add custom tags for extra organization.

Spend makes expense reporting a breeze. You get fast access to your expenses, as well as summaries on a weekly, monthly or custom basis. It takes seconds to create robust expense reports as spreadsheets or PDFs. Email or print them for easy sharing with your tax professional or workplace.

Spend highlights:

  • Automatic expense tracking for reimbursements or taxes
  • Advanced receipt tracking and receipt management
  • Real-time expense information at your fingertips
  • Automatic receipt-matching to expenses
  • Intelligent features that will save you time through automatic expense categorizing
  • Reports that are compatible with major accounting, expense management software

Spend is a free download from the App Store and appears to only be available in the US for now.

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