Hurdlr's Expense Tracking API makes it easy for you to provide your users with expense-related functionality that fits their exact use case, while keeping the pathway open to an infinite amount of more advanced use cases as you drive further into your roadmap.
1. How it works
The first step to using the Expense Tracking API is to connect your data sources. Many FinTech companies already use Plaid for aggregating transactions, so Hurdlr integrates seamlessly and effortlessly with Plaid. Alternatively, you can integrate using MX or push your user's expense info directly into the Hurdlr API.
The second step involves classifying that expense information (e.g. as business expenses, personal expenses, etc.).
Custom data sources
If you have a custom data source (e.g. if you are developing software for a bank), the Hurdlr API team would be glad to help you securely expose that data in a way that the Hurdlr API can consume it. The Hurdlr API team has established custom interfaces with banks, making the integration process turn-key for our partners. Don't hesitate to email us at [email protected]
2. What it enables
The Expense Tracking API enables you to automate a once cumbersome process for your users' benefit.
If your user is a business owner, their transactions will automatically be categorized into categories that make sense to their specific business (e.g. an Uber driver's expense might be categorized as "Car Wash"). All the mappings to the various tax reports are automatically handled for your users. All the financial reports are automatically handled for your users.
Hurdlr's proprietary algorithms, which leverage the user's business type, accountant best practices, and the behavior of similar businesses within the Hurdlr app's 700k+ users, can recommend what expenses are likely to be deductible (for users who commingle).
Additionally, Hurdlr's Expense Tracking API learns each of your users' behaviors, automating processes that were traditionally thought of as cumbersome, such as how to classify specific expense transactions.
Hurdlr's Expense Tracking API can even fast forward your users through 50% of the tax filing process.
Updated over 1 year ago