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Tight’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.

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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 Tight integrates seamlessly with Plaid. Alternatively, you can integrate using MX or push your user’s transaction info directly into the Tight API. The Tight API will then automatically categorize all transactions and create full double-entry general ledger transactions for every transaction in the correct accounts. If your users are commingling business and personal expenses on the same bank / credit card accounts, then they can also specify the classification of a specific transaction to personal.
📘 Custom data sources If you have a custom data source (e.g. if you are developing software for a financial institution), the Tight API team would be glad to help you securely expose that data in a way that the Tight API can consume it. The Tight API team has established custom interfaces with banks, making the integration process turn-key for our partners. Don’t hesitate to email us at api@tight.com.

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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 by the Tight API. All the financial statements are automatically handled for your users. Tight’s proprietary algorithms, which leverage the user’s business type, accountant best practices, and the behavior of similar businesses within the Tight API 1.3M+ users, can pick the most likely category for nearly all expenses while also suggesting rules to automate your users’ workflows. Tight’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. Tight’s Expense Tracking API can even fast forward your users through 50% of the tax filing process.