Receipt Bank also integrates with most popular accounting software, including Xero, QuickBooks, FreshBooks and Sage One. It also automatically imports receipts from PayPal and Dropbox, and lets you take photos of multiple receipts at a time. You can do it using a mobile app, via web browser, via email, or automatically by hooking your credit card up to the app. Receipt Bank lets you digitize and store your receipts in pretty much any way imaginable. Price: Starts at $4.99/month Receipt Bank: if you’ve got lots of receipts Platforms: Android, iOS (iPhone), web browser If you’re looking for an app for tracking employee travel expenses, it’s hard to beat Expensify. Use the company credit card a lot? Expensify will import those expenses automatically from your card so you don’t have to go through your statements at the end of each trip. Snap pictures of your paper receipts with your mobile device, submit and be done with them.Įxpensify also automatically imports receipts from ridesharing services like Uber and Airbnb, and also has a function for managing mileage tracking. Using Expensify means you can stop stuffing receipts into your luggage while you’re on the go. If you work remotely or regularly have meetings in different parts of the world, you know post-trip expense tracking is a nightmare. Price: Starts at $12/month Expensify: For the business traveller If you’re unfamiliar with accounting, you might find QuickBooks frustrating.īut if you’re a QuickBooks pro, have a dedicated admin employee who’s willing to learn, and already use QuickBooks for your accounting, it’s definitely a worthy option. QuickBooks has more features than any other expense trackers in this list, and also requires the most knowledge, time, and effort to operate. QuickBooks offers a receipt-scanning function that plugs into the rest of the app’s powerful suite of accounting tools, allowing you to scan receipts, create expense reports, do your bookkeeping and create financial reports and statements all in one dashboard. QuickBooks: For the accounting-savvy business Lots of accounting and expense tracking apps offer digital scanning capabilities, but here we’ll focus on the most popular solutions: QuickBooks, Expensify, Bench, Receipt Bank, and business record scanners.
Telling the IRS that “the dog ate my tax records” simply won’t fly. Plus, let’s not forget that paper records can fade, and are susceptible to damage.
larger than $75) for at least three years.ĭigitizing your records is also a great way to avoid accidentally tossing them in a move or an overzealous fit of spring cleaning.
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You download them onto your phone, use them to take pictures of your receipts, and then the app’s OCR (Optical Character Recognition) technology digitizes all of the text and numbers on those receipts and stores digital versions of them in a filing system. Receipt scanning apps photograph and create digital versions of your receipts, which you can easily retrieve from a digital filing system. Here we’ll go over everything you need to know about receipt digitization apps: why you should incorporate them into your business, how they work, and which one is the best fit for your business.
It might be time to invest in a receipt scanner app. But you can’t do any of these things, because you keep all of your business records in a messy desk drawer, and you’ve lost the receipts for all of them.
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