It’s also lightweight, so it takes up hardly any
storage in your device. It saves all receipts (or other documents) as an image
or best app for keeping track of receipts a PDF document. The value this app offers above others is that it saves time
when you’re trying to save receipts.
There are several free receipt-scanning apps available for small businesses. Some popular options include Expensify’s free plan, which allows limited scans per month, and Wave’s Receipts by Wave app, which offers unlimited free scans. A user-friendly interface is crucial when choosing a receipt tracker and scanner. You want a solution that simplifies your workflow rather than adding complexity. In addition to OCR, modern receipt-scanning software offers features such as auto-categorization, smart tagging, and real-time syncing across devices and platforms. These features save time and effort in organizing expenses and ensure that changes or additions on one device are instantly reflected across all devices.
Advantages of Using a Receipt Scanning App
By using receipt scanners and trackers, you significantly reduce these errors since they rely on automated data extraction algorithms rather than manual input. The OCR technology employed by these apps ensures the accurate capture of essential information from receipts without human intervention. This saves you from potential errors and provides a more reliable and consistent record of your expenses. Our top choice for the best business expense tracker app is Zoho Expense. That’s because it offers powerful features for both small businesses and self-employed workers all without requiring you to pay for a monthly plan.
Receipts are also necessary for tax purposes as proof of expenses incurred. Is money management and accounting for your small business not really your thing? The scanning part works exceptionally well, since Office
Lens automatically trims and enhances the document so the text on it is easy to
read. You can then export the scans to any Office app like Word or PowerPoint,
of you can just send the PDF to your email or your OneDrive account. Another app focused primarily on saving and managing your
receipts is Receipts by Wave. This app is especially easy to use, and syncs
with your free Wave account for cloud storage of all those receipts.
Be prepared for tax season
A 2023 Pew Research study suggests that nearly a third of Americans who can work from home will do so all the time. Now that we’ve discussed some of the best receipt tracker and scanner apps for small businesses, it’s time to evaluate your specific business needs. By considering these factors, you can make an informed decision on which app is the right fit for your specific business requirements and budget constraints. It offers a range of other features that make it a versatile tool for small businesses.
Receipt scanners also make it simple to keep track of receipts, especially when it comes to doing yearly tax filings. If you have employees who work remotely, it makes it easier for them to send in receipts digitally rather than by mail or fax. Neat uses optical character recognition (OCR) software to extract information from paper documents and turn them into usable, keyword-searchable data. The app allows users to organize files by expense type, tax category and more and offers integrations with QuickBooks, TurboTax, H&R Block and other software. Users can scan documents using a TWAIN-compliant scanner, take pictures with the Neat mobile app, email documents or drag and drop them into the app. Shoeboxed is a receipt scanning app or service that offers several options for uploading and organizing receipts.
Best for Easy Reimbursements
The app’s basic features are free, and you can upgrade to Genius Scan+ for a one-time fee of $9.99 if you need more features. You can also pay $2.99 per month for Genius Cloud, which will back up your data automatically. Shoeboxed is a powerful receipt scanner app that revolutionizes expense management.
It also has fully customizable reporting capabilities so that you can easily keep track of your finances and/or send reports to accounting and business partners. Looking for a fast way to organize receipts and complete expense reports quickly? Keeper is the top-rated all-in-one business expense tracker, tax filing service, and personal accountant. Receipt scanner apps typically use security measures such as encryption, password protection and secure servers to protect user data. Some apps may also be compliant with industry regulations, such as HIPAA or GDPR.