The prior year’s expense receipts may be stuffed in drawers and cabinets, or you may have neatly organized files for all of those irregularly sized slips of paper. Whatever the method, a paper-based receipt tracking system increases the chances of lost or overlooked tax deductions, and it is probably costing you unnecessary time and effort. Receipt scanning software programs simplify expense tracking for a variety of industries, whether you need an easy, inexpensive way to manage your freelancing expenses or a robust mobile system to organize expenses related to sales and travel.
Xpenditure offers a well-rounded collection of features, along with support for up to 1,000 users. In addition to scanning receipts and tracking expenses, Xpenditure records mileage and billable work hours, and it integrates with QuickBooks Online for seamless expense reporting. A basic monthly subscription supports up to 15 users, making it an ideal solution for small businesses with mobile teams or field employees. For a few dollars more, Xpenditure Pro handles larger workforces and integrates an expense approval process that saves time and simplifies reimbursements. Frequent travelers appreciate this app’s ability to manage trip details, such as hotel and flight reservations.
As the preferred receipt scanning software of many accountants, Receipt Bank also provides small- and medium-sized businesses with plenty of useful features. Users may scan receipts on the go using the Receipt Bank mobile app, or transfer files through email, Dropbox, or a simple drag-and-drop interface. The program extracts the important information from your receipts and invoices, keeps it organized, and makes it easy to share the data with your bookkeeping software or accountant. Single- and multi-user packages are available at various monthly rates depending on the number of receipts you typically generate.
The Neat family of products delivers solutions for businesses of all sizes, and Neat is a leading provider of standalone receipt scanners. Individuals scan their receipts using their Neat scanner or the company’s subscription-based mobile app, and Neat’s advanced PC-based software does the rest. Users can organize their receipts, business cards, and other scanned documents into folders and subfolders, search their data by filters or keywords, and create a variety of reports and budgets. Neat scanners and monthly service plans are available at various price points, and the service integrates with popular accounting programs, including QuickBooks.
IQBoxy excels in simplicity and affordability, and this easy-to-use receipt software doesn’t fall short on features. Users may mail, scan, email, or upload their receipts for processing, or dictate the information through their Apple Watch. IQBoxy doesn’t offer the accuracy of human verification, but the company releases regular updates to keep its automated technology competitive. A free account offers basic receipt scanning and storage capabilities, but ads are included. Subscribers receive unlimited scans, mileage tracking, and expense reports for a reasonable monthly fee, and this version also integrates with QuickBooks Online to simplify bookkeeping.