Digitizing receipts can remove many inconveniences involved in your bookkeeping process. These spends could be on vendor invoices, utilities, office events, and more. It becomes a particularly challenging task when there are multiple spends to keep a tab on. Keeping an active track of employee spending can be a daunting task. How do receipt management apps help businesses? While physical receipts are prone to get lost in a sea of similar ones, digital receipts, with the help of receipt scanners, are harder to lose as they can be accessed from virtually anywhere. It enables you to file your expenses quickly, whether you're managing your organization’s finances or filing your taxes – you know exactly where your money has been spent. Receipt scanner apps let you take pictures and create digital copies of your physical receipts, which can be easily retrieved from a common cloud storage. This is a good indication that it's time to invest in a receipt scanner app. Where do you look for this tiny bit of paper now? Months have passed since your last audit, and since then, you’ve stuffed all your business records into one little cabinet.Ĭhances are, you might not find this receipt and end up in the bad books of the IRS. Imagine the IRS is auditing you, and the entire process now hinges on a $60 receipt that your employee spent on an expensive cup of coffee during a client meeting.
