3 Alternatives to Keeping Your Receipts in a Shoebox

| Bookkeeping, Small Business, Taxes

Alternatives to Keeping Your Receipts in a Shoebox

One receipt laying on your desk is not so bad, but 127 receipts from the past six months? Yeah, that takes up a liiiiitle more space.

This applies to digital clutter, too. If you keep all of your digital receipts and invoices in your email inbox, I’m looking at you.

So, if you’re having trouble figuring out how to organize your receipts so you’re not scrambling again at tax season and spending hours inputting data, I have some suggestions.

Here are 3 alternatives to keeping your receipts in shoeboxes, on countertops, and in your wallet.

3 Online Tools for Organizing Your Business Receipts

1) Shoeboxed

Unlike what the name suggests, this app does not help you keep your receipts in a shoebox. It does, however, provide a smart way for you to scan in your receipts and organize them online.

Once you download the app to your phone, you’ll be able to save images of receipts. Other cool things you can do with Shoeboxed?

  • Organize invoices
  • Track your mileage
  • Save business cards
  • Archive receipts from Gmail
  • Create expense reports

If you’d rather not scan in the receipts yourself, you can send them in using what they call a “magic envelope”.

Here’s what I like about it: So many things. The scanning process takes all of the data into the system for you, so there’s no data entry required from you. I like that it integrates with the accounting software that I use, like Xero and WaveApps. (They also integrate with Quickbooks, Evernote, and a variety of other tools.) I also really like that all of the data is verified by a real human being. That means there is less room for tech bugs getting in the way and messing up data about your expenses. Oh, and once the info is in the system, you can search all of it by entering keywords.

Here’s what I think could be better: A couple things. Shoeboxed doesn’t automatically integrate with Freshbooks. You have to download the csv file and upload it to Freshbooks, which adds another admin task to your plate.

Price: between $15 – $69 per month

Free Trial: Yep! 30 days.

Multicurrency: Yes.

Founded in: 2007

2) Receipt Bank

Receipt Bank is a tool that’s geared toward accountants and bookkeepers who are managing their clients’ receipts.

You can upload receipts via a mobile app, through email, or by uploading them directly from your computer. Plus, they accept all kinds of file types — jpg, png, doc, pdf, tiff, zip, etc.

From there, their software takes the data from your documents, inputs it, and categorizes it in the cloud.

What I like about it: It integrates with Dropbox, Xero, and Freshbooks, and I like the easy setup.

What I think they could do better: You have to review all of the data inputted to make sure it’s been coded correctly, which is more likely since it’s not reviewed by a member of the Receipt Bank team. It doesn’t integrate with WaveApps or Zoho Books. Finally, I ended up moving from Receipt Bank to Hubdoc because I needed the ability to take bank statements.

Price: between $25 – $55 per month

Free Trial: Yep! 14 days.

Multicurrency: Yes.

Founded in: 2010

3) Evernote

If you’re looking for a free solution to receipt organization, you can use a workaround with the app Evernote.

All you have to do is create a notebook for receipts, take a picture of the receipt using their photo capability in the app, and then add some text to the note.

Then, if you want to find the receipt in the future, you can search for it using Evernote’s full-text search feature.

What I like about it: You can clip receipts from your email using Evernote’s web clipper, and you can search for text inside the images, which is pretty cool.

What I don’t like about this solution: You still have to input data into your bookkeeping software. It’s not great for companies that are handling a lot of transactions because the data entry will pile up. I’d recommend using something more robust like the tools above or Hubdoc.

Price: FREE up to 1gb of data.

Have questions about other receipt organization apps? Let me know in the comments below.

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