Like Receipt Bank, Shoeboxed allows you to snap a picture of your receipt, and the app then extracts vital information for you. Shoeboxed: The ‘ultimate receipt manager’ Receipt Bank was awarded as Xero’s 2015 ‘Add-on of the Year’ award (UK winner). Receipt Bank is one of the major players in this market and earned high praise from business owners and accountants. Receipt Bank also integrates with accounting software such as Xero and QuickBooks Online to streamline your data entry. Simply snap a photo of your receipt and submit it for processing the app automatically extracts all relevant data including vendor, total amount, payment method, and date. With Receipt Bank, you can easily do away with expense-related data entry altogether. Why not take the uncertainty and disorganisation out of expense tracking by going mobile? These apps can be used anywhere, anytime, to ensure no cent goes unlogged or unclaimed. This information is often re-entered into the accounting system either by the business owner, bookkeeper or the accountant which is very inefficient. In spite of all of the high-tech options out there, 47% of small businesses are still using spreadsheets for expense management, which is time-consuming and does not provide the reporting that businesses require. With the ongoing development of cloud technology, there are now mobile apps designed specifically to assist business owners with tracking their business expenditure. With 50% of small business expenses being generated on the go, it’s no wonder the majority of expense receipts end up shoved in coat pockets or an old shoebox. 4 apps to help small businesses track expenses
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