Sunday, July 16, 2023

The best receipt scanner for QuickBooks

Update: Since November 3rd, 2023, Receipt-AI has been available in the QuickBooks store.

Visit Receipt-AI on QuickBooks store:

https://quickbooks.intuit.com/app/apps/appdetails/receipt_ai

What is Receipt-AI?

Receipt-AI is a receipt management tool that utilizes AI, Email, and SMS. Users can simply take a picture of their receipt, send it via Email or SMS, and Receipt-AI will extract information (such as the date, vendor name, and total), rename the receipt file, and upload it to Xero or QuickBooks, all within 5 seconds. Receipt-AI: Take a picture and Text

If you choose to send a message with the receipt, it will show up in your Receipt-AI account.

Why are receipts important?

* Purchases, sales, payroll, and other transactions you have in your business will generate supporting documents. It is important to keep these documents because they support the entries in your books and on your tax return.

How long should I keep receipts?

In the US: * It is recommended to retain receipts for 2-7 years.
In Canada: * The general requirement is to preserve such documents for a period of 6 years.

Why Email and SMS?

Receipts come in many form: Physical, emails and from your co-workers. SMS is tailored for quickly capturing physical receipts, while the email solution is for when you receive a receipt via email. Receipt-AI works with the tools you already know, ensuring ease of use without any learning curve.

When should I start tracking my expenses?

As soon as you start registering and operating your company. This is crucial because there are startup and organizational costs associated with setting up and establishing your business. This tracking can help you when your company starts generating revenue.

How can Receipt-AI help me save time and money?

+ Works with both Email and SMS

+ Instant upload to Xero or QuickBooks

+ No more chasing down receipts

+ Don't have to enter receipt data manually

+ Save 97% of receipt processing time

+ Save money when filing your taxes by expensing eligible purchases.

If you work at a company:

If you are an accountant or CPA:

Start by sharing Receipt-AI with your team and clients and have them upload receipts for you.

The best receipt scanner for QuickBooks: A pile of paper receipts spread out, showing why a tool like Receipt-AI is useful for scanning and organizing them into QuickBooks.