Monday, May 20, 2024

Line Item Extraction with Receipt-AI

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* Receipt-AI extracts both general receipt information and individual line items via SMS.
If you’d like the line items added to your QuickBooks account, they’ll be automatically uploaded within seconds.

How does line item extraction work?

Simply take a picture of the receipt and send it via SMS, email, or drag and drop. Receipt-AI will extract general receipt information such as date, vendor name, total, address, phone number, and all line items.

What line item details can be extracted?

Receipt-AI can extract key line item details, depending on the document type. Common extractable data includes:

Item: The name or description of the purchased product or service.
Quantity: The number of units purchased.
Unit Price: The price per individual unit.
Price: The total price for the line item (Quantity × Unit Price).
Category: An accounting category (based on your chart of accounts), such as Meals, Lodging, Office Supplies, Transportation, etc.

Can I edit the Line Items?

Yes, simply click "Edit Receipt" under each receipt to add, edit, or remove any line items as needed. All updates will be automatically synced to your QuickBooks purchase.

How do I start using line Item extraction?

1. Sign up on Receipt-AI.

2. Select the Business Basic or Business Advance Plan.

3. Upload your receipts via email or SMS.

What is the accuracy of line item extraction?

Receipt-AI uses advanced AI and machine learning algorithms to ensure high accuracy in extracting line items from receipts. However, Receipt-AI can make mistakes, consider checking important information.

What happens if Receipt-AI makes a mistake?

If the line item prices in a receipt do not add up to the subtotal, a "Review Required" flag will be triggered. These receipts will not be automatically uploaded to your accounting software. Simply review and edit the receipt to correct any discrepancies.

Where can I find the receipt line items?

All line items are listed below your receipt for easy access.

Are There Any Limits on the Number of Line Items?

We don't limit the number of line items that can be extracted from your receipts. However, this feature is available only to Business Basic and Business Advance account users and their team members.

What kinds of documents can be extracted?

Receipts, invoices, purchase orders, and other documents with a similar format, including but not limited to:

Shipping Manifests: These documents list the details of cargo being shipped, including item descriptions, quantities, and destinations.

Packing Slips: Accompanying goods shipped to a buyer, packing slips detail the contents of a package, including quantities and descriptions.

Sales Orders: These document orders made by customers, detailing products or services purchased, quantities, and prices.

Bills of Materials (BOMs): Essential in manufacturing, BOMs list the raw materials, components, and instructions required to construct a product.

Quotations or Estimates: Provided before confirming orders, these documents detail the expected costs for products or services.

Delivery Notes: They confirm the delivery of goods and specify item details, quantities, and conditions upon arrival.

Proforma Invoices: Issued to declare the value of goods for customs, shipping, and insurance, containing similar details to a standard invoice but used for non-sale purposes.

Can I integrate Receipt-AI with other Accounting Software?

Yes, Receipt-AI integrates with popular accounting software such as QuickBooks Online and Xero.

We currently support uploading receipt line items directly to your QuickBooks Online account. Integration with Xero is in progress, and we're working to make it available soon.

What is the pricing for Business Basic and Business Advance Plans?

For detailed pricing information, please enter your email on the Receipt-AI website. We offer competitive rates for both Business Basic and Business Advance plans.

How do I manage my account and subscription?

You can manage your account and subscription settings from the dashboard on the Receipt-AI website. This includes upgrading, downgrading, or canceling your subscription.