Scanning and storing your paper receipts online or in the cloud is a great way to stay organized, understand your expenses, and remain on budget. And today, there’s no shortage of great receipt scanners to help you get the job done right and on time. But which receipt scanning app is best suited to your needs?
Here are 7 top-performing receipt scanning apps that not only snap pictures of the paperwork cluttering your office, they also integrate exciting storage, tracking, reporting, and other features that will only benefit your bottom line.
Expensify Receipts Scanner App
Expensify is known as the best overall receipt scanning app on the market. A cloud-based app that is compatible with both android and iOS devices, it bundles expense management and unlimited receipt scanning into an excellent solution that can be connected with other Expensify tools to enable expense recording. All you need to do is take a picture of any receipt with your smartphone’s camera; the app will scan the receipt and automatically pull the data to generate expense reports – for free. Other freemium features include automatic expense approval and next-day employee reimbursement, as well as automatic mileage tracking for travel expenses, making it an ideal solution for small to medium businesses. And for up to just $5 a month, larger businesses and corporations can enjoy additional features, such as Corporate card management and reconciliation, automatic exportation of expense reports to accounting software, and multilevel workflow approval.
Receipts by Wave
Small businesses and startups, delight. Wave’s free receipt-scanning app is an ideal solution for staying on top of your receipts. It automatically and instantaneously syncs with its free, cloud-based accounting software, Wave Accounting, but also enables you to flexibly export your data to the accounting tool of your choice, should you prefer to use QuickBooks or the like. This makes it extremely easy and convenient to work on and with your budgets. Note that there is a two-step process to scanning your receipts. First, you must upload your image. Then, you will be asked to confirm the details on your receipt, ensuring that they were read correctly by the app, and helping you to keep incorrect data from finding its way into your expense reports.
Neat Receipts App
While Neat is a pricier option, this app is ideal for keeping your receipts and other documents (not just financial ones) in supreme order. Like other receipt scanning apps on the market, you can use the Neat mobile app to scan and upload receipts. But you can do so much more. Engage in more accurate expense tracking by connecting your bank account, credit card, and loan payments to Neat Receipts. And enjoy clearer financial reconciliation by matching your receipts to invoices and bank statements, itemizing expenses on each receipt, line by line, and creating comprehensive expense reports. Select the payment plan that reflects how many receipts you think you’ll need to scan per year – and then get ready to collaborate on your bookkeeping with up to five other users, lightening your load without compromising on excellence.
Receipts by Shoeboxed
If you haven’t been great about organizing your paper receipts thus far, it isn’t too late. With Shoeboxed, you can fill prepaid envelopes with all your receipts, invoices, and other financial documentation. The number of envelopes you get per month depends on which paid plan you select. Next, head over to the post office and send your envelopes off to the Shoeboxed team, who will scan your paperwork on your behalf. Then, they’ll organize and track it according to tax categories or other parameters, so you can free your hands and your mind to deal with other important business activities.
While Evernote is only compatible with iOS devices, it is perhaps one of the best receipt scanning and tracking apps on the market. Simply take a photo of your receipts and then preview the scan before approving or discarding it, and snapping a pic again. Once scanned, your receipts will be saved to Evernote’s cloud-based app, making it easy to budget and make payments. The freemium version’s features stop here, but for a fee, you can take notes on your receipts and use them to create keen, financial presentations. Monthly and yearly Premium subscriptions cost $7.99 and $69.99, respectively.
If detailed reporting is just as important to you as capturing and storing your receipts online, Smart Receipts is the app for you. The iOS and android-compatible app has a super organized layout and countless smart features that turn your smartphone into a savvy financial services provider. Once you’ve scanned your receipts into the app, you can create PDF, CSV, and ZIP reports, and then customize them with details such as payment method, currency type, and mileage. Folders can be created for specific expenses, and graphs can be generated, breaking down your spending in a clear, concise, and enlightening way. Note that while the open-source software is free to download and use, only the paid version includes automatic Google Drive exports.
Veryfi is, perhaps, the underdog of the top-performing receipt scanning apps on the market. Less well-known, the app is an industry leader with respect to data security. HIPAA compliant, Veryfi is the ideal app for businesses dealing with sensitive information and seeking a real-time data scanning and extraction solution, enabled by 100% machine processing. But what truly sets Veryfi apart from their competitors is their timesheets time tracker feature, which simplifies employee and time tracking, making it easier to set payroll. If you want an all-encompassing receipt scanning, reporting, payroll enabling app, this one’s the one for you.
True, there are many great receipt scanning apps on the market – and the above seven are top-performers you most certainly should consider adopting for your business or personal needs. That being said, there is a simpler way to store and track your receipts! Go digital. Rather than scanning and managing tons of paper (and wasting precious natural resources), consider shifting to digital receipts, and managing them with WellyBox. In just a few minutes, the Wellybox system will scan your mailbox, find all your receipts and invoices, and store them quickly and efficiently. WellyBox will also show you the most up-to-date status of your expenses, so you can save time, money, and effort, like a tycoon.