Whether it is for tax purposes, business expenses, personal budgeting, or just simply for a return, holding onto physical receipts is necessary. The problem is, it can be a bit of a hassle. And, we all know that losing receipts can lead to a lot of frustration.
There are several different ways to organize receipts:
- Hidden in the closet method
- Envelope system
- Using a binder
But in today’s world, going digital is probably the most popular and efficient way.
We aren’t talking about scanning an image of every single receipt and then digging through them later. We are talking about digital organization using software to organize your receipts.
Here are some of the best apps for organizing receipts:
Expensify (iOS and Android)
Take a picture of your receipt and let this app automatically identify and pull out the expenses for you. From there, you can associate each charge with a specific expense report.
And if you happen to lose a receipt, because we all know that does happen sometimes, you can easily enter expenses straight from a credit card or bank statement into Expensify.
Like other receipt apps, you simply take a picture of your receipt and save the information. But the unique feature about this app is that it saves your receipt information to the cloud instead of to your device.
This is a great way to both save storage space on your phone and to ensure your data is in a safe location.
Shoeboxed makes receipt organizing easier than ever thanks to its automatic process – making you even more likely to follow through with it. You simply scan your receipts and send them electronically to Shoeboxed.
Then the app will organize and store them online. You can also mail your receipts and have them do the scanning for you for free.
Once you are ready for your data, you can export it to Quicken, Excel, a CSV or PDF.
The key to actually following through with a new routine is to make it easy. By going digital and automating as much of the process as possible, the work is basically done for you.