It is a good idea to keep track of your expenses. Receipt scanner apps can be used to organize your spending and improve your business accounting processes.
Receipt scanner apps that can digitize receipts, extract pertinent information, create expense reports, and manage all of your spending from one app. There are many complicated apps out there trying to do everything. We will be focusing on receipt scanner apps that scan receipts.
What is receipt software?
A receipt scanner software program helps businesses and individuals organize their receipts. To automatically extract the relevant data from receipts, the receipt scanner app uses optical characters recognition (OCR). This makes it much easier to digitize receipts and less paper clutter.
Many apps include the ability to scan receipts and store them electronically. They can also be categorized for easier tracking and reference. Some receipt scanning software may offer additional features like tracking expenses, report generation, and integration with financial management or accounting tools.
Why should you use a receipt scanner app?
An accountant would not like to look through 1000s upon 1000s of receipt images in an attempt to determine which category they belong to. The receipt scanner app facilitates financial employee reimbursement and tax filing.
It’s also beneficial for businesses. Individuals can use receipt manager apps in order to see their spending. These are just a few reasons that individuals and businesses should use receipt scanner applications:
- Keep track of your spending
- Receipt OCR allows you to extract information from receipts
- All expenses can be managed from one location
- You can ensure a smooth and easy tax filing process
- Get tax-write-off benefits
- Compliance by storing receipts for three year
- Digitize receipts from paper and ensure they are securely saved
You can digitize your receipts and convert them into a searchable database to ensure that you always have a copy of every receipt. What software should you use to manage receipts? Let’s take a look at the top 10 receipt-scanning apps right now.
Also read: What is POS Inventory Management System
Top 10 Receipt Scanner Apps in 2023
1. Nanonets
Nanonets Receipts & Expenses app makes it easy to scan receipts while on the move. Nanonets OCR software is the best in its class and makes it simple to scan and digitize receipts. Nanonets OCR scans receipts with 98% accuracy and recognizes over 200 languages. All receipts can be saved in secure cloud storage.
Employees can easily scan receipts and create expense reports in one click. Then, they can send it to the accounting department. It is easier to manage employee expenses with standard expense reports.
Features
- It’s the best OCR available for receipt scanning applications.
- Take photos of receipts and scan them from your camera.
- All receipts should be kept safe.
- In one click, create expense reports and send expenses to your managers for approval.
- You can easily extract information from multilingual and multi-currency documents.
- To manage employee spending easily, the accounting department can allow multiple users.
Pros
- Completely FREE
- Scans blur images with high accuracy.
- More than 200 languages are identified
- Ideal for measuring Travel & Entertainment costs
- Nanonets Platform easily integrates
2. Zoho Expense
Zoho Expense is a single integrated solution that tracks business expenses. It may collect employee receipts and create expense reports for managers to review and approve.
Features
- To view reports, log time, and manage finances, users can add other colleagues to their institution.
- It has an SSL security feature that provides a secure connection to organize smart receipts.
- You can also use it to benefit your company if you have employees who travel outside of the country or do
- multi-currency transactions.
Pros
- Zoho users are a good fit
- Unlimited receipt scanning and storage in its programs
- Ideal for travel expense approval
Cons
- For small teams who process very few bills from dealers, it can be expensive.
- Steady learning curve
- It can be difficult to use the interface
3. QuickBooks
QuickBooks provides small businesses with an all-inclusive way to manage receipts and other financial matters, profit management, and bookkeeping. You can connect your business management software to other accounting software and many third-party applications.
Features:
- You can take pictures of receipts and then accounting will match them to the correct expenses.
- It organizes everything so you can prepare taxes easily and keep track of all your proof of expenses.
- Automatically generates financial statements, tax reports, and inventory reports, as well as cash flow statements.
Pros
- You can track profit and loss by project, class, or location
- You have access to a large network of independent QuickBooks ProAdvisors
- It tracks mileage, and expense tracking, and allows you to scan receipts through the app
Cons
- Upgrade plans are required to add additional users
- It is more expensive than its direct competitors
- There is no variance exam for real and estimated costs
4. Shoeboxed
Soeboxed digitizes receipts and provides GPS mileage tracking to track mileage. With the help of a desktop plugin, users can drag and drop receipt scans to their email accounts in order to import them.
Features:
- OCR, precise scanning, and human verification are all part of the receipt management feature.
- It is now easy and fast to digitalize receipts in a secure location.
- It also includes a Gmail plugin that will allow you to keep another receipt in your email.
Pros
- Track mileage and expense reporting
- Magic EnvelopeTM allows you to send receipts directly to the app to be scanned
- Endless file storage
Cons
- Receipt processing is not sufficient.
- The support page is out of date
5. Expensify
Expensify lets you take a picture of your receipt and then it will process the image to get all the information. This saves time when storing receipts.
Features:
- This feature allows you to track your mileage.
- Integrates with accounting software such as NetSuite and QuickBooks
- Integrate with your phone’s GSM sensor
- Import credit card transactions
Pros
- It syncs seamlessly to QBO well.
- Split payments between departments in East
- It is simple to quickly reimburse employees
Cons
- Too often Smart scan fails.
- The web experience could be better.
- Pricing models were confusing and constantly changing.
- They are very aggressive in selling their products.
6. Smart Receipts
Smart Receipts make it easy to collect and manage receipts. Smart Receipts save time and allow you to track additional mileage while you’re on business trips. It is useful for keeping track of all the details that are required when you travel for work.
Features:
- You can either take receipt photos or import them from the gallery
- You can tag receipts that you have captured with metadata so you can find them later
- Track your mileage at the point of travel
- Google Drive syncs your receipts
- It features an OCR feature that allows you to read the text from your scans
Pros
- Tracking productive mileage
- Open-source and free
- Automatic scans are available
Cons
- Free version: Ads and bugs
- Extra pay-per-use services
7. Receipts By Wave
Receipts By Wave manages and stores your receipts. Using your Wave account to sync to this app will let you store all your receipts in the Cloud. This is a great feature because even if your phone gets lost, you can access your important information online at any time.
Features:
- Wave’s cloud-based accounting software allows you to integrate receipts into your reports.
- Multiple receipts can be scanned at once
- To scan receipts, you don’t need to be online
Pros
- Supports endless users
- Multi-currency transactions are possible
Cons
- Large businesses may not find this suitable
- No inventory management
- No audit history or time tracking
Also read: 6 Reasons Why Your Business Needs an Invoice Management System
8. Genius Scan
GeniusScan is one of the most convenient apps for scanning and storing receipts while you’re on the go. You can export these scans from the program via JPEG, PDF, or to any of your cloud storage accounts.
Features:
- For security reasons, all receipts can be saved immediately on the phone
- Include document detection and perspective fixing
- You can scan multiple receipts at the same time
- High-quality scans
9. Dext Prepare
Dext Prepare offers receipt scanning capabilities in addition to basic bookkeeping, expense reporting, and analytics tools. You can scan bills and invoices using the mobile app. The OCR technology classifies data by location and tax before it is sent to your accounting software.
Features:
It can extract bank statement data and classify them or include them in fields.
The app makes it easy to search for the extracted data, so you don’t have to review the scanned receipts manually.
You can separate documents based on where they came from.
Pros
- Data extracted from receipt line items
- The app allows you to capture receipts and create expense reports.
- Documents relating to sales and cost
Cons
- Accounting software is not complete
- No built-in cloud storage
10. Neat
Neat’s mobile app allows you to quickly scan receipts and files, task management, and analyze important documents while on the move. The program’s interface allows you to organize your expenses by line item. This tool allows you to track how much money is going toward each item.
Features:
It also has a receipt management function that allows you to access your monetary papers anywhere, at any time.
You can scan files, take photos with your phone, and upload catalogs to your phone.
Pros
- User interface is simple and straightforward
- Multiple capture options, high-grade scanning, and human verification are all included
Cons
- A simple bookkeeping system is not necessary
- It can be difficult to scan two-sided documents.
- No invoice reconciliation
Conclusion — Top receipt scanner apps
Converting your paper receipts into digital ones may make tracking expenses easier. With most apps’ ability to automate the delivery of receipts to expense reports, your business trip could be made easier. Your needs and the time and place you want to use it will determine which receipt scanning software is best for you. Try a few of the apps to determine which one is right for you.
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