The Best Apps for Managing Receipts [2022] | Bench Accounting (2022)

Maybe you’re getting audited by the IRS, and the whole thing hinges on a $50 receipt, like in that one episode of Seinfeld. Or maybe you’re just trying to reimburse an employee for an expensive Uber ride they had to take.

But you can’t do any of these things, because you keep all of your business records in a messy desk drawer, and you’ve lost the receipts for all of them. It might be time to invest in a receipt scanner app.

Here we’ll go over everything you need to know about receipt digitization apps: why you should incorporate them into your business, how they work, and which one is the best fit for your business.

What are receipt management apps?

Receipt scanning apps photograph and create digital versions of your receipts, which you can easily retrieve from a digital filing system.

Most of them work roughly the same way. You download them onto your phone, use them to take pictures of your receipts, and then the app’s OCR (Optical Character Recognition) technology digitizes all of the text and numbers on those receipts and stores digital versions of them in a filing system.

(Video) Business Receipts App | 5 Minute Receipt Hack for Small Businesses

These “smart receipts” are harder to lose and easier to retrieve, because you can quickly search for them with keywords and filters.

Why should I download one?

Digitizing your receipts removes a lot of the hassle involved in your recordkeeping operation. Regularly scanning and storing your receipts means that:

  • When tax time comes, you won’t spend hours sorting through a pile of crumpled receipts wondering whether that $13 parking charge was for a client meeting or a date.
  • You won’t miss any valuable tax write-offs.
  • You’ll know exactly where your money is going every month—so you can cut spending where it’s getting out of hand.

Due to the Period of Limitations, the IRS also technically requires you to hold on to receipts for significant expenses (i.e. larger than $75) for at least three years.

Digitizing your records is also a great way to avoid accidentally tossing them in a move or an overzealous fit of spring cleaning. Plus, let’s not forget that paper records can fade, and are susceptible to damage. Telling the IRS that “the dog ate my tax records” simply won’t fly.

What are the best receipt-scanning apps?

Lots of accounting and expense tracking apps offer digital scanning capabilities, but here we’ll focus on the most popular solutions: QuickBooks, Expensify, Bench, Receipt Bank, and business record scanners.

QuickBooks: For the accounting-savvy business

QuickBooks offers a receipt-scanning function that plugs into the rest of the app’s powerful suite of accounting tools, allowing you to scan receipts, create expense reports, do your bookkeeping and create financial reports and statements all in one dashboard.

QuickBooks has more features than any other expense trackers in this list, and also requires the most knowledge, time, and effort to operate. If you’re unfamiliar with accounting, you might find QuickBooks frustrating.

But if you’re a QuickBooks pro, have a dedicated admin employee who’s willing to learn, and already use QuickBooks for your accounting, it’s definitely a worthy option.

Platforms: Android, iOS, web browser

(Video) How to Organize Receipts//Receipt Management System//Electronic storage

Price: Starts at $12/month

Expensify: For the business traveller

If you work remotely or regularly have meetings in different parts of the world, you know post-trip expense tracking is a nightmare. Using Expensify means you can stop stuffing receipts into your luggage while you’re on the go. Snap pictures of your paper receipts with your mobile device, submit and be done with them.

Expensify also automatically imports receipts from ridesharing services like Uber and Airbnb, and also has a function for managing mileage tracking. Use the company credit card a lot? Expensify will import those expenses automatically from your card so you don’t have to go through your statements at the end of each trip. If you’re looking for an app for tracking employee travel expenses, it’s hard to beat Expensify.

Platforms: Android, iOS (iPhone), web browser

Price: Starts at $4.99/month

Receipt Bank: if you’ve got lots of receipts

Receipt Bank lets you digitize and store your receipts in pretty much any way imaginable. You can do it using a mobile app, via web browser, via email, or automatically by hooking your credit card up to the app. It also automatically imports receipts from PayPal and Dropbox, and lets you take photos of multiple receipts at a time.

Receipt Bank also integrates with most popular accounting software, including Xero, QuickBooks, FreshBooks and Sage One.

The only downside to Receipt Bank is that it won’t let you manually input receipt information, which can be a hassle if you don’t have the receipt in front of you.

But if you’re looking for an app that can ingest a lot of receipts quickly, in every way imaginable, Receipt Bank is the app for you.

(Video) Receipt Capture in QBO: scan & classify receipts with smartphone (for bookkeepers)

Platforms: Android, iOS (iPhone)

Price: $14.99.month

The Kodak Alaris: for the high-volume scanner

If you’ve got a large or quickly-growing business with a lot of paperwork to deal with, you might consider investing in a dedicated business document scanner, like the Kodak Alaris.

These machines can process large numbers of documents at once. And they do more than just receipts: they can scan and digitize invoices, letters, legal documents, and anything else you might want to store away for later. The Alaris in particular can also take care of the filing process for you, saving you hours of work.

Platforms: Desktop

Price: Starts at $403.49 USD

Bench: For hands-off expense tracking and bookkeeping

Is money management and accounting for your small business not really your thing? Bench can take it off your hands entirely.

Categorizing your receipts can be a pain, but when you work with Bench, we manage that for you. You can use us alongside of your preferred receipt storage app, and we’ll take care of your business bookkeeping by importing, reviewing, and categorizing all of your expenses every month.

We’ll help you track your expenses and send you financial reports monthly so you can understand your finances better than ever. Then at tax time, we work with your accountant to deliver all the financial info they need to file your taxes.

(Video) 5 Best Free Receipts App For Android of 2022 🔥 ✅

If you’re looking for a hands-off expense tracking solution, it’s hard to beat Bench.

Platforms: web browser

Price: Varies by your business needs. See our pricing page for more details.

Expense-tracking alternatives

If you don’t process a particularly high volume of receipts, you might be able to get away with one of these low-tech, near-free solutions:

Excel or Google Drive

Spreadsheets are the tried and true method of tracking your expenses (for free)—provided you don’t mind a bit of data entry work. Just find a good bookkeeping Excel template and make sure to update it at least once a week.

The great thing about Excel is, once you’ve entered all your transactions, you can generate reports and start getting insights about what those numbers mean. For example, if you use the Bench Income Statement template, your transactions will turn into a handy income statement sheet, showing your profit and loss over a certain period.

Evernote receipts

In addition to letting you save receipt photos and voice memos, Evernote’s “receipts” extension lets you create budgets, save detailed expense reports, and gives you all kinds of powerful categorization and filtering tools that make retrieving old receipts easy. If you’re already an Evernote user, you’ll definitely want to check out receipts.

The camera on your smartphone

The IRS accepts digital copies of documents as long as they’re identical to the original copies. (This means you must be able to produce a printed, legible copy of the document for them upon request.)

If you’re not worried about organization and simply refuse to download a dedicated receipt tracking app, you might be able to get away with simply taking a photo of your receipt and storing it on your phone.

(Video) QuickBooks Desktop 2021/2022: Receipt Management

It’s not a pretty solution, and you’ll have a tough time retrieving old receipts without the powerful OCR functionality that some of the apps above use, but it’s better than having no backup at all.

FAQs

Is there an app that keeps track of receipts? ›

1. Expensify. Expensify is included on most lists of apps to scan and manage receipts, and that's for good reason. It's an award-winning app that does just about everything you'd need in such an app.

What is the best way to keep track of receipts? ›

The 4 Best Ways to Organize Receipts Electronically
  1. Save Receipts to Google Drive. Using Google Drive to save and organize all of your receipts can be an efficient way to do this. ...
  2. Use Evernote. ...
  3. Use WellyBox. ...
  4. Scan or Download to Your Personal Computer.
5 Aug 2021

Which receipt scanning app pays the most? ›

Then stick around to learn how receipt apps work and how to maximize your earnings further down.
  • Rakuten (Ebates) - Best Overall.
  • Ibotta - for Welcome Bonus.
  • TopCashBack - for Most Money.
  • Coupons.com - for Most Retailers.
  • Fetch Rewards - for Grocery Stores.
  • TruNow - for Gas.
  • Checkout 51 - for Gas + Groceries.
5 Apr 2022

What app can i use to edit receipts? ›

Adobe Scan doesn't just work with standard paper files, it's worth noting. The company says you can also scan things like shopping receipts, business cards, a slide shown during a meeting, and even whiteboards. The new app is powered by Adobe Sensei, the company's A.I. and machine learning-based platform.

Does QuickBooks scan receipts? ›

QuickBooks Online

Using optical character recognition (OCR) technology, the QuickBooks Receipt Scanner can scan and record the amount, date, and location of your transactions. In addition to receipt scanning, the app can automatically import your bank statements, credit card, Square and PayPal transactions.

Is Smart Receipts app free? ›

The Plus version of the app is available as a yearly subscription for USD $9.99/year (or equivalent in your local currency).

How do I keep my receipts organized for tax purposes? ›

7 Tips for Keeping Receipts Organized for Tax Time
  1. Keep all receipts. ...
  2. Make notes on receipts about their business purpose. ...
  3. Scan receipts and keep them at least six years. ...
  4. Take a picture with your smartphone. ...
  5. Keep a daily business journal. ...
  6. Don't rely on credit-card statements and canceled checks. ...
  7. Stay away from cash.
22 Feb 2013

What is the app called Where you scan receipts? ›

Fetch Rewards turns your receipts into free gift cards and cash back from your favorite retailers. Scan receipts or e-receipts from any store or restaurant, then redeem your points to earn gift cards, make charitable donations, enter sweepstakes, and more! There's no coupon clipping or chasing down deals.

How do small businesses keep track of accounting? ›

To effectively track and manage expenses, small business leaders should take these steps:
  1. Open a business bank account. ...
  2. Use a dedicated business credit card. ...
  3. Choose cash or accrual accounting. ...
  4. Choose accounting software to automate record keeping and track expenses in one spot. ...
  5. Digitize receipts with a receipt scanner.
3 Nov 2020

Is Expensify app free? ›

Expensify is free to use for up to 25 SmartScans of receipts per month. For unlimited SmartScans (plus more), pricing is as follows: six-week free trial; after that, the price ranges from $4.99 per month for individuals and starts at $5 per user, per month for groups/companies.

Can you make money by taking pictures of receipts? ›

Just take a picture and earn a reward — yup, that's it. Receipt Hog accepts receipts for nearly any in-store purchase from groceries, clothes, electronics and even gas. You can earn a variety of rewards: Coins (cash rewards), spins (earn bonus coins or other prizes) and sweepstakes (monthly cash prizes).

Why do apps give you money for receipts? ›

Some of these apps work by letting shoppers search for offers or deals from their favorite retailers, and then uploading receipts showing the purchase of these items. Within 48 hours of uploading these receipts, shoppers receive cash back for qualifying purchases.

Which is better fetch or Receipt Hog? ›

Though receipts are worth more points on Fetch Rewards than on Receipt Hog, with Fetch providing 25 points per receipt, it's considerably more difficult to receive a reward. You'll need 5,000 points before receiving just $5. That's five times what Receipt Hog requires!

How do I edit a PDF receipt? ›

Follow these steps:
  1. Open Adobe Acrobat.
  2. Go to “File,” and click “Open.”
  3. Choose the PDF file you want to edit.
  4. Once your file opens, select “Edit PDF” from the toolbar on the right.
  5. If you want to edit text, place your cursor on the text you want to edit.
29 Aug 2018

Is Simplywise free? ›

Free 3-Day Trial | $1.66/mo billed. annually after

neatly categorized folders.

Is shoeboxed free? ›

Our free app allows you to instantly capture receipt images from anywhere, and to use your phone's built-in GPS for easy, accurate mileage tracking.

How do I organize receipts in QuickBooks? ›

Organizing Receipts - QuickBooks US - YouTube

How do I keep track of receipts with QuickBooks? ›

The QuickBooks Self-Employed app comes with built-in receipt scanning to help you track and organize your expenses. Simply snap a photo of a receipt and QuickBooks Self-Employed will attach it to the expense it matches. When it comes time to file taxes, receipts are stored and ready to use.

Can you use QuickBooks for free? ›

One of my colleagues, @ChristieAnn, mentioned that QuickBooks offers a 30-day free trial for each version of QuickBooks Online. You can use all the features available for each plan and decide if you want to continue using it. There will be no charge unless you confirm to continue with the subscription.

How do I create a digital receipt? ›

Digital Receipts - YouTube

Is receipt hog legit? ›

As mentioned above, Receipt Hog is a receipt-scanning app that will reward you for taking photos of your receipts and uploading them through the app. It is indeed a legit app since it will really pay you for participating in the earning opportunities it offers.

How do you scan receipts? ›

Use a scanner or a mobile photo scanning app, like Adobe Scan, to digitize your paper receipts. Make sure to save the scans as PDFs to easily open and share them from any device. You should also keep order confirmation emails for online purchases. Most retailers give you the option to save order confirmations as PDFs.

Does IRS accept credit card statements as receipts? ›

The short answer is YES. The IRS accepts credit card statements as proof of tax write-offs (here are the best apps to track receipts for taxes).

Can you use bank statements instead of receipts for taxes? ›

They require any form of acceptable proof such as receipts, bank statements, credit card statements, cancelled checks, bills or invoices from suppliers and service providers. Without the appropriate documentation, the IRS won't allow your deductions. Remember, it's better to be safe than sorry.

How long do I save receipts for tax purposes? ›

In most cases, you should plan on keeping tax returns along with any supporting documents for a period of at least three years following the date you filed or the due date of your tax return, whichever is later.

Is Receipt Hog still working? ›

Our servers are up and running again! :) Hi, everybody! We're aware of an issue causing receipts not to be processed correctly.

What app is replacing Receipt Hog? ›

The best alternative is Shoppix, which is free. Other great apps like Receipt Hog are Fluz, Checkout 51, Huyu and Receipt Pal. Receipt Hog is the fun app that pays you real cash & rewards for your receipts from every retailer and restaurant....

Is Ibotta or fetch better? ›

Fetch Rewards is easier to use than Ibotta and takes less time. However, Ibotta offers a more generous welcome bonus, a better selection of offers and flexible redemption options. These are both free, legitimate shopping apps that reward users when they buy featured items and upload their retail receipts.

Which software is best for accounting? ›

The 5 Best Accounting Software for Small Business of 2022
  • Best Overall: QuickBooks Online.
  • Best for Micro-Business Owners: Xero.
  • Best for Service-Based Businesses: FreshBooks.
  • Best for Part-Time Freelancers: QuickBooks Self-Employed.
  • Best Free Software: Wave.

How do you organize business receipts? ›

7 simple ways to organize your receipts
  1. Use a business account and credit card. ...
  2. Save your receipts. ...
  3. Spend time reviewing your receipts once a month. ...
  4. Make notes on the back of receipts. ...
  5. Create a spreadsheet for work-from-home expenses. ...
  6. Back up your receipts. ...
  7. Go digital.
19 Nov 2021

Can I do my own bookkeeping? ›

If you're just starting out, are doing your books on your own and are still in the hobby stage, single-entry is probably right for you. It's simple, fast and good for really basic bookkeeping. Double-entry is more complex, but also more robust, and more suitable for established businesses that are past the hobby stage.

How do I make a simple expense spreadsheet? ›

In short, the steps to create an expense sheet are:
  1. Choose a template or expense-tracking software.
  2. Edit the columns and categories (such as rent or mileage) as needed.
  3. Add itemized expenses with costs.
  4. Add up the total.
  5. Attach or save your corresponding receipts.
  6. Print or email the report.

Does Google have a receipt app? ›

Receipt scanning is a new opt-in feature within the Google Opinion Rewards (GOR) app for Android. It allows you to more easily upload your receipts from in-store purchases to receive additional rewards.

How do I create an expense tracker? ›

How to create a simple Expense Tracker
  1. Choose simple expense tracker software. ...
  2. Create your expense categories. ...
  3. Create your expense input sheet. ...
  4. Create your summary tab. ...
  5. Try Sheetgo's automated expense tracker template.

What is better concur or Expensify? ›

Reviewers felt that Expensify meets the needs of their business better than SAP Concur. When comparing quality of ongoing product support, reviewers felt that Expensify is the preferred option. For feature updates and roadmaps, our reviewers preferred the direction of Expensify over SAP Concur.

How much is concur monthly? ›

The minimum fee for an organization to purchase Concur's SaaS product for the first time is approximately $994 per year or $82.90 per month, which is not unreasonable for a product that's as full-featured as Concur Expense, especially considering that there is no setup cost.

Can I use Expensify for personal use? ›

If you're part of your company's Group Policy, you should also be able to use your Individual Policy - for personal tracking and budgeting - at no charge. Log in to your Expensify account and click Settings then Policies and you should see both of them here!

What is the Pogo app? ›

Pogo is your agent in today's digital world, always working to bring you more money and control: 1. Sync your data with the app, such as transactions, shopping history, and location.

What do I do with old receipts? ›

You generally want to shred receipts that contain personal information, especially account numbers, since they can be stolen by fraudsters. If a receipt doesn't contain anything identifying you, you are usually safe to simply throw it in the trash or recycling bin.

Why do people scan receipts? ›

Many individuals and businesses use a receipt scanner app to keep track of all of their documents to keep their finances in order. Storing paper receipts can quickly get disorganized and overwhelming.

Why do companies want my receipts? ›

Proper receipts will help you separate taxable and nontaxable income and identify your actual deductions. Keep track of deductible expenses: In business, things get busy — and that is a good thing. Keeping receipts of all your transactions will help you claim all of your possible deductions.

What is Shopkicks app? ›

Shopkick is the app that rewards you for the shopping you already do, no matter how you do it. Get reward points (we call them “kicks”) that you can claim for free gift cards! Get kicks (points) when you walk into a partner store, scan the barcode on select products, or make purchases.

Why do companies want photos of receipts? ›

Receipt imaging allows employees to take a picture of a receipt and upload it directly into their expense report, allowing them the convenience of no longer having to meticulously save each receipt with fear they could be lost or destroyed before their expense report is filed.

Which receipt app pays the most? ›

Then stick around to learn how receipt apps work and how to maximize your earnings further down.
  • Rakuten (Ebates) - Best Overall.
  • Ibotta - for Welcome Bonus.
  • TopCashBack - for Most Money.
  • Coupons.com - for Most Retailers.
  • Fetch Rewards - for Grocery Stores.
  • TruNow - for Gas.
  • Checkout 51 - for Gas + Groceries.
5 Apr 2022

What app is better than Ibotta? ›

Snap by Groupon is one of the most similar apps like Ibotta that will give you cash back on purchases made at any store. You just need to upload your receipt and watch as the money rolls in. You can use the app or the website to earn money with this platform. Typically, your purchases will be approved within 48 hours.

How can I get money from old receipts? ›

7 Unique Ways to Earn Money With Your Receipts
  1. Scan Your Receipt with Ibotta. Picture Source. ...
  2. Earn Coins from Receipt Hog. Picture Source. ...
  3. Take Photos of Your Receipt for CoinOut. Picture Source. ...
  4. Get a Refund on Price Drops. ...
  5. Optimize Your Web Brower with Rebate Extensions. ...
  6. 6. Mail-In a Rebate Offer. ...
  7. Take Surveys On Your Receipt.

Is Smart Receipts app free? ›

The Plus version of the app is available as a yearly subscription for USD $9.99/year (or equivalent in your local currency).

How do I organize a scanned receipt? ›

Use a scanner or a mobile photo scanning app, like Adobe Scan, to digitize your paper receipts. Make sure to save the scans as PDFs to easily open and share them from any device. You should also keep order confirmation emails for online purchases. Most retailers give you the option to save order confirmations as PDFs.

Is Simplywise free? ›

Free 3-Day Trial | $1.66/mo billed. annually after

neatly categorized folders.

Is scannable app free? ›

Scannable is a free app on the App Store that scans documents intelligently, and processes the acquired data.

Is expensify free to use? ›

Expensify is free to use for up to 25 SmartScans of receipts per month. For unlimited SmartScans (plus more), pricing is as follows: six-week free trial; after that, the price ranges from $4.99 per month for individuals and starts at $5 per user, per month for groups/companies.

How do I create a digital receipt? ›

Digital Receipts - YouTube

How do receipt apps make money? ›

Fetch Rewards, available on Android and iOS devices, is a shopping app that allows consumers to earn rewards by scanning their receipts. Fetch Rewards makes money via affiliate commissions paid by the brands it partners with as well as through interchange fees.

How do businesses keep track of receipts? ›

Here are five tips on how to track your business expenses:
  1. Digitize all your receipts with a receipt scanner. ...
  2. Use software to categorize and keep your expenses all in one place. ...
  3. Have a dedicated business bank account and card. ...
  4. Connect your bank account to your accounting software to automatically import transactions.
16 Nov 2021

Does Google have a receipt app? ›

Receipt scanning is a new opt-in feature within the Google Opinion Rewards (GOR) app for Android. It allows you to more easily upload your receipts from in-store purchases to receive additional rewards.

How do I categorize receipts for small business taxes? ›

Sort by type. After receiving a receipt, separate receipts by the type of business expense. For example, place office supplies receipts in one pile and meal and entertainment receipts in another. Consider adding codes to each receipt to categorize expenses (e.g., Code 125 for meals).

How much does SimplyWise app cost? ›

PRICING: Starting $23.99/year, billed annually. Risk-free data storage: if you stop subscribing, you can always choose to download all of your receipts and documents before closing your account!

Why do you get money for scanning receipts? ›

Some of these apps work by letting shoppers search for offers or deals from their favorite retailers, and then uploading receipts showing the purchase of these items. Within 48 hours of uploading these receipts, shoppers receive cash back for qualifying purchases.

Why do people scan receipts? ›

Many individuals and businesses use a receipt scanner app to keep track of all of their documents to keep their finances in order. Storing paper receipts can quickly get disorganized and overwhelming.

What is Evernote used for? ›

Evernote is note-taking software that helps you create and organize digital notes—and keeps them synced across all your devices. You can use it as a digital filing cabinet to organize all your notes, whether they're recipes, strategic plans for work, or a daily diary.

Is Evernote free to use? ›

Your Evernote Basic plan is now called Evernote Free. The price of your plan has not changed. It's still free. You have all of the same Evernote features and services you had before, plus access to all-new Tasks.

How do I scan with my phone? ›

Scan a document
  1. Open the Google Drive app .
  2. In the bottom right, tap Add .
  3. Tap Scan .
  4. Take a photo of the document you'd like to scan. Adjust scan area: Tap Crop . Take photo again: Tap Re-scan current page . Scan another page: Tap Add .
  5. To save the finished document, tap Done .

Videos

1. QuickBooks Online Tutorial: Capturing Receipts with Smartphone
(Hector Garcia CPA)
2. How to capture and manage receipts in QuickBooks Online
(QuickBooks)
3. Upload and manage receipts
(Wave Apps)
4. Best Free Receipt Scanner & Organizer App
(Quickscan App)
5. Receipt Bot Review 2022 | Accounting Automation Software
(Pearl Lemon Group )
6. Xero App (Mobile) - Adding in receipts - Demo
(Avoda Business Advisory)

Top Articles

Latest Posts

Article information

Author: Virgilio Hermann JD

Last Updated: 11/16/2022

Views: 6289

Rating: 4 / 5 (41 voted)

Reviews: 80% of readers found this page helpful

Author information

Name: Virgilio Hermann JD

Birthday: 1997-12-21

Address: 6946 Schoen Cove, Sipesshire, MO 55944

Phone: +3763365785260

Job: Accounting Engineer

Hobby: Web surfing, Rafting, Dowsing, Stand-up comedy, Ghost hunting, Swimming, Amateur radio

Introduction: My name is Virgilio Hermann JD, I am a fine, gifted, beautiful, encouraging, kind, talented, zealous person who loves writing and wants to share my knowledge and understanding with you.