It’s kind of like working out. It’s like one of those things you know is important, but maybe don’t make time for as often as you should despite your knowledge of the benefits. And, much like exercising, it’s just one of those things you need to do that is too commonly set aside.
Maintaining a solid system for keeping and cataloguing receipts is one of those things that, at least for some, is seeming more and more unnecessary. As technology continues to advance, tracking spending habits can be done a myriad of ways. There are printable receipts and online banking apps and everything in between.
Yet regardless of how you opt to keep an eye on spending as a small business owner, one thing remains the same. Receipts are still valuable. They are still necessary for proper tracking and documentation of spending habits, particularly in the small business world. And it doesn’t stop there.
Finding efficient ways to properly file and catalogue receipts is a necessary stepping stone to small business finance. Because when it comes to tax time, nothing is worse than not having your documentation is order.
Fortunately, there are a variety of tools available to small business owners that can help not only keep track of everything, but stay organized in the process. In the spirit of the new year, when most folks are trying harder than usual to start fresh and implement new ideas, here are a few of our favorite apps for financial tracking for you to try in 2017:
Favorite online sharing tool – Dropbox.com
Affordable, reliable and, perhaps most importantly, secure, Dropbox is used by more than 500 million people globally to share files any time from anywhere.
The free app offers various paid service level tiers for businesses, allowing for file sharing and collaboration between multiple sources in an efficient and easily accessible way.
Favorite categorizing tool – Neat.com
Take file sharing a step further by using a tool like Neat to extract key information from your receipts and documents and plug that information into accounting and business software.
The free app captures documents using a mobile app, desktop app, email or a scanner in a way that allows you access to your files from anywhere on any device. Extracted data is converted into words and numbers that create usable data for easier expense reporting.
Favorite expense reporting tool – Expensify.com
A great fit for business owners who travel frequently or who reimburse employees for expenses, Expensify allows automatic reporting and submitting of expense reports and helps sort through which expenses actually require approval.
Any approved reports are disbursed to employees as soon as the next day and any changes in accounting processes are synced in real time.
Favorite multi-tasking tool – Shoeboxed.com
Great for small business owners on the move locally, Shoeboxed is known for its mileage tracking feature. Ideal for anyone who forgets to log mileage using the odometer, Shoeboxed does it for you.
In addition to that, it makes receipting about as easy as it can be by enabling users to turn photos into usable data to create expense reports. More than 1 million businesses worldwide use Shoeboxed to scan and organize receipts, making them one of the most commonly used apps in the market.
The time is now to take back control of how you track, catalogue and maintain receipts for your business because let’s face it – Finding efficient ways to properly file and catalogue your receipts may not be as exciting a resolution as losing 67 pounds, but it’s just as important.