Torn, screwed up or lost receipts for business expenses
Lets discuss a better system to get the receipts across to your bookkeeper. Contractors and subcontractors within the Construction Industry Scheme find this a significant problem. They will often have deliveries to site or buy materials when they are out and about and so the invoices tend to get lost or mangled before the make it into the office.
In today’s fast-paced business environment, efficiency and accuracy have become essential components of successful financial management. One of the most common challenges business owners face is managing a mountain of paper receipts. Keeping track of business expenses doesn’t have to be a tedious task, thanks to technology. By using smartphone receipt capture apps, capturing business receipts has never been easier, and you can effortlessly send them directly to your bookkeeper.
Why Digital Receipts?
Traditional paper receipts are notorious for being easily lost, damaged, or disorganised. They can lead to inaccuracies in your accounts and create unnecessary stress during tax time. Transitioning to digital receipts not only minimises these issues but also enhances the overall efficiency of your bookkeeping processes. By using a smartphone receipt capture app to capture your business receipts, you’ll spend less time worrying about paperwork and more time focusing on growing your business.
The Right Tools for the Job
There are numerous apps designed specifically for scanning and managing receipts – free and paid. Additionally, some accounting software packages such as Xero accounting have a receipt capture app as part of their offerings. These tools allow you to take a clear photo of your receipt and additionally some will automatically extract key information such as the date, amount, supplier and enter this information into your accounting package. Receipts can then be categorised and easily searched for future reference, which is a significant upgrade from leafing through shoeboxes of faded papers.
See our recommendation for a great free receipt capture app, at the end of this article.
The Process in Three Simple Steps
Step 1 – Capture
The first step is to download and set up your preferred receipt scanning app. Once installed, capturing a receipt is as simple as snapping a photo with your smartphone from within the receipt capture app. Make sure the receipt is in good lighting and capture it from a direct angle to ensure all the details are legible.
Step 2 – Categorise and Review
Some receipt scan apps will simply take a picture of the receipt – which may be all you require, while others have additional features such as the following. After capturing, the app may prompt you to categorise the receipt. Common categories include meals, travel, and office supplies. If the receipt capture app provides automatic data extraction, review the captured details to verify their accuracy. This step ensures that all information is correct before it’s incorporated into your records.
Step 3 – Send
Send to Your Bookkeeper or directly into your accounting package. With the touch of a button, you can share the digital receipt with your bookkeeper. Most receipt capture apps allow you to send receipts via email or directly integrate with your accounting software, such as Xero accounting software, making it easy for your bookkeeper to access the documentation they need for accurate record-keeping.
Benefits of Digital Receipt Capture
- Better Receipt Retention – Easier for staff members to capture their business expense receipts when they are out and about and to forward them on to your bookkeeper or accounting package.
- Accuracy – Automated data extraction minimises human error, ensuring that the financial information your bookkeeper works with is precise.
- Time-Saving – The process reduces the amount of time spent on administrative tasks, freeing up your schedule to focus on core business activities.
- Organisation – Digital receipts can be neatly organised electronically, making it simple to retrieve any document when needed.
Read our full blog post The Advantage of saving Supplier Invoices / Receipts in digital format
Embracing technology in your bookkeeping processes can significantly impact how smoothly your business operates. By capturing business receipts using your smartphone and sending them through to your bookkeeper, you’re not just digitising paperwork — you’re streamlining your entire approach to financial management. Start today and experience the modern way of handling receipts, ensuring your business remains organised, compliant, and ahead of the curve.
Our recommendation for a great free receipt capture app
Genius Scan by The Grizzly Labs is a great option that you can use – you can download it onto your smartphone by going to the below links.
Here is a link to their website if you would like to check them out before downloading.
They have a free version and a paid plan. Here is a link to their plans and pricing information page.
Genius Scan app pricing information page
The free version is great for capturing receipts and is the one we have used. You can capture the receipts and then email them to anyone you like, directly from within the app. Great for when you are out and about and want to capture receipt on the spot and send to you bookkeeper or office – not need to keep the physical receipt to hand over to your bookkeeper. Great for contractors and subcontractors within the construction industry scheme.
Simply download the app, setup the email address to send receipts to (within the app settings) and you are good to go.
Click on the links below to view our instructions on downloading, installing and using the free version of the Genius Scan app for Android and iOS.
Genius Scan for Android – instructions in PDF
Genius Scan for iOS – instructions in PDF
Don’t delay – get in touch with us today to discuss your bookkeeping / business needs.
Disclaimer: The content on our site is for general information only and not professional advice. Always seek professional guidance before acting on any information here. While we strive for accuracy, we cannot guarantee completeness or timeliness of the content.