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How to Organize Receipts for Your Small Business Digitally

By August 29, 2019 August 30th, 2019 No Comments

It’s the last Friday of the month. You’re left staring at a pile of receipts from the past month. Playing catch up with organization can seem daunting, and even more so if you travel often for business. Plus it’s Friday! Who wants to be stuck organizing receipts and reporting expenses on a Friday evening. Fear not: we’ve got some handy tips on how to organize your receipts digitally that will help you avoid this tedious scenario altogether. 

Going Digital

Besides doing your part in protecting planet earth, going paperless with your receipts can help reduce costs, including expenses like paper, printing equipment, ink, cartridges, and other printing supplies, printer maintenance and repair, and shipping and handling. 

But more importantly, filing paper receipts (and invoices) makes it that much harder for tracking and organization. Remember, these documents are important when tax season comes around, particularly if you get audited! 

Using Kashoo to Organize Receipts Digitally 

While there are various different filing systems you can use, such as Dropbox or Google Drive, Kashoo is a great all-in-one solution that will help you keep track of your receipts. After all, both the IRS and the CRA accepts scanned and digital receipts as valid records for tax purposes.

If you’re running a small business, Kashoo also offers many other features (besides receipt tracking) that you can take advantage of as a small business owner. Below are a round-up of some tips to get organized: 

Store Receipts Immediately 

By immediately, we mean literally right after you make the expense purchase and receive your receipt. If you’re consistent with this first task, it will eliminate the need for you to organize a bunch of receipts. Get into the habit of doing this either at the same time each week, or as you go about your day. 

To do this, you’ll need to download the Kashoo app, which is available for both the iPhone and the iPad on iTunes. Once you’ve set up the app, you can start taking photos of your receipts from wherever you are. Snap a photo when you are entering your expense and voila! – you’ll no longer need to keep the physical copy!

If you want to see exactly how we use the Kashoo app for all our iPhone account needs, check out our free iPhone Accounting workshop! Find our workshop schedule here.

Organize & Track Easily 

On Kashoo’s web Dashboard, you can view all your receipts under Expenses and Bills from the  “Income and Expenses” tab on the left-hand column. From there, you can view the Receipt #, Date of purchase, Supplier (if any), Details (notes you left in), Status (i.e. Paid), and dollar amount all at one glance. The search bar also allows for easy navigation. For example, you can search “meals” if you want to only look at meals and entertainment-related expenses for the past month or simply by the client name.

Related: What Can Be Searched In Kashoo’s Search Bar

Filing Receipts from Anywhere

Filing, organizing, and other administrative tasks can not only seem daunting but can be downright boring. But if you could file receipts from your laptop or your phone from anywhere in the world, organizing your receipts can be convenient or even fun! Whether you’re sipping on a mojito in Mexico, or waiting for your delayed flight in London, there is always downtime or a lull during travels that can serve as the perfect time to organize receipts. If you’re traveling for work in London, then that’s a plus. Take a photo of your receipts and upload it directly onto your Kashoo app. From there, you can organize it by adding key information like date, type of expense/category, account used, and notes to make tracking all of your expenses that much easier.

Organize Receipts for your Small Business Digitally Today

If you ever catch yourself on another sunny Friday with plans, don’t be afraid. Organizing your receipts—especially digitally using accounting software like Kashoo—can make your life much easier. By using the tips above, such as storing receipts immediately, organizing and tracking receipts consistently, and using the Kashoo app to file and organize receipts while you’re traveling, you will have all your receipts and expenses in check, in no time. 

Ready to get started? Try Kashoo out for 14 days free, no credit card needed! Or if you’re ready to take the leap towards more organized small business finances, then sign up here and subscribe to Kashoo right from within the app.