When claiming your expenses, having a receipt is key. Without this, claiming back an expense can be incredibly tricky. As you may already know, receipts are prone to becoming damaged, misplaced or even thrown away by mistake. And when sitting amongst piles of paperwork, they can be even easier to lose. Thankfully, receipt scanning is an easy way to convert paper receipts into digital documents, ready for reimbursement.
What is a receipt scanner?
A receipt scanner is a device which captures receipts using optical character recognition (otherwise known as OCR). A receipt scanner uses software to extract relevant information from receipts including currency, VAT and amounts.
Whilst there are physical devices available that will do this for you, MyExpenseZone provides a far simpler solution. Our receipt scanner allows you to use your smart phone camera through our app. In just seconds, you can snap a photo of your receipt and a digital copy will be created.
Why use an expense app for receipt scanning?
Let’s imagine you’ve been on a business trip and managed to keep hold of all your receipts collated on your travels. Firstly, well done, as it is incredibly hard to do this. Now it’s time to send your receipts, mileage and per diem for approval. A finance/accounting team will review this and finally, you will be reimbursed. Depending on your workplace, you may have to submit claims via a form or spreadsheet. Whichever method your workplace uses, you will have to enter all data manually which is when mistakes tend to occur.
If mistakes are made, this will cost your workplace time and resources to correct. It takes approximately 18 minutes to correct an incorrect expense claim.
Using an OCR scanner from an expense app allows you to record and submit your expenses in just a few clicks, along with maintaining maximum levels of accuracy. This method also allows you to submit expenses anytime, anywhere.
MyExpenseZone’s receipt scanner
Not only does our receipt scanner allow you to create a digital copy of your receipt, it also collects relevant data from your receipts including language, currency, tax and amount. Should you see an error, simply amend the data before saving and submitting. The app even warns you about submitting duplicate expenses.
Our receipt scanner allows instant submission of expenses. It can be done wherever you are, providing a fast, accurate and accessible expense reports.
Want to find out more?
If you wish to find out more about MyExpenseZone and how we can help save you time and resources, contact us today.