Quickbooks New Feature – Receipt Capture
As business owners we want to take advantage of every write-off that our company has available, right? But, in order to substantiate those write-offs, we need to categorize the expenses correctly and keep proper documentation. Without an easy to use system to organize and track those receipts, they can get out of hand quickly!
The good news is, the accounting software, Quickbooks Online (that I recommend for small business clients) has rolled out a new feature! With any of their subscription packages, you now have access to Receipt Capture.
The new feature offers three methods for capturing the image of the receipt. You can snap a picture using the Quickbooks App on your phone, you can register your email address and forward an email of the receipt to receipts@quickbooks.com, or you can drag and drop PDF files into the cloud based system.
Once the receipt has been loaded into the system, under the Banking section of the software you can review, edit or match the receipts to transactions. And when the transaction has been added or matched, an image of the receipt will be available to view within the system.
Pros of the Quickbooks Online Receipt Capture
- It is included in all the subscription packages and there are no additional fees to use this feature.
- There are 3 methods for capturing the image
- Mobile App
- Forwarding an email (you can also register multiple email addresses to go to the same Quickbooks account)
- Drag and Drop a PDF
- Within the system, you can create expense transactions while viewing an image of the receipt.
Cons of the Quickbooks Online Receipt Capture
- There currently is not a method for that receipt to be saved to a secondary storage device.
If you are looking to outsource your accounting function, this feature could come in quite handy for you.
- Out for a client coffee meeting, snap a picture of your receipt and let your accountant do the rest.
- Setup rules within your email to automatically forward reoccurring receipts and let your accountant do the rest.
- Drag and drop a pdf receipt when checking out on a website and let your accountant do the rest.
If you perform your own accounting function, you can capture the receipts and then comeback at a later point in time to review, edit and match those transactions within your Quickbooks file.
Eliminate stacks of paper in your office or the clutter in your purse! Save time and effort tracking and organizing those receipts with the new Quickbooks feature, receipt capture.
