When we first started blogging, it was just a hobby. Now it has become a full-time income source for 5 people and growing. Our blog is a registered business under our company Awesome Motive Inc. Since it is a legit business, we have to pay taxes and report all of our income to the Internal Revenue Service (IRS), a U.S government agency. Our accountant advised us to keep track of all of our business receipts. At first, we just started storing the receipts in a folder.
After a few months, the folder had gotten out of control. Since some of the receipt paper is heat sensitive, the text was disappearing. We needed to find a better way to organize and keep track of our receipts. We looked at numerous solutions (including a professional receipt scanner like NeatReceipts). None of them worked for us. After a little bit more research, we came across this amazing service called Shoeboxed.
Shoeboxed is an online receipt management service that does everything for you. It is literally the fastest way to turn a folder of receipts into organized digital data. It makes our accounting, bookkeeping, and tax preparation job easy because it integrates with our Quickbook. It is truly a life saver.
How does Shoeboxed work?
We prefer to use the Shoeboxed iPhone app (also available for Android). All we have to do is take a picture of the receipt using the app, and their system takes care of the rest. Each receipt goes through their smart scanning software that extracts all data from your receipt and organize it. It also goes through human data verification to make sure everything was extracted properly.
This keeps us from worrying about losing the receipts. Whether we are at a conference or at a business vacation, all we have to do is quickly take a picture of the receipt and that’s it. Shoeboxed not only extracts the data, but it also keeps the original picture for record.
They also have this mail-in envelope feature that we haven’t utilized as much. Basically for those folks who don’t like using the apps, they have the option to receive a pre-paid envelope. You can put all of your receipts in there and mail it to Shoeboxed. They will scan it in, store all the data, and send your original receipts back to you.
As a business owner who likes to focus on our strength, blogging, Shoeboxed really makes our life easier. Our founder 5 star rating.gives them a perfect out of
You can try Shoeboxed for FREE with their (forever free plan), but this plan is very limited. You can pay $9.95 per month for 50 documents per month. Or you can get their classic plan for $29.95 per month which includes 150 documents per month (this is the plan that we use).
Shoeboxed also has the option for business card management. Since we attend about 12-20 conferences every year, we end up getting quite a bunch of business cards. Instead of hiring a personal assistant or a VA, it just made more sense to eliminate that entire expense by just using Shoeboxed. Take a picture of all the cards you collect using their app. It works similar to how receipts are indexed. Their system will auto-scan and get the data off the card. Then it goes through their human verification process to ensure everything is digitalized properly. Now, you won’t have to lose any of your precious contacts because you lost their business cards.