Are you the proud owner of a pile of business receipts tucked away on the side of an office bookshelf?
Maybe instead of a bookshelf, your receipt pile has discovered the security of a manilla envelope?
Or, if you’re my husband, ‘The Pile’ has morphed into a mini-tower on your nightstand that resembles a game of Jenga that’s nearing the end.
At. Any. Moment.
If you’re growing and cultivating a “pile of receipts” in your home or office, instead of a lovely office orchid, it’s time to discover how to handle business receipts the easy way.
I do understand. Entering business expenses, by hand, into your QuickBooks or Xero account is tedious and boring.
So you put it off.
Then sometime in late March with the pressure of tax season upon you, you finally take a cautious peek at ‘The Pile.’
You might even input ten receipts into your accounting system, and realize ‘The Pile’ doesn’t even have a dent. It’s about that time when you have a mini-breakdown, eat all the remaining Girl Scout Cookies in your cupboard, and decide that October 15th is, again, the new due date for your taxes.
The general advice would be to hire an assistant or bookkeeper to do it for you. But for some businesses, hiring it out to a third-party might not be in the budget yet.
What if I told you there’s a cheaper, safe, and more reliable option out there?
Shoeboxed is an online service that helps you organize business receipts – and more.
It scans your business documents, including receipts and business cards, and then stores them securely online.
The beauty of Shoeboxed is that it integrates into QuickBooks and Xero. That means if you use Shoeboxed, you’ll never have to manually copy receipt information into your accounting system again.
I repeat: No more manually entering individual receipt items and how much they cost into QuickBooks.
Handle Your Receipts Like a Boss.
Shoeboxed has multiple plans, from free to enterprise, that can help businesses of all sizes handle their receipts.
If you pay for the Classic plan or higher, Shoeboxed will send you a special “Magic Envelope.”
(To be clear, I didn’t make that up terminology. The company seriously calls it the “Magic Envelope.”)
You stuff it chock full with your receipts, business cards, and anything else you want scanned for your business.
Then mail it off.
The postage’s even pre-paid, so you don’t have to figure out how many stamps it needs or stand in line at the post office.
When your “Magic Envelope” arrives at the Shoeboxed offices, they scan it’s content. If it’s a receipt, the Shoeboxed process includes recording the total.
More impressive? A real-life breathing human-being looks everything over to catch mistakes that might happen during scanning.
There’s a 1-3 day turnaround, and they’ll also mail your docs back to you when they’re done with most plans.
Use their smartphone app for on-the-go business
If you don’t have that many receipts or business cards to scan, you can use the Shoeboxed smart phone app to submit receipts.
Submitting receipts via the app is always free.
So if you’re cheap…this is how you’ll want to use Shoeboxed.
Snap a photo of your receipt with your phone, make a quick note, and it’ll upload the receipt into your Shoeboxed account.
If you’re on the road driving a lot as part of your business, their smartphone app will also track mileage for you. Press a button when you start your trip and again when you’re done.
It’ll compute the IRS mileage rate for that trip and store it.
Don’t forget email receipts
Nowadays, a good chunk of receipts we get are sent via email.
Even my favorite coffee place emails your receipt.
If you use Gmail or Google Apps for Work, Shoeboxed has a tool that can be setup in a few clicks. It’ll check incoming mail and if it suspects it’s a receipt, it’ll upload it into your Shoeboxed account.
The benefit to this is, Shoeboxed can become the one stop repository of all your receipts.
Whether you send the receipt to them in a “Magic Envelope,” use your smartphone to snap a photo, or get a receipt emailed, they’ll all end up in the same convenient and organized spot.
A Quickbooks Gotcha
Shoeboxed isn’t perfect.
For example, you can’t integrate your receipts into Quickbooks with the Free or Lite plan. While you can integrate with Xero on those plan, if you want QuickBooks integration, then you’ve got to pay for their $29.95 Classic plan or higher.
The good news is there are no contracts. It’s month-to-month.
So you can downgrade plans at any time and you’re always given full access to all your receipts. You are not penalized for downgrading plans.
I’ll level with you. Because I don’t have that many business receipts to handle, I also don’t feel like I need to pay for Shoeboxed every single month. Instead I pay for a month of the Classic plan about every 3-4 months.
In between that period, I stuff my leftover Magic Envelope with receipts, business cards, those great sales flyers I come across that I want to keep for future inspiration, etc.
When the Magic Envelope starts to get full, then I pay for a month and send the Magic Envelope on it’s merry way.
The downfall to using Shoeboxed in this infrequent manner is this: If I keep my books up to date, then I’ll have to manually add most of my receipts by hand.
In my case, I primarily use Shoeboxed for the cheap scanning rather than the data entry. I like having all my receipts are in one central location in digital format. I don’t have to handle, organize, and store all those annoying paper scraps. When my Magic Envelopes are returned, I simply plop them in a box, unopened.
Ready to give it a shot? Organized receipts can be yours!
If you’re ready to get a handle on your receipt situation, go and try Shoeboxed free for thirty days.
If you use my affiliate link, you’ll also get 50% off the next two months if you decide to keep using Shoeboxed.
That’s like three months for the price of one.
Pro tip: During your 30-day trial, be sure to signup for the Classic Plan or higher. Then you’ll get to use and test out the “Magic Envelope” system.
And if you have QuickBooks, you can take advantage of that incredible Shoeboxed integration.
Otherwise, if you have any questions – or better yet, a little story or haiku about your receipt situation, be sure to leave a comment below. With tax season around the corner every year, I’m sure there’s a few stories out there about receipts.
Just think…if you signup for Shoeboxed today, you could easily have all those receipts in your books by the end of February.
Now wouldn’t that feel amazing?
Share this post, cause someone you know has the dreaded receipt pile in their office