A $750 supply & equipment run at Office Depot nets you a lot of useful stuff and a receipt printed on thermal paper.
Three months later, you start having trouble with the printer you bought. You dutifully filed it away in your trusty receipt folder, but when you find it, it looks like this.
The date is nearly lost to time already. What happens if you get audited in 2021 for 2018? This receipt will be unreadable by then.
Cheryl Blazej explains her approach to solving the receipt dilemma for her clients:
“When I started in accounting everything was paper based. We attached receipts to paper expense reports and all the documentation traveled together. I realized that even though technology has advanced a thousand miles past that point in time, the process I used – and our clients used – hadn’t changed.
Modern offices don’t search through file folders any more – now they search through computer files. Cloud-based storage has made it easier to keep everything… except things that are paper.
We went looking for an easy and affordable system that allowed for scanning receipts and storing them in the cloud. ReceiptBank was our choice because the process was user friendly and fast!”
ReceiptBank streamlines everything:
- Buy gas and get the receipt
- Take a picture with the ReceiptBank phone app
- When the charge hits the bank account, ReceiptBank and QuickBooks Online work together to match the receipt to the expense
- Get an invoice from a vendor and follow the same procedure to match the expense and the invoice
- The CPA has access to the receipt immediately, if there are questions about the expense
- In the event of an audit, all the records are already there, and there’s no degradation in print quality
Did you know that as a current monthly Blazej Accounting client, you qualify for a free ReceiptBank account?!