Imagine it’s Sunday night, a few days following your most recent business trip. You prepare a stack of receipts and settle down, wondering how long it will take to enter everything into a worksheet.

Is there not a more effective method to accomplish this? Is there any way I could automate my expenses?”

Well, now there is a better way to instantly automate your expenses, using an accounting software receipt scanning software app. 

What is a Receipt Scanning App?

Everything is in the name. This software can scan receipts and invoices into your phone, just like at work. Except! In addition to scanning your receipt, a receipt scanner software can also digitise it for you. It is a mobile app that scans receipts and takes the data from the receipt using optical character recognition (OCR). It converts the image’s data into the text as it recognises it.

You don’t have to manually update the date, seller, amount, or VAT because the information on the receipt is retrieved automatically. You don’t have to do a thing. These tools for receipt scanning make expenditure management easier and free up your time for jobs with more added value. Or to enjoy family time on Sunday nights.

How does Dext Receipt Scanning App Work?

In most situations, the initial step is to scan your receipts. As you receive a receipt for a transaction, use the app to take a photo of it. It will use OCR to process that image and retrieve the necessary data, including the date, seller, payment amount, and VAT.

You can carry on with your day or finish your expenditure and publish it in a few taps using the receipt data saved in the app. The process is simpler if you paid for the item with a corporate card because it will automatically match the card transaction and receipt holder’s name.

And verifiers can also benefit from our apps. It only takes a few seconds for an expense to be verified and approved in the app. When everything is in order, the OCR and AI engine work together to identify any differences, enabling quick approvals. If it isn’t, a visual signal notifies the verifier to conduct a manual check following corporate standards or legal requirements.

Why Use An Automated Receipt Scanning Software App?

If you are still not convinced about how much simpler your job would be with a receipt scanning software app, here are some advantages of having the accounting software mobile app in your hand.

Spend less time recording, submitting, and approving expenses.

No more spending Sunday evenings looking over a stack of receipts and a spreadsheet. Your time and your team’s time are too valuable to be used for low-value physical labour.

The standard approach of submitting an expenditure report typically takes 30 minutes. On the contrary, it only takes a few minutes to upload the expenditures with the receipt scanning software apps. 

Optimise your accounting and bookkeeping.

Forget about the tangled mess of mislabeled receipts that fill your cabinets. Leave the spreadsheets on paper at home. Also, forget manually insert numerous expense lines into your ERP.

With digitised expenses, your ERP or bookkeeping solution automatically transmits all your spending data. It prevents data loss, entry mistakes, and time wasted on manual work that could be done automatically. Everything you require for a stress-free tax clearance is transferred, including a digital receipt image.

Improve security by eliminating fraud and human mistakes.

These easy receipt scanning mobile apps decrease the risk of fraud and human mistakes. There can be no more errors because this software cross-checks the data recovered by the OCR with the data supplied by the user (willing or not).

Additionally, since this compliance requirement covers mileage reimbursement, VAT, and per diem daily allowances, your books are protected from mistakes and malicious intent.

Increased Adherence

The receipt scanning software app, including regulatory and commercial compliance. These easy receipt scanning apps analyse the retrieved data from a scanned receipt and compare it to the company’s spending guidelines. It guarantees that category spending restrictions are adhered to and that claims aren’t submitted for products that aren’t allowed.

Computerised Export and Import of Data

You can easily export all your expenses and receipts automatically into your ERP, accounting programme, or payroll programme. The receipt scanning app has integrated multiple significant tools, like Sage, SAP, Microsoft Dynamics, etc. These expense receipt scanning apps let new users produce and submit expenditures immediately.

Conclusion

It has been demonstrated that using a receipt scanning software app to scan receipts and submit expense reports can boost productivity and employee satisfaction.

These are not only simple to use, but it also saves your staff time throughout the entire expenditure process. Additionally, it safeguards your organisation from financial errors by increasing security and compliance.