Question

How do you track & store receipts for non-reimbursable expenses?

Our company (22 employees) has been looking for a way to match receipts with each transaction in QBO. What software do you use for this?

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#QuickBooks #Expensify #Finance
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kil0ran's avatar
a year ago

Expensify has a reimbursable/non-reimbursable toggle on a per expense basis

3 points
leonsasson's avatar
a year ago

We have used Abacus for a while and worked well, they dealt with the whole reimbursement & expenses process. We're currently on the process to move to either Brex or Divvy and give employees a credit card instead.

2 points
DaveAustin's avatar
@DaveAustin (replying to @leonsasson )
a year ago

I might be old school. But I simply create a zap to email all receipts to a specific Dropbox folder and send them to a bookkeeper.

2 points
forouzani's avatar
a year ago

I have looked for software that handles this well for YEARS. I have never come across anything that works. I only have 2 criteria:

  1. Low overhead enough to be used diligently.
  2. Not too expensive.

Nothing I have found beats criteria 1, let alone 1 & 2.

So I stick to the old strategy of throw it in the shoe box and eventually give it to the bookkeeper.

2 points
em1365992556's avatar
@em1365992556 (replying to @forouzani )
a year ago

Ah, thanks so much for this response! It sounds like you did find expensive software that handles receipts. Do you remember what those were?

1 point
forouzani's avatar
@forouzani (replying to @em1365992556 )
a year ago

No, price wasn't an issue, the main deal breaker was that all the software I tried had too much overhead.

  • I tried taking a photo of the receipt and uploading to Google Drive - organizing in drive, specially across many staff was a pain. Then you also have to enter all the photos into your accounting software afterwards.
  • I tried Evernote, and has the same issues as above, although the Evernote OCR made searching much easier.
  • I tried Wave Receipts - which is actually really good, but it only works with Wave Accounting. If you use QB or Xero, there is no integration.
  • I also tried various smaller apps from the app store. The biggest issue was data entry, and OCR errors, for example reading the wrong date or the wrong amount. When it comes to accounting... any mistakes at all are unacceptable (to me).

Every couple of years I go on a crusade insisting "there must be a better way", always to be disappointed.

I believe QB has their own receipts app, which I have never tried.

Also, Xero acquired HubDoc so they could offer their own receipt scanning app. I have not tried this yet.

2 points
em1365992556's avatar
@em1365992556 (replying to @forouzani )
a year ago

Thanks for response and for validating that this is actually challenging! I was starting to think we were missing something really, really obvious.

We've actually tried QBO receipts:
- Capture is simple: you forward receipts to a dedicated QBO inbox.
- Unfortunately, matching isn't as smart as it is in Expensify or other tools. You need to manually enter both the bank/credit account and account/category for the expense before it matches with an expense in QBO, and even then it doesn't always work. We have a number of expenses that were definitely recorded in QBO but which somehow aren't being matched to an expense and live in receipt limbo.

Going back to Expensify and seeing if receipts port over into QBO easily. Stay tuned!

1 point
dvddmn's avatar
a year ago

Wave (https://www.waveapps.com) might work, I haven't deep dive in it yet for our startup.
But I remember seeing an expense tracker

2 points
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