Receipt scanner apps come with a variety of functionalities, but some of the best ones that can help streamline the process of managing receipts are:
- Optical Character Recognition (OCR): This is the most important feature of any receipt scanner app. It uses OCR technology to extract information from the receipt image and convert it into digital data. This saves time and effort as users do not have to manually enter data into spreadsheets or accounting software.
- Expense Categorization: Once the app has extracted the data, it categorizes the expense and stores it in a digital database. This makes it easier for users to track their expenses and identify areas where they are overspending.
- Multi-Currency Support: This feature allows users to scan receipts in different currencies and automatically convert them to their local currency. This is especially useful for people who travel frequently and need to keep track of expenses in different currencies.
- Smart Document Management: Some receipt scanner apps offer smart document management features that automatically sort receipts by date, vendor, or expense category. This makes it easy for users to find receipts when they need them.
- Cloud Syncing: Receipt scanner apps that offer cloud syncing enable users to access their receipts from multiple devices and share them with other people. This is especially useful for business owners who need to share receipts with their accountants or employees.
- Integrations with Accounting Software: Some receipt scanner apps integrate with accounting software such as QuickBooks, Xero, or FreshBooks. This makes it easy to export receipts directly to accounting software and eliminate the need for manual data entry.
- Smart Search: Smart search allows users to search for receipts using keywords or tags. This feature is especially useful for users who have a large number of receipts and need to find specific ones quickly.
In conclusion, the best receipt scanner apps offer a combination of OCR technology, expense categorization, multi-currency support, smart document management, cloud syncing, integrations with accounting software, and smart search. By choosing a receipt scanner app that offers these functionalities, users can streamline the process of managing receipts and save time and effort.