Expense apps vs shoe box of receipts
•Download as PPTX, PDF•
1 like•232 views
This document compares old manual methods of managing business expenses using physical receipts to modern mobile apps. It notes that with physical receipts, receipts can easily get lost or damaged over time. Using mobile apps allows expenses to be recorded automatically as they occur and receipts can be digitally stored and searched. Apps also make allocating expenses, billing customers, and filing taxes more efficient compared to waiting until the end of the period and dealing with disorganized paper receipts. The document concludes by recommending using an expense management app to more easily stay organized and compliant.
Report
Share
Expense apps vs shoe box of receipts
- 2. Managing your business expenses is a fundamental part of being a business owner.
- 3. Methods have evolved over the years, from the trusty shoebox and box file to today's mobile phone apps.
- 4. Let's see how the old and the new stack up against each other.
- 5. Solo Expenses vs Outsourcing Expense Management Automatic Audit Trail Manual Filing Receipts never get lost because you can record them as you receive them. Happy Day! Letting your receipts pile up can lead to them getting misplaced or lost.
- 6. Solo Expenses vs Outsourcing Expense Management Fast Recording Faded Data Photograph and log your receipts in seconds and print reports instantly. Point, Click, Claim. Ink on receipts can evaporate over time.
- 7. Solo Expenses vs Outsourcing Expense Management Easy Billing Panic Stations! Allocate expenses to the right codes and bill customers as appropriate. Leave your expenses to month, quarter or year end and you face a major headache and mountains of paperwork to sort at the last minute. Eeekk!
- 8. Solo Expenses vs Outsourcing Expense Management Accurate Claims Wrong VAT No more forgotten expenses or late payment charges, and always pay the right tax. Ka-ching! Not keeping tabs on your expenses means you run the risk of claiming the incorrect amount of VAT.
- 9. Solo Expenses vs Outsourcing Expense Management Correct Statutory Payments More Tax Always claim the correct VAT/Sales Tax and GST returns. If you're not offsetting expenses correctly you pay tax on a higher income.
- 10. To read the full blog, visit: https://www.expenseondemand.com/expenses-apps-vs-shoe-box-receipts www.soloexpenses.com
- 11. Welcome to Solo Expenses Your Friendly Finance Manager