For years now, there have been different machines and computer programs you can buy to help track your business expenses and manage your receipts. Even with great organization and determination, the of piles of receipts can become overwhelming and distracting.

Can you imagine simply putting your receipts in an envelope and having a digital copy of your receipts easily made with all the details? Well you can stop imagining.
You heard it here. The website www.shoeboxed.com offers scanning of receipts, business cards and other documents. As well, they provide other tools to help you keep track of your expenses. For example, you can use your cell phone’s GPS to automatically track and record business mileage.

How it works

Sign up to one of the Shoeboxed.com plans and you will be ready to get going. You can use your own envelopes to send in your receipts or if you purchase a premium plan you can receive what they call Magic Envelopes ^TM.
Their Magic Envelopes ^TM are postage-paid addressed envelopes that you simply put your receipts into and drop them in the mail. Shoeboxed will then quickly scan your documents and return them to you with another Magic Envelope ^TM for your next set of receipts.
If you prefer, again with a premium plan, you can either have your documents returned or use their free service to securely shred your documents. I would think if you have submitted receipts for capital purchases such as computers, you may want the original receipts back.

All premium plans offer integration with the accounting software Quickbooks and allow multiple users to access the accounts. So you can have your bookkeeper simply login and take a look. If you are the bookkeeper for your business, everything will be organized and ready for you to work with.

Some Details

As reported on the Shoeboxed.com site, both the IRS (in the US) and CRA (in Canada) will accept digital receipts when receipts are required. As well, the OCR (optical character recognition) process which is done on the documents to make the numbers reportable, also works with USD and CDN currencies.
Shoeboxed reports it has signed up over 800,000 business and provides both monthly and annual billing. You can also sign up for a trial version to test the waters.