Receipt Scanning/Organizing

[MarinaVanessa]

I am looking for a good and easier way to keep receipts organized and well kept. Right now I scan them using my scanner but it can take some time to get receipts done so im looking for a better way.

I was looking at the Neat system which comes with software and a scanner but with the smaller portable version being $200 and the full size version being $400 I wanted to make sure it was worth it or see If there was a better/faster/easier way.

http://www.tryneat.com/site/tryneat/home.html

Anyone use Neat? What are your experiences?

Anyone have another alternative?7

[daycare]

I am looking for a good and easier way to keep receipts organized and well kept. Right now I scan them using my scanner but it can take some time to get receipts done so im looking for a better way.

I was looking at the Neat system which comes with software and a scanner but with the smaller portable version being $200 and the full size version being $400 I wanted to make sure it was worth it or see If there was a better/faster/easier way.

http://www.tryneat.com/site/tryneat/home.html

Anyone use Neat? What are your experiences?

Anyone have another alternative?7

I was also looking into this and read many reviews that said that it was still premature in its design; with lots of flaws.

I was also told by my CPA that I still had to have the original receipt in case of audit. Perhaps that would be a good question for tom??????

If you find something, please post. I would also love to find something...

[Country Kids]

I was also looking into this and read many reviews that said that it was still premature in its design; with lots of flaws.

I was also told by my CPA that I still had to have the original receipt in case of audit. Perhaps that would be a good question for tom??????

If you find something, please post. I would also love to find something...

Same thing from our accountant so I don't understand taking the extra step to have to scan it. Is there a specific reason for doing that?

[Blackcat31]

I am looking for a good and easier way to keep receipts organized and well kept. Right now I scan them using my scanner but it can take some time to get receipts done so im looking for a better way.

I was looking at the Neat system which comes with software and a scanner but with the smaller portable version being $200 and the full size version being $400 I wanted to make sure it was worth it or see If there was a better/faster/easier way.

http://www.tryneat.com/site/tryneat/home.html

Anyone use Neat? What are your experiences?

Anyone have another alternative?7

A year or so ago we looked into this pretty deeply but decided the scanner I already have works just as well so there was no point in buying the big expensive one Neat offers.

The bigger scanner scans multiple receipts quickly where as the littler one is sloooooow so I didn't bother. Plus, you have to handfeed the receipts one at a time into it and that is way too time consuming for me.

I think there was a thread about scanned receipts a while back....I will try to find it.

[MarinaVanessa]

I was also told by my CPA that I still had to have the original receipt in case of audit. Perhaps that would be a good question for tom??????

Hmm, that is a good question. From reading Tom Copeland's books I know that he recommends making copies of receipts or writing on them with pen because receipts tend to fade over time but I never thought that we would still be required to keep them. It's a good thing that I still do but the majority of them from previous years are not legible anymore because the ink has faded. I hope he chimes in.

[Blackcat31]

Here is the thread about scanned receipts.

https://www.daycare.com/forum/showthread.php?t=25356

Here is what Tom said "Scanning receipts into your computer is a good idea to create a permanent record. I wouldn't throw away your paper records, however. I'm nervous that the IRS might challenge computer records as not being adequate. Until I have more experience with this in audits, I wouldn't recommend throwing them away."

[Blackcat31]

Here is a blog entry from Tom about scanning receipts. He wrote this entry in early 2012.

http://www.tomcopelandblog.com/2012/02/if-you-use-a-scanner-are-receipts-obsolete-.html

[MarinaVanessa]

A year or so ago we looked into this pretty deeply but decided the scanner I already have works just as well so there was no point in buying the big expensive one Neat offers.

The bigger scanner scans multiple receipts quickly where as the littler one is sloooooow so I didn't bother. Plus, you have to handfeed the receipts one at a time into it and that is way too time consuming for me.

I think there was a thread about scanned receipts a while back....I will try to find it.

Okay great thanks. I guess the problem for me was that I have a large printer/scanner/copier upstairs that is hooked up to DH's computer. I work on my laptop downstairs and I wanted to be able to do some of the work downstairs like during nap and such which I can't do now since the kids are downstairs.

I already have to hand feed my receipts into the scanner but it can about 2 minutes per receipt (place on scanner, scan, loads onto computer). The Neat scanner says it can do 2-3 receipts per minute so I was hoping there was something that could cut down on the time it takes me to scan receipts.

Back to net surfing for a better method I go . Or I buy myself a smaller scanner.

[MarinaVanessa]

This one is for both Daycare and CountryKids:

This is off of that website that BlackCat linked:
"If you scan your receipts, do you still need to save the hard copy for three years? No."

So now I'm confused . Maybe it's better to just keep the paper copies too.

[daycare]

Okay great thanks. I guess the problem for me was that I have a large printer/scanner/copier upstairs that is hooked up to DH's computer. I work on my laptop downstairs and I wanted to be able to do some of the work downstairs like during nap and such which I can't do now since the kids are downstairs.

I already have to hand feed my receipts into the scanner but it can about 2 minutes per receipt (place on scanner, scan, loads onto computer). The Neat scanner says it can do 2-3 receipts per minute so I was hoping there was something that could cut down on the time it takes me to scan receipts.

Back to net surfing for a better method I go . Or I buy myself a smaller scanner.

i just bought a wireless scanner, copy, fax for $49.99 on black friday sale..

I love it and it does not take that long to scan. It's still longer time than what the neat desk top claims, but for now its working for me.

I try to scan them as i go along, so that it does not become overwhelming.

[daycare]

This one is for both Daycare and CountryKids:

This is off of that website that BlackCat linked:
"If you scan your receipts, do you still need to save the hard copy for three years? No."

So there you have it .

can you tell my CPA this....please........im up to my elbows in receipts.......

[Blackcat31]

Okay great thanks. I guess the problem for me was that I have a large printer/scanner/copier upstairs that is hooked up to DH's computer. I work on my laptop downstairs and I wanted to be able to do some of the work downstairs like during nap and such which I can't do now since the kids are downstairs.

I already have to hand feed my receipts into the scanner but it can about 2 minutes per receipt (place on scanner, scan, loads onto computer). The Neat scanner says it can do 2-3 receipts per minute so I was hoping there was something that could cut down on the time it takes me to scan receipts.

Back to net surfing for a better method I go . Or I buy myself a smaller scanner.

You are probably better off just buying a smaller receipt scanner. Seems to me the "selling" point to the Neat one is the software. I looked for similar software but couldn't find any so I called them.

After a long conversation with a customer service rep, I decided that what the software actually did was nothing the MMK software didn't already do.

The only difference (besides the actual scanner) was it categories everything automatically for you. Which really in the grand scheme of things was't worth the $500-600 they wanted for it.

Try researching on these links. One of them gives product reviews and the other tells you what things you should look for when searching for the "right" scanner for you.

http://www.consumersearch.com/scanner-reviews

http://www.receiptscannerhq.com/quick-guide-in-buying-the-right-receipt-scanner

[Blackcat31]

This one is for both Daycare and CountryKids:

This is off of that website that BlackCat linked:
"If you scan your receipts, do you still need to save the hard copy for three years? No."

So now I'm confused . Maybe it's better to just keep the paper copies too.

I am guessing that the original quote I posted by Tom as well as his original blog entry about fading receipts had info from 2010 and now two years later he has more knowledge and understanding of what scanning receipts means for the IRS and in the last blog entry he stated we didn't have to save them for 3 years so I would go with that statement.

Plus right below that he says "IRS Revenue Procedure 97-22 says you can throw away records after you have scanned them into your computer. You will need to be able to produce your scanned records at an audit. I recommend saving your scanned records on a flash drive and storing your flash drive in a safe place (such as a safe deposit box)."

[MamaBearCanada]

If you have an I-phone there are lots of apps where you just take a photo of the receipt and it can break down the info in different categories and send to your computer. Search 'scan receipt' in the app store. Some are free.

[MarinaVanessa]

Ahh ok I gotcha BlackCat. Thanks so much. I have to agree ... the software was what I originally liked but I was under the assumption that the scanner scanned the receipt and that it then was loaded onto the software which pulled up all of the info on the receipt and entered it manually. I'd have to enter it into MMK anyway so it's kinda moot to have to enter it twice (once into Neat software and again into MMK).


Thanks again ladies, you're all fabulous. Amazon here I come for a smaller scanner .

If you have an I-phone there are lots of apps where you just take a photo of the receipt and it can break down the info in different categories and send to your computer. Search 'scan receipt' in the app store. Some are free.

This is interesting, I'll look into it. I specifically need something that I can scan my receipts with and then save them to my pin drive (used for receipts only). Then monthly I burn them all onto a **** (Jan will have Jan, february will have Jan and Feb and I throw the previous one out etc.) but this is deffinetely worth looking into thanks!!