That can include receipts, especially those for purchases larger than $75. The IRS recommends that you keep certain financial records for at least three years after filing a tax return. The app collects and stores your receipt information, so you can easily retrieve it when you need to, by filtering and searching by keyword. Instead of using a scanner, you download the app on your phone and use your camera to take a photo of the receipt. With this process, you can limit manual data entry. They use Optical Character Recognition (OCR) technology, a process that scans physical documents and creates digital versions of them. This makes it easy to retrieve it from a digital filing system.Īlmost all receipt scanning apps work the same way. What is a receipt scanner app?Ī receipt scanner app takes a photo of your receipt and creates a digital copy. Whether you track receipts to reimburse employee expenses or to prepare for a possible audit, you should keep track of them with one of these best receipt apps.
Receipts play a surprisingly important role in running a business.