As employees, we scan our expense receipts to get reimbursed. But why do companies need to foster this practice within their organization?
Promoting the scan and proper tracking of company expenses will allow leaders to understand where the money is going and what kind of changes they can make to improve the financial health of the business.
Here are some benefits of scanning receipts:
- Allows you to backup all of your information in the cloud.
- Simplifies the filing of expenses and helps you keep track of your income and outcomes.
- Makes it easier to share the receipts with your team, managers, and/or clients.
- Makes any paper into a digital copy, useful for tax purposes.
- Keeps track of expenses on the go.
- Reduces archiving space and clutter.
- Produces accurate invoices and expense reports.
- Minimizes the risk of losing the information if you misplace the piece of paper.
Minute7 allows you to upload pictures of your receipts into our expense tracking system and categorize them properly. Managers or team leaders can approve or reject said receipts and mark them as billable or not billable. This option works both on our website and on the app for iOS or Android.
Since Minute7 integrates seamlessly with QuickBooks, you can see those expenses and timesheets in your QB account with just one click.
Keep your business alive by reviewing your finances closely.