Do you save all your receipts? I have a friend who saves all his receipts and logs all his expenses to keep track of where and how his money is being spent. What he does I think is a great idea, but when I saw how he did it, it seemed very inefficient and time consuming. It was very easy to forget to input a transaction here and there. I told him that there are many iPhone apps out there that help maintain your spending budget. I told him about Mint and Budgettracker and how everything is automated. He liked the idea but didn’t like the idea of the need to link all of his personal accounts together.
I recently discovered Shoeboxed. It’s an online service where they help you keep track of all your spending by organizing all your receipts into a sortable database. All you have to do is send in the receipts. You can send them all together in a prepaid envelope or just take a picture of them with your iPhone and email it to them. That’s probably more convenient than sending them in through first class mail. The process is very simple. I took the following information from the website and pasted them directly below.
- Shoeboxed is easy to use! Simply mail your receipts, business cards, and other documents to us using our postage paid envelopes. Or you can send in photos of receipts and cards with your mobile phone or our iPhone app. And for all those pesky email receipts from vendors like Amazon.com, just forward them directly into your account via email.
- When Shoeboxed receives a document from you, we scan it, OCR extract and human-verify the data that it contains, then categorize and organize the document online in your secure account. You just log-in, and all the work has already been done for you.
- After your documents are processed into your Shoeboxed account, just relax! Everything is ready to be viewed, printed, emailed, downloaded, or exported from your account in a wide variety of formats including PDF, Excel, CSV, QuickBooks, and Quicken file types. You can also integrate your Shoeboxed data with our growing number of partners including FreshBooks, Outright, Evernote, Bill.com, BatchBook, Constant Contact, and many more.
Sounds very simple to me. I haven’t had a chance to try it out yet, so I can’t provide a complete review. But it really does seem like it’s something worth trying out, especially for free for 30 days. The price seems a little steep for me, but for someone who has a lot of transactions, it could be useful, especially for those who run their own businesses.
They have three different levels of subscription service: Business, Classic, and Lite, at $49.95, $19.95, and $9.95 per month respectively. If you opt for an annual service, you will receive 2 months for free. Also, right now, you can get $10 off any mail-in plan with SAVE10.
If you have experience with Shoeboxed, I’d love to hear your thoughts on their service.
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Thanks for the feature, MoneyGreenLife! We can certainly help your friend put our services to use with him having to connect his personal accounts, if doesn’t want to! One of the great features of Shoeboxed is the capability to export to lots of other programs, so we can take your receipts, digitize them, and then YOU can use them as you wish!
Let us know if we can be of any further assistance in helping you stay organized!
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