Are you looking for an easy way to keep track of your receipts and business cards?
Are you a business owner who gets overwhelmed with all the receipts and paper work you need to keep track of in order to get through tax season?
The WFHW team has come across a program called Shoeboxed that could help to save you a lot of time and frustration.
What Is Shoeboxed?
Shoeboxed is a secure online expense tracking system that saves families and business owner a ton of time by automating and simplifying tasks such as expense reporting, accounting, tax preparation and contact management.
How Does Shoeboxed Work?
You can mail Shoeboxed your receipts and business cards and they will scan and organize them for you. Once the information is scanned they will either shred the documents to protect your privacy or mail them back to you.
You can use the free Shoeboxed App to scan and sort receipts or business cards yourself. This gives you the added convenience of saving a receipt right after you make a purchase. You can include a note with the receipt for future reference.
Shoeboxed categorizes each receipt according to type and sends you an email to let you know the receipt has been received. Within a business day you’ll be able to view it.
What Are the Benefits Of Shoeboxed?
You can submit receipts saved in your Shoeboxed account for tax deductions. They are stored in a format which is acceptable by the IRS. Receipts can easily be converted to PDF, XLS or CSV format which is great for budgeting. You can easily track daily, weekly or even monthly expenses.
Shoeboxed.com can be used to create invoices for your business clients. You can also integrate it with Freshbooks, QuickBooks or other accounting programs so you don’t have to enter the information twice.
Shoeboxed Has Several Pricing Plans
Lite Plan – For $9.95 per month Shoeboxed will scan up to 50 receipts or business cards for you each month with a turnaround time of three to five business days once received. If you have more than 50 items you can always scan the additional items yourself at no extra charge.
Classic Plan – For $19.95 per month Shoeboxed will scan up to 150 receipts or business cards per month for you with a turnaround rate of two to three business days. Like the Lite plan you get unlimited self scans. The added benefit of this package is you get to use pre-paid envelopes when sending items to Shoeboxed through the mail.
Business Plan – For $49.95 per month Shoeboxed will scan up to 500 receipts and business cards per month for you with a turnaround rate of one to three business days. You also get the unlimited self-scanning option and access to pre-paid envelopes which are available in other plans.
The add benefit of the business plan is that you get a free quarterly back-up CD and a dedicated account manager with access to live support during regular business hours. This is a nice feature to have if you happen to run into any challenges.
Annual Plans – An annual plan could be beneficial for anyone who thinks they might go over the scan limit for any of the plans. Excess scan charges are 30 cent each for the Lite Plan, 20 cents each for the Classic Plan and 15 cents each for the Business Plan.
With the annual plan you get an additional 250 extra scans per you for the Lite Plan, 500 extra scans per year for the Classic Plan and 1000 extra scan per year for the Business Plan.
The costs are $99 per year of the Lite Plan, $199 per year for the Classic Plan and $499 for the Business Plan. The annual plans not only save you money over the monthly plans but you also get more scans.
Shoeboxed Mobile and iPhone apps are available on all the pricing plans. These apps can be download for free from iTunes.
The DIY (Do It Yourself Plan) – With the DIY plan you can use Shoeboxed for free. There is more work involved because you have to scan and organize all the information yourself. You can upload as many images as you like. You also have the option of submitting up to five images from your iPhone which Shoeboxed will extract for you at no extra cost.
Not sure which pricing plan is right for you? Each pricing plan offers a free 30 day trial and allows you to scan up to 50 receipts or business cards during that time period. This gives you a risk free opportunity to test Shoeboxed features and see if it’s right for you.
Who Can Sign Up For Shoeboxed?
Those living in the USA, Canada or Australia can sign up online for Shoeboxed. Only residents living in the USA will receive pre-paid envelopes. Residents in the UK can sign up for Shoeboxed by calling the company and having support set up the account for them.
What Are Some Other Uses For Shoeboxed?
With Shoeboxed you can store documents such as business cards and bills. You can store all your bills in one place so you can easily track and pay them on time.
With the “Multiple User Account’ features you can manage several clients with one account so you can conveniently track expenses and create reports for each client.
What You Should Know About Shoeboxed…
All of the reviews I came across about Shoeboxed were very positive except for one. One business owner spent time organizing all his receipts for the year before mailing them to Shoeboxed.
When he went online to review his account he found that the receipts had all be uploaded and were clearly visible. What he discovered was the receipts were not scanned and organized the way he had laid them out before sending them.
As a result this person spent more time trying to re-organize the receipts than it would have taken him to scan all the receipts himself.
Rather then mailing a years worth of receipts all at once when you sign up for Shoeboxed it would be worth your while to test out the system by mailing a few receipts at a time.
If need be you could always hire someone local to scan the information for you or do it yourself. This will give you an opportunity to ensure that Shoeboxed will work for you before you spend money on a higher priced plan.