How Shoeboxed Enables You To Throw Out Your Shoebox

Every small business owner knows that there simply isn’t enough time in any given day. We all know that, from time to time, we tend to “wing it” when it comes to administrative backup and don’t always do what we’re supposed to do when it comes to keeping track of records. When we’re out and about, spending money here or there on business purchases, we are often not as careful as we should be when it comes to keeping track of those receipts. Sometimes these receipts are printed on paper that easily fades away over time and yet we often just stuff all these pieces of paper randomly into a shoebox, in the corner of the office.

Of course, that shoebox becomes overstuffed and overflowing by the time the end of the month comes around and it seems that many of us don’t pay attention to this particular chore until we really have to. Now, some of the paperwork in here has somewhat faded, is difficult to read or may be difficult to recall. If you don’t know what that receipt is telling you, how can you make use of it and create an important entry into your annual accounts for tax purposes?

Enter Shoeboxed, which is I think just the perfect company name for this operation. It immediately sums up what they’re trying to achieve, which is to make sure that you don’t have one of those old shoe boxes in the corner of your office anymore. Now, it’s quite easy to keep track of all these receipts and not only financial documents, but also important new business cards that you may pick up.

The idea is relatively simple. All you need to do is to forward all of these pieces of paper to the organisation and they scan it in carefully, entering data and organising it meticulously for you. Most people may choose the scan and automatically send to your designated e-mail “inbox” option, but you also have the option of mailing in using prepaid envelopes supplied to you as part of your membership.

Small business owners can choose to have as many as 50 individual receipts or business cards scanned in on a monthly basis for the lowest entry price point. Shoeboxed promises an average turnaround of between three and five business days after they are received, before the information is available to you through their portal. If you are self-scanning, of course, there are no restrictions to the number of records that you can process. Business owners who have quite a considerable number of receipts to handle on a monthly basis can take advantage of one of the larger plans, where a dedicated account manager is ready to help you should you run into problems and they will also provide you with a quarterly backup CD, as well.

What can you do with these receipts once they are in the system? The software enables summaries to be provided via PDF or Excel and it also integrates with solutions such as QuickBooks, Freshbooks or Quicken. Thus, you can sync all your receipts and not have to worry about racking your brains to try and figure out what a particular piece of paper is supposed to be telling you at month-end.

How do you “store” with YOUR source documents?  ….