Receipt scanning software helps you digitally organize your expenditures. Many titles even read the information on your receipt automatically, so you don’t have to input data manually. So if you’re struggling to keep track of your receipts and expenditures, there are quite a few affordable solutions.
We’ve looked into the top-notch choices for all situations to give you well-researched recommendations. For example, business owners on a tight budget might prefer Zoho Expense, which offers a free plan. But businesses that need a little extra may find that Shoeboxed and QuickBooks Online are better suited for their particular needs.
So let’s get into some of the best receipt scanning software of 2023.
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Each software title offers something a little different. Let’s break down the features of each competitor.
| Starting price | Free trial | Automatic receipt scanning | Beginner-friendly | ||
|---|---|---|---|---|---|
| Zoho Expense | $0/mo. (3 users max) | 14 days | Yes | Yes | Try Zoho |
| FreshBooks | $17/mo. | 30 days | Yes | Yes | Try FreshBooks |
| Wave Accounting | $0/mo. | No, product is free | Yes | Yes | Try Wave |
| Expensify | $0/mo. | No, product is free | Yes, limited to 25 scans/mo. for free | Yes | Try Expensify |
| ShoeBoxed | $29/mo | 30 days | Yes, plan limits range from 25 to 300 scans/mo. | Yes | Try ShoeBoxed |
| QuickBooks Online | $30/mo. | 30 days | Yes | Yes | Try QuickBooks |
Zoho Expense is a boon for business owners seeking a straightforward yet feature-rich solution. The cloud-based receipt scanning software solution delivers all the hallmark features, like automatic receipt scanning, richly detailed reports and integrations with popular accounting software packages. The platform also boasts a free plan that supports up to three users.
Thanks to its beginner-friendly interface and affordability, the platform is our top pick. Any business owner can quickly grasp the solution without breaking the bank. Plus, the title plugs in seamlessly with other Zoho solutions. This integration transforms the receipt scanning software into a broader powerhouse of value.
Zoho Expense keeps it simple when it comes to pricing. Here are the software’s four plans:
Learn more in our Zoho Expense review.
FreshBooks is another cloud-based receipt-scanning software solution that offers a wide array of features. But receipts are only a tiny part of the equation. The platform is primarily built for accounting, invoicing and time-tracking. So, if you need broader financial management power, this title delivers.
The platform is ideal for freelancers for several reasons. First, its time-tracking perk makes billing clients per hour a snap. Plus, you can accept credit card payments from within the software. And FreshBooks supports automatic invoices, which is ideal for retainer fees and those with predictable businesses.
Learn more in our FreshBooks review.
Wave Accounting is a free cloud-based accounting software solution. The title is a good option for small businesses on a tight budget. It’s particularly appealing because you can scan an unlimited amount of receipts. Other titles, like Zoho Expense, limit this perk on some plans. So, if you handle a great deal of invoices and receipts, this pick is your perfect match.
The platform is also wonderful because you can use Wave’s other solutions. This menu includes payroll, accounting and invoicing software. You can even tap into certified accountants for live support — for a fee.
Learn more in our Wave Accounting review.
Expensify is a cloud-based receipt scanning software solution designed for businesses of all sizes. The platform is especially appealing to beginners. There is no jargon, and the platform is beautifully straightforward. Anyone, regardless of technical background, can quickly get up and running.
The software also makes it easy for novices to pull data rapidly. You can seamlessly integrate with an enormous amount of apps, including Uber, Lyft and even travel providers like Delta and Kayak. These connections, coupled with automatic receipt scanning, mean you don’t have to input expenses manually.
Like others, Shoeboxed is a cloud-based receipt-scanning software solution for small businesses and freelancers. However, the platform is unique because you can mail in paper receipts. The company then scans these documents for you and inputs the data to your account. This full-service process is affectionately called “Magic Envelope.”
This perk can save you boatloads of time and effort if you deal with vast amounts of traditional paper. It’s also top-notch if you’re switching from an analog paper trail to a digital existence.
Beyond this unique benefit, Shoeboxed is a great solution for beginners. It boasts a beautiful user interface with a cute surfing cat as its mascot. Plus, you get other time-saving perks like automated receipt scanning and auto-filled data.
Features:
QuickBooks Online from Intuit is a popular accounting software solution with a receipt-scanning feature. The platform can feel somewhat intimidating for beginners. But this challenge is a result of the title’s sheer power.
As one of the most popular titles in the accounting world, nearly every financial management need is solved with QuickBooks. You can input receipts at first. But eventually, you can file your taxes, connect to certified accountants and even apply for a loan with the software. Indeed, the platform serves your business from cradle to grave, no matter the size.
Learn more with our QuickBooks Online review.
When choosing receipt scanning software, there are a few key features to consider.
Cloud-based receipt scanning software is more convenient and easier to use. It can be accessed from anywhere with an internet connection. On the other hand, desktop-based titles only work on one device. This local installation gives you more control over your data’s security. Plus, you can still use it without an internet connection, such as when you’re traveling. But it’s also less convenient and makes it harder to share with others.
Many software solutions boast top-notch mobile apps that allow you to input receipts on the go. This portability is especially useful for business owners and employees who travel frequently.
This fancy concept uses optical character recognition (OCR) technology to automatically extract key information from receipts, such as the amount spent, date and vendor. This technology saves you time and effort compared to entering this information by hand.
This perk automatically sorts your receipts into different categories, such as travel, meals and entertainment, to better track your spending and identify areas where you can save money.
Expense reporting is a feature that allows you to generate expense reports that can be submitted to your manager or accountant. This can save you time and effort as you don’t have to manually compile your expense reports each month.
Many receipt scanning software solutions link up with popular accounting software packages, like QuickBooks Online and Xero. These third-party integrations automatically sync your data across both platforms. As a result, you only have to input receipts once, and everything is updated instantly, saving you plenty of time and effort.
We carefully analyzed each platform’s features and used some titles firsthand. We also studied pricing, customer reviews and any limitations. Furthermore, we paid close attention to the receipt scanning capabilities of each platform and how they connect to other accounting software titles.
Your ideal receipt scanning software for small businesses depends on several factors. First, consider how many items you’ll scan per year. Many platforms limit the number of scans you get per month or annually. So, if you have lots of stuff to input, consider a title that delivers unlimited receipt scans, like Wave Accounting.
Second, you’ll want to consider your budget and projected growth. If you’re a smaller entity on a tight budget, free options are available. Zoho Expense is one contender. But there are others that boast lots of perks without a steep price tag.
Finally, decide how much value you place on automatic receipt scanning. Many titles use optical character recognition (OCR) to decipher your receipts’ data automatically. Then, that information is prepopulated for you, saving you time and hassle. But this hands-free technology is sometimes limited per month unless you pay more. So, if this function appeals to you strongly, look for a software title that includes a generous amount of OCR-powered scans.
Read Next: Top Apps for Tracking Business Expenses
