App Review: Tax Receipt Log
I have been looking at a new mobile application called Tax Receipt Log.
Tax Receipt log is a mobile application that will help you save time (and money) when it comes to your business expenses – we know how hard it is to keep hold of paper receipts!
How does it work?
The application allows you to take a photo of your paper receipts, which save into the application. You can then assign each receipt to an expense category (eg travel, stationary, postage etc) and the application will work out the GST component (or VAT, Sales Tax etc).
The application can then email all your expenses to an email address in excel format, with a copy of all the receipts as JPG files. This will make reconciliation at tax time much easier – and your accountant will love you for this organised format.
Have a look at this video of the application in action:
The Tax Receipt Log application is available for iOS and Android devices.
At a cost of only $4.49AUD this app will give you 100% ROI probably after a couple uses.
Here is the Australian iTunes link of the Application: http://itunes.apple.com/au/app/tax-receipt-log/id427512945?mt=8
For ATO purposes you must keep a copy of business tax expenses/receipts, and a digital copy is accepted.
If you are always collecting a mass of paper tax receipts – consider purchasing this application as it will definitely save you a lot of hassle.
I’ve been using this application and it’s such a time saver.