#Shoebox receipts app how to#
To learn how, check out How to Split & Merge Transactions. In the rare event that the system is unable to match the two automatically, it's easy enough to use the "Merge" feature to combine the two transactions into a single record. But paper receipts are also monuments to yesterday. They’re integral to keeping track of your expenses and outgoings, of course. Otherwise, a new transaction will be created for you. Whether you’re running a business, holding client meetings offsite or you travel for work, those little documents have probably seen the inside of your wallet or shoebox. If there's a solid match, the newly scanned receipt will simply be attached to the existing transaction.
Before creating a new transaction, the system will search your transaction history for a matching record with the same vendor, date, and amount. Many investors using Stessa also link their bank and credit card accounts, and Stessa keeps this in mind whenever a receipt is scanned. What if There's Already a Matching Transaction? Makes it easy to see which charges include which specific itemsĪllows for remote access to receipt data, unlike a shoebox or file cabinetįaster than entering transaction details manually Gives your CPA added confidence in the numbers you're submitting Streamlines required tax record-keeping for a potential audit There are a lot of good reasons to get in the habit of scanning the receipts from repairs and other work performed on your rental properties. If you have more than one property, you'll then just need to assign the expense to the correct asset.
You'll often find that the store or vendor name, date, total amount, and (sometimes) category are pre-filled for you. As you can see in the video above, Stessa automatically parses key data in each receipt to create a new expense transaction.