What scanner do you use to track receipts for taxes???

Tax, SDIRAs & Cost Segregation
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What scanner do you use to track receipts for taxes???

Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

I am looking at www.neat.com

Scans all kinds of documents and what I like is it reads the receipts and auto fills into a report for you for easy tracking and you can ditch the paper.

I even see a mobile application where you can take a picture of the receipt with your phone and throw away the receipt instantly instead of carrying paper around (example business meeting restaurant receipt).

Has anyone used it?? I have a all in one with scanner now but I am looking for something more robust.

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Bob Laughlin
Buffalo, NY · Member since 2015 · 1 post · 2 votes
11y

I use the Zonnins sales tax scanner app.  It works great and is only $.99.  I'm a CPA and I recommend this one to my clients.  I'm sure there are others out there though. 

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  • Account Closed
    Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    13y

    I have several clients that use and love Neatworks,

    0Reply
  • Shannon X.
    Real Estate Investor · Center Moriches, NY · Member since 2011 · 163 posts · 4 votes
    13y

    If you want to look at other ones here is a link to amazon with many reviews on both the neat products as well as others

    http://www.amazon.com/s/ref=nb_sb_ss_i_0_5?url=search-alias%3Daps&field-keywords=neat+scanner&sprefix=neat+%2Caps%2C347

    I myself have wanted to get one

    0Reply
  • David NilesBusiness Member
    Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
    13y

    My gas receipts still get brown bagged and my cpa loves me for it, lol.

    0Reply
  • Tom C.
    Investor · Kingwood, TX · Member since 2012 · 97 posts · 21 votes
    13y

    I like to just snap a quick photo from an iPhone and email the image of the reciept to a gmail account that I use soley for receipts. That way when I leave the store, I don't have to worry about where I put those darn receipts!

    2Reply
  • Joel OwensBusiness Member
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    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    13y

    Thanks everyone. Shannon I looked at some of the reviews but many were from 2008 and 2009 where the marks were 3 stars instead of five so I am sure they have improved the model since then.

    I also looked at the Fujitsu scan snap before and was wondering the difference between the two. The Neat model has auto fill on it for the receipts which I do not know if the scan snap has that or not.

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  • Bryan R.
    Tacoma, WA · Member since 2010 · 203 posts · 93 votes
    13y

    I use a Fujitsu Scansnap and my phone camera in combo with Evernote. A business partner has Neat and been a bit underwhelmed with it.

    I've also been trying out Lemon.com, seems pretty good so far, but too soon to make a recommendation.

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  • Kyle J.
    Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
    13y

    I've also been attracted to the idea of something like the NeatDesk scanner. I mean, the idea is brilliant (if it works). However, I have no experience with a scanner like that (my current scanner is just a traditional one with no bells or whistles).

    My only concern with a NeatDesk scanner (or one like it), and probably the main reason I haven't went out and bought one yet, is that I don't know what kind of file type the scans become.

    For example, if I scan something with my current scanner, I can choose to make the scanned image a PDF which is a common file type and always going to be accessible. However, my assumption (and it's just a guess), is that the NeatDesk probably scans documents into some sort of proprietary file type. If that's the case, what would happen if they stopped making/supporting those scanners and/or the Neat company went out of business? Would I lose access to all of my files at some point?

    Anyway, that was my big concern. Maybe someone who actually has one can chime in.

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  • Account Closed
    Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    13y

    Neatworks does work well. Not only does it capture your receipts but it allows you to create reports, track your expenses and organize them. I have clients that use it for their business records and others that like it for tracking their rental costs.

    0Reply
  • Account Closed
    Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    13y

    Kyle J. the program does allow you to save in other formats. My clients were ale to give me soft copies of reports and docs that I could open in pdf.

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  • Kyle J.
    Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
    13y
    Originally posted by Charles Perkins:
    Kyle J. the program does allow you to save in other formats. My clients were ale to give me soft copies of reports and docs that I could open in pdf.

    Well that's good to know. Thanks Charles Perkins

    0Reply
  • Ron Steele
    Birmingham, AL · Member since 2012 · 108 posts · 10 votes
    13y

    I use expensify... They keep receipts for under $75. Also you can take a picture of your receipt and load it straight to your smart phone. Works good for me...

    0Reply
  • Jon Klaus
    Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    13y

    Jotnot Pro on my iPhone. I'm pretty satisfied.

    0Reply
  • Billy V.
    Investor · El Dorado Hills, CA · Member since 2010 · 64 posts · 15 votes
    13y

    CashTrails for the iPhone. Take a picture, categorize it, and instantly puts it into a report. Takes about 20 seconds per entry so I usually have it done before I even leave a store. It has been great for me.

    0Reply
  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Neat is pretty good. Many just scan them into QuickBooks.

    [email protected]224-381-2660
    0Reply
  • Callum K.
    Rental Property Investor · Tulsa, OK · Member since 2012 · 291 posts · 102 votes
    13y

    Steven Hamilton II Are you referring to PaperSavePlus for QuickBooks? If not, would you mind letting me know what these people do use? I have been wanting to be able to have a solution that allows me to keep the documents in QuickBooks and have contemplated PaperSavePlus, but if there is a cheaper/better solution, I would love to take a look

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  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Callum Kerr,

    I have not used PaperSavePlus, Simply scan them in and attach to a record or transaction.

    [email protected]224-381-2660
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  • Joel OwensBusiness Member
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    OP
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    13y

    So is everyone saying I can just use an app on my phone and take pics of my docs and save that way??

    Neat with coupon is 350 bucks plus their mobile apps try to charge you a monthly fee. It seems expensive. I do not have an Iphone but the new Samsung Galaxy 3S. Do they have an app for that??

    I have an all in one scanner now in my office but it is really slow scanning and sucks up time I could be doing other things.

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  • Callum K.
    Rental Property Investor · Tulsa, OK · Member since 2012 · 291 posts · 102 votes
    13y

    Steven Hamilton II Thanks Steven. I discovered I had QB 2008 and the ability to upload into QB became available in 2012 for free. Just bought QB 2013 and all is good now.

    Joel Owens I went with Jotnot Pro as well and it seems to work well. Now that I can upload it to QB the process looks like it will be simple and easy for me moving forward.

    0Reply
  • Shannon X.
    Real Estate Investor · Center Moriches, NY · Member since 2011 · 163 posts · 4 votes
    13y

    Joel Owens I'm not sure which one you were looking at in regards of the reviews being from 2008/2009 but once you click on reviews and you see the whole list of reviews click on the right hand side were it say's "Newest first" instead of "Most helpful" and you will see current reviews from november.

    I was looking at this one

    http://www.amazon.com/Fujitsu-ScanSnap-Instant-Sheet-Fed-Scanner/product-reviews/B001V9LQH0/ref=cm_cr_pr_top_recent?ie=UTF8&showViewpoints=0&sortBy=bySubmissionDateDescending

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  • Ann Bellamy
    Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    13y

    Joel Owens, for a Droid free scanner app, try "Camscanner".

    For a desktop scanner, the reason I did not buy Neat Desk is one of the reviews I read said that the software that comes with it uses a propriety format. As a result, if you don't have the appropriate software later, you can't access your documents. You may be able to create reports in pdf, but what if it's 5 years later, you're in an audit, and no longer have the software on your pc, because you don't use Neat desk any more and the old software it came with it not compatible with Windows 15? or whatever.

    PDF formats are universal. I bought the Fijitsu Scansnap S1500. It is very fast, does duplex scanning at 40 ppm and comes with Adobe Acrobat. It creates pdf's, not some unknown format.

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  • Joel OwensBusiness Member
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    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    13y

    Thanks. That might be what I lean to as well.

    I do not like systems that keep me chained to their online system and keep charging money. You have no control that way to do what is best for your business.

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  • Gita FaustBusiness Member
    Accountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
    13y

    Want you need is a scanner or a phone to take a picture. But before you even do that, make sure you write the property name and whether is a captial improvement or expense.

    Then you need to either email it to yourself or use a software for document management.
    -- Expensify.com - An online program where you upload your receipt, enter your expense account and property name and integrate with QuickBooks.
    -- QuickBooks - Has a built in document management free in the newer version and download the credit card or bank transactions
    -- Neatreceipts - scan, get a report in excel and then you can import that info into most of the softwares.

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  • John Briggs
    Accountant · Draper, UT · Member since 2012 · 24 posts · 5 votes
    13y

    You have a lot of good answers here as for receipt management. The bottom line is you need to pick something you are going to use and is easy enough for you to want to continue to use it. I also wanted to point out that the one of the main reason's one would keep receipts is to protect your deductions should you be selected for the pleasant experience of being audited. So while you didn't ask this question specifically, I also wanted to point out that if you are writing checks in your business, you want to keep a copy of the cleared check image. In every IRS audit i've dealt with, that cleared check image would have saved everyone a lot of time. Many banks offer this, many don't. I would recommend only using a bank that provides a copy of the checks with the monthly statement.

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  • Loren Whitney
    Investor · North Idaho · Member since 2011 · 332 posts · 107 votes
    13y

    I prefer to use my iPhone for receipts now. TurboScan is a great app for capturing all types of document sizes.

    0Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    13y

    Now I feel old school. I have one big envelope for receipts I haven't yet entered into my accounting software. I have separate envelopes per property. Once I "process" a receipt, I mark it with an X and put it in the related envelope. I keep the envelope with the property binder.

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