Receipt Capture
Receipt capture is a digital solution that enables businesses and individuals to scan, store, and organize receipts electronically using mobile apps or accounting software. Instead of keeping physical copies, users can take a photo or upload a digital receipt, and OCR (Optical Character Recognition) technology extracts key details such as date, vendor, amount, and payment method. This eliminates manual data entry and ensures expenses are accurately categorized for tax filing and financial reporting. Receipt capture is particularly useful for expense reimbursements, tax audits, and compliance tracking, as it allows businesses to maintain a digital archive of all transactions. Many expense management tools integrate with receipt capture to automate approvals, generate reports, and streamline bookkeeping, making financial management more efficient and organized.
