Keeping track of receipts is one of the most tedious parts of managing your expenses. Paper receipts can fade, get misplaced, or accumulate in drawers, which can be stressful. That’s where AI receipt scanner apps come in handy.
AI receipt management tools use Optical Character Recognition (OCR) technology to automatically scan, extract, and digitize receipt data. They eliminate manual data entry and let you track expenses and organize your financial records with less effort.
Here’s a rundown of the best AI tools for receipt management to help you manage your expenses and personal finances.
Expensify: Best for all-in-one expense tracking
Expensify is a popular expense management platform that offers an easy-to-use solution for scanning and storing receipts.
Its SmartScan feature uses AI to automatically extract data from your receipts, categorize expenses, and sync them with your accounting app. Simply snap a photo of any receipt, and Expensify will pull the merchant, date, and amount in more than 150 currencies. It then organizes your expenses into a report, allowing you to submit them for reimbursement.
This all-inclusive AI tool is an excellent tool for both individual and business use. You can manage expenses, book travel, reimburse employees, and create reports. The tool also integrates with more than 45 popular apps, including QuickBooks, NetSuite, Xero, and Workday, making it a valuable tool for companies of all sizes.
Shoeboxed: Best for bulk receipt management
Shoeboxed stands out for bulk receipt management.
Its mobile app allows you to quickly upload receipts from your phone and convert printed text into searchable data. You can also forward receipts to a designated Shoeboxed email address, auto-import digital receipts with a Gmail plug-in, or simply upload your receipts to the cloud.
One of Shoeboxed’s biggest draws is the Magic Envelope service. Mail your paper receipts, and Shoeboxed’s team scans, verifies, and uploads them into your account. For anyone with a backlog, this hands-off option is a lifesaver. The platform combines AI scanning with human verification, giving you more accurate expense reports and tax documentation.
Shoeboxed also provides IRS-accepted digital copies, so you can safely discard paper receipts while staying compliant with tax requirements and reducing physical storage needs.
Wave: Best for freelancers and small businesses
If you’re a solopreneur or run a small business, Wave (formerly Wave Apps) is a strong budget-friendly option.
Wave’s receipt scanner solution, priced at $8 per month, uses OCR technology and AI to read receipt data and upload it directly into Wave’s accounting platform. You can scan unlimited receipts and bulk import up to 10 items at once.
You can also upload and view receipts across all your devices — whether on your phone, desktop, or email — making it ideal for freelancers on the go. Beyond receipt scanning, Wave offers a generous free plan for most of its core features. You can create unlimited estimates, invoices, bills, and bookkeeping records at no cost, and even issue invoices from its mobile app.
Bottom line: Simplify expenses with AI receipt scanner apps
The days of shoeboxes filled with faded receipts are over.
With AI receipt scanner apps, you can automate receipt management, integrate it into your accounting software, and build a more accurate picture of your finances. Whether you’re an individual looking for an AI tool to help manage your personal finances or a business owner wanting to automate receipt management, there are free apps and affordable platforms you can consider.
Read eWEEK’s guides on the best AI tools for personal finance and the best AI shopping assistants to know more about how to take better control of your money and shop smarter.
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