Most contractors have a pile of receipts somewhere in the workplace, filled with paper receipts from purchases made from years ago. It's almost a full-time job to keep track and separate old from new, know which receipt belongs to which purchase and make sure nothing breaks or disappears.
Fortunately, there is a solution - expense management in our app! (included in the app, completely free of charge)
If your company uses our Qred Visa business card, you can now collect and save company receipts digitally in the Qred app in just a few seconds. All you have to do is take a picture of the receipt, and you'll get a digital copy saved - right in the app. Digital receipts allow you to save time and make life easier for both you and your employees. Ready for bigger investments? Maybe our business loans Is it better for you and your company?
In this article we go through:
- Benefits of Digital Receipts
- How to use our expense management
- How your employees can use the feature
- What applies to digital and paper receipts
Benefits of Digital Receipts
Digital receipts have many advantages. They make it easier to keep track of your company's expenses and give you the ability to check on past purchases to find guarantees, review finances, and the like.
When you use our service, you collect all expenses in one place. We send out a summary to your email every month, containing all the purchases your company has made that month. It gives you a good, simple and neat overview that makes it easier to keep track.
By scanning receipts digitally, you also reduce the chance that it will be wrong. Since the camera adds the receipt, there is no risk that you yourself enter the wrong numbers, dates or the like.
But perhaps most important of all - it saves you time, money and headaches. The time you previously spent manually managing receipts can instead be spent on other things that make the company grow!
How to use Qred's expense management
We say that you have made a purchase in a store and received a paper receipt. Now you should create a digital copy in 5 easy steps!
Our app can be found at App Store or Google Play.
It's done! Now the receipt has been scanned and has been added to the expense report. If you have made a mistake, you can go back and change your expense (step 5), but keep in mind that it must be done within the selected spending period (before you receive your monthly report).
Monthly Report and Counting
We will send you your expense report at the same time as we send you your monthly bill. However, we know that the needs of different companies differ.Something that suits one, may not suit the other. Therefore, we have made it possible for you to choose for yourself when you get them!
Let's go into detail on how it works. You have two choices to choose from:
- (A) The middle of the month - for example, 15 January to 15 February.
- (B) Beginning, until the end of the month - for example, 1 January to 31 January.
So have you chosen (A) then your expenses will start adding up starting January 15th and continuing through February 15th (the date you receive your expense report + monthly bill). After that, the next period will go from February 15 to March 15 - and so on.
Do you choose (B) it works the same way though with different dates - from the beginning of the month, to the end. So your expenses are added up from January 1 until January 31 (31a you get the expense report + monthly bill). The next period begins on February 1 and continues until February 28 - and so on.
Your expense report will be sent as an excel file (.xlsl) to the mail that the owner of the first Qred Visa registered, before ordering the card. You can easily forward the report directly to the company that handles your accounting without having to do anything extra yourself, all the information is already included.
Can my employees scan and document their purchases digitally?
Yep, it's going just great! We have a feature we call multicard, which gives you the ability to hand out cards to your employees (at no extra cost) and still collect all purchases in one place. You don't have to lend your own company card and all your employees have to do is scan the receipt, and you'll have access to it right in the app!
Do I need to save my paper receipt if I have scanned it?
No, as of July 1, 2024, you will no longer need to save physical receipts, as long as you have them in digital format.
Summary
We check out a quick summary of what our expense management does for you!
- Collects all expenses in one place.
- The feature is free and included in our app.
- You can scan receipts and create digital copies.
- Reduces the risk of it going wrong.
- Digital receipts make it easier to manage and archive expenses.
- You save time and money.
- Don't worry about losing receipts.
- Provides you with convenient monthly reports on your purchases that you can easily add to your bookkeeping.
- It's free - the feature automatically accompanies your Qred Visa!
Good luck with the company!