I just discovered a new service that I find very intriguing.  The service is called Shoeboxed. It is a web based service that lets you track and manage all of your paper receipts.

I am usually pretty good about tracking all of my business expenses using QuickBooks.   However, I often find myself paying cash or using my personal credit card for other deductible expenses.  In these cases, like most small business owners, I keep all of the receipts in a shoebox.  When tax time comes rolling around I end up spending several hours going through all of them and creating a summary report for my accountant.

Shoeboxed to the rescue.  They make the process of managing these receipts very simple.  Once you have an account, you simply mail them your receipts.  They scan and categorize them for you.  You can also scan your own receipts and then upload or email them to your Shoeboxed account.

From there they provide a way for you to manage everything.  You can download receipt data and reports into CSV files for use in Excel, OpenOffice or other software.  Shoeboxed also supports a download directly into Quicken.  You also download reports in PDF format.

Another great feature of the service is that it also supports business cards.  Send them cards you collect along with your receipts and Shoebox will scan them as well.  Contact data can be viewed online or downloaded to Outlook, Gmail and other contact management tools.

Currently, Shoeboxed offers four plan levels: DIY, Lite, Classic and Business.

The DIY plan is free.  With this service you must scan in and upload your own receipts.

The Lite plan is currently $9.95/mo and includes up to 50 receipts or business cards per month.  To catchup for the year they will give you 250 free scans to start.

The Classic plan, their most popular, is $19.95/mo and includes up to 150 receipts or cards per month plus 500 catchup scans.

The Business plan is $49.95/mo and includes 500 receipts per month plus 1000 catchup scans.

With the Lite plan You must cover the cost of postage when sending in your receipts.  After they have been scanned they are shredded and recycled.

With the Classic and Business plans you send in receipts using prepaid envelopes provided by Shoeboxed. Your receipts are returned to you after scanning.

The Business plan includes a quarterly backup CD.  This is available as an option for additional charge on the other plans.

They offer a 30 day free trial that includes up to 50 receipts.  Once you decide to join, if you pay annually you get two months for free.

If you find your self scrambling at tax time or you know your missing out on significant deductions then you need to give Shoeboxed a try.

Click here to visit Shoeboxed.com.

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This entry was posted on Thursday, October 23rd, 2008 at 11:00 pm and is filed under Business Solutions, Product Review. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.