Receiptor AI

Happy New Year from the Receiptor AI team ?? Whether you're a bookkeeper, accountant, small business owner, or solopreneur, you guys are our OGs. Looking back on 2024, our hearts are filled with gratitude, pride and joy for everything we have achieved together. Sharing some of our bright moments: 1. Launching our WhatsApp Scanner ???? Many receipts go missing or are forgotten because of the delay between payment and tracking, especially for busy business owners. To solve this, we created an easy-to-adopt feature for smart receipt management. It was a great success, and with all of your positive feedback, we now have an free yet effective Whatsapp integration for all our users! ??Have any feedback to share or feature you'd like to see? Let us know: https://buff.ly/401ZghI 2. Reaching 20,000 clicks on Google search! ?? Started from the bottom, now we're at our 26th Google Search Impact medal this year! 3. Achieving 215,000 total extractions, 2 million processed images, WhatsApp messages and bulk uploads and 1 Million impressions on Google search.?? We are deeply honored to contribute to the accounting space and are excited to continue learning and growing with you. Check out our latest article!: https://buff.ly/49YQiGS We thank you for your unwavering support and feedback throughout 2024. To the many more milestones of 2025! ??

While Santa has elves to keep the North Pole running, you can also have your own green helper, working tirelessly to make your life easier. ??? While the elves turn raw materials into gifts, Receiptor AI turns physical receipts into organized, tax-ready documents. ?? Just like how Santa's team ensures he’s ready for the big night, Receiptor AI ensures your finances are prepared for tax season. ???? Gets smarter every day to help you achieve that North Pole efficiency. If you bought gifts this holiday season, you'll want to keep those receipts in case of any returns or tax season. Here's how Receiptor AI can help keep your holiday season stress-free by organizing all your receipts.

Merry Christmas from all of us at Receiptor AI! Wishing you a season of joy, peace, and perfectly organized receipts!

If you missed our December Product newsletter, here's a recap! ???? Our WhatsApp Scanner just got upgraded, making receipt tracking even easier for busy professionals! We've added smart image validation to prevent those accidental wrong scans from processing. The best part? Our WhatsApp Scanner is still free for all Receiptor AI accounts. Add your whole team and let them scan receipts on the go, no app needed. Small changes that make a big difference in your workday. Try it out and let us know what you think!

"Just write off everything as a business expense" isn't great tax advice. Beyond deductions, there are other strategic ways small business owners can reduce their tax bills, such as charity donations, avoiding SE tax, setting up your business in a tax haven state, or providing small employee gifts. Read more on how to apply these to your business for upcoming 2025 Q1 Taxes in this week's article! https://buff.ly/3VFRw3W

For this week's blog, learn more about what makes an invoice, the different types of invoices, and a bonus free template to start generating professional invoices for your business. https://buff.ly/4gyHMAs

Have you ever wondered the difference between receipts and invoices and why this matters for your bookkeeping? Firstly, Timing ?? Invoices are sent before payment as a request for money, while receipts are given after payment as proof of purchase. Secondly, Purpose ?? Invoices lay out payment terms and serve as a formal request for payment, while receipts act as proof that a transaction has been completed and ownership has transferred. Lastly, Legal weightage ?????? Invoices are legally binding documents requesting future payment, while receipts simply serve as records of completed transactions. Invoices can help to track money owed to your company, future income, and sales that have been dealt with but not paid. These help you plan for your upcoming GST obligations and allow you to make future cash flow projections. On the other hand, receipts track actual income and when it is received and are a record of all completed transactions. Receipts are used as proof for tax-deductible expenses and are used in the reconciliation of bank statements. Knowing this distinction is especially important during tax time. For example, if you have $50,000 in invoices out but only $30,000 in receipts, you know you still have $20,000 to collect and account for in upcoming bookkeeping.

Expense management and spend management are not the same—but understanding the difference can boost your business’s financial strategy. ?? Expense management: Tracks employee-initiated costs like travel, office supplies, and meal reimbursements. It ensures these expenses are compliant and processed correctly. ?? Spend management: Takes a broader view—looking at all company spending, including supplier contracts and procurement. It focuses on optimizing processes and finding cost-saving opportunities. Together, they help streamline operations, reduce waste, and make smarter financial decisions! ??

As we countdown towards Christmas, it's also a great idea to count your business expenses —the easy way with Receiptor AI, of course.????

What's QBI? In simple terms: Make $100,000? Pay taxes on $80,000. Qualified Business Income Deduction lets you subtract up to 20% of your business income from your taxes– but with major tax changes coming in 2025, this might be one of your last chances to take full advantage of it. Who gets this tax break? basically most small businesses. ? Sole proprietors ? Partnership owners ? S corporation shareholders ? LLC members Without proper documentation and income tracking, claiming QBI is challenging. That's why we've created a comprehensive guide to maximizing your tax deductions while you still can. Don't leave money on the table this tax season. Try out Receiptor AI's 30 day free trial to track and organise all your business income now.