Version 3.1.2 of ExpenseMagic aims to take some of the pain out of processing expenses, allowing you to capture expenses on the move with minimal effort.
You take a photo of a receipt, which captures and stores all the important data. You can then either enter the details yourself or pay to let ExpenseMagic’s trained bookkeeping team process it for you.
When your expenses have been processed, you can submit a claim form directly from your phone.
If travelling abroad the app uses your location to set the right currency; data is then sent back to your phone and is available to view online.
There is an app for the iPhone. Android and Blackberry users can email in receipts, or submit receipts via the Dropbox upload folder using their apps or computer.
Version 3.1.2 has three types of service: a free iPhone app, a ‘book-keeper’ service (book-keepers enter unlimited receipts for £9.99 for one month, £6.66 a month for 90 days, £4.17 a month for one year), and a ‘corporate’ service (£4.99 a month, minimum of five users).
The latest version of the app also has as a currency convertor and mileage expenses calcualtor.
Strengths
- The “magic” part is that you can leave the data capture to the ExpenseMagic team. Just take a photo of your receipt and leave it to them to input all the detail
- Guarantee that each receipt claim is 100% accurate as each one checked by accountancy-trained professionals
- ExpenseMagic’s operators even work out your sales tax on each item within the receipt
- Ability to export your receipts in a spreadsheet direct from your phone or through the website, or to other work software such as Dropbox
- You don't have to worry about losing the physical receipt - digitised receipts are accepted by tax authorities
- Site is clear; instructions easy to follow
Weaknesses
- If you let ExpenseMagic’s bookkeeping team do it for you, there’s going to be a delay – you have to wait for it to be processed, rather than inputting the data instantly
Score: 4/5