If you need a great system to track your paper and electronic receipts, then you should check out the Lemon app for iPhone, iPod Touch, and iPad. It syncs with all of your devices, as well as with an online account to manage your expenses in a secure, simple, and easily accessible way. The Lemon app is perfect for small businesses and entrepreneurs, but the developers at Lemon Inc. have created a product that can grow and expand with your business.
You store your paper receipts by snapping a photo of the receipt with your device’s camera. The Lemon app pulls out the pertinent information like payee, date, time, and amount. You then choose how to categorize the expense. One of the great features is the ability to click multiple categories. For example, you click “business” and “check.” The Lemon app allows you to customize the categories to suit your financial record system.
After you upload the receipts, you need to confirm that the information pulled from the picture is accurate. So, you have an extra step to double check your information. This may seem to be a laborious, unnecessary second step, but tracking your expenses is serious business and a thorough eye makes for an easier process at tax time.
Another neat feature offered by the Lemon iPhone, iPod Touch, and iPad app is the ability to email electronic receipts to your lemon.com account. You scan and store the information from electronic receipts in the online application and categorize with your traditional paper receipts.
You create and email customized reports directly from the Lemon iPhone, iPod Touch, and iPad app. With just a few touches, you can choose date range, categories, payees, and other sorting options. The report can be emailed as a csv, xls, or pdf. These reports are great tools to watch how your expenses change month to month or week to week. These reports are also great ways to store and sort for tax purposes.
For any new Lemon iPhone, iPod Touch, and iPad app users, you should spend time creating your categories. If you are a consultant who is reimbursed for specific expenses, you’ll want to track them by client. Or, if you are a real estate investor, you may want to track expenses by property. If you have employees or larger organizations, you may consult Lemon Inc. regarding options for multiple users and specific needs.
The Lemon iPhone, iPod Touch, and iPad app is a tremendous value for the results it produces. It is not easy to create one product that digitizes paper receipts and syncs electronic receipts, but Lemon Inc. has.
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