What is Receipt Cat?
Receipt Cat is an AI-powered receipt scanning and expense tracking app designed to aid small businesses and entrepreneurs manage their finances. The core attributes of the platform include the quick scanning of receipts and invoices, an intuitive drag-and-drop feature, reporting dashboards for viewing expenses over time, and custom categorization of expenses. It also serves as an ideal tool for tax-time preparation by providing itemized business expenses. Additional features entail a free online receipt and invoice generator, availability on the App Store and Google Play, and an improved user-interface catering to data entry by auto-capturing merchant names, taxes, totals, and dates from uploaded receipts.
How does Receipt Cat use AI and OCR for receipt scanning?
Receipt Cat uses AI and OCR technology to scan receipts and invoices swiftly. On receipt scanning, it employs its auto-capture AI to automatically extract and record merchant names, taxes, totals, and dates. This eliminates the need for users to manually input data, thereby providing an efficient and time-saving solution.
Is Receipt Cat available for both iOS and Android?
Yes, Receipt Cat is available for both iOS and Android. Users can download it from the App Store and Google Play Store.
What subscription plans does Receipt Cat offer?
Receipt Cat offers three subscription plans to fit the diverse needs of users. The Starter plan provides free access with a limit of 10 entries per month. The Premium plan, priced at $3.99/month when billed yearly or $4.99/month when billed monthly, grants 50 entries per month. For an unrestricted experience, users can opt for the Unlimited plan which costs $14.99/month when billed yearly or $19.99/month when billed monthly.
How many entries per month does the Starter plan allow?
The Starter plan of Receipt Cat limits the user to 10 entries per month.
How can Receipt Cat help me with my taxes?
Receipt Cat prepares you for tax time by categorizing your business expenses. It aids in filing business taxes by making it easy to itemize your businesses expenses, thereby reducing the pain of tax season. It also provides value-added advice on its blog about how much money should be set aside for taxes.
Can I generate receipts and invoices online for free with Receipt Cat?
Yes, Receipt Cat offers a free online service where users can generate professional receipts and invoices.
What is the drag-and-drop feature mentioned in Receipt Cat?
Receipt Cat's drag-and-drop feature is an innovative design element that allows users to import their digital receipts by merely dragging and dropping them into the app. Post drop, the receipts are securely uploaded and ready for the user's access at any time.
Can Receipt Cat be used to track income as well as expenses?
Yes, Receipt Cat can track both income and expenses, contributing to a holistic view of the financial status and performance of your business.
What kind of data does Receipt Cat's auto-capture AI extract from receipts?
Receipt Cat's auto-capture AI automatically extracts and records information from scanned receipts such as merchant names, taxes, totals, and dates.
Does Receipt Cat offer a reporting dashboard for viewing finances?
Yes, Receipt Cat offers a reporting dashboard that displays the user's expenses and income over time, broken down by categories. This tool enables users to understand their business performance at a glance.
How do I organize my receipts with Receipt Cat?
Receipt Cat allows users to organize their receipts through built-in and custom categories. Furthermore, it enables quick retrieval by allowing users to search for specific receipts.
Does Receipt Cat meet legal record-keeping requirements for receipts?
Yes, Receipt Cat meets legal record-keeping requirements as stipulated by bodies like the IRS, which recommends keeping financial documents for up to seven years. Thus, users can rest assured knowing that their data is securely stored for necessary durations.
Does Receipt Cat offer a feature to search for specific receipts?
Yes, Receipt Cat incorporates a feature that lets users search and find their receipts instantly, allowing quick retrieval of necessary information.
Can I customize the categories for expenses in Receipt Cat?
Yes, Receipt Cat offers the functionality of adding custom categories along with default categories for expenses. This feature, however, is exclusively available in their paid plans.
How can I download my receipts in bulk with Receipt Cat?
Users can download their receipts in bulk via the Receipt Cat application. All uploaded receipts are consolidated and available for bulk download at the user's convenience.
Who is the ideal user for Receipt Cat?
Receipt Cat is ideally suited for freelancers, entrepreneurs, and small businesses. It is designed to cater to part-time or full-time business individuals who don't require complex accounting systems.
Can I sign up for Receipt Cat for free without needing a credit card?
Yes, users can sign up to Receipt Cat without needing a credit card. The app offers a free Starter subscription plan that can be utilized without any financial commitments.
Does Receipt Cat offer any tools or resources for calculators or tax advice?
Yes, Receipt Cat provides several tools and resources such as a free receipt and invoice generator, a monthly revenue forecast calculator, and a blog for tax advice. These resources provide extra assistance to users in managing their business finances.
How secure is my data on Receipt Cat?
Receipt Cat values user security highly. All receipts uploaded onto the platform are securely stored, and all financial documents are kept for up to seven years in alignment with legal record-keeping requirements. Hence, users can have peace of mind about the security of their data on Receipt Cat.