It all started last year when it was time to submit the BAS and I was going through a pile of receipts and bank statements to figure out what has been purchased for the past three months. Luckily I remembered most of the items but there were a few purchases from the bank statement I couldn’t figure out.
This made me think that there must be a better way do this. As you can imagine the first thing I did was to go online and search for an existing service or product to help me out. In my search I came across a couple of services but when I explored them a little I soon realised that there is no cost effective solution available. Also none of the service had all the features I wanted, for example, I wanted to be able to tag each receipt and also put comments against them. I also wanted to have multiple organisations and share the account with my staff and accountant so they have access to my receipts.
The next time when I went to see my accountant I asked him the question if he is aware of any product or services in this space, his answer also confirmed that there is no suitable product or services available.
I also spoke to a few more business colleagues and all of them confirmed that either their partner or bookkeeper takes of care their receipts or they do what I do at the end of each quarter.
That is when I had a light bulb moment to solve this issue by starting a cloud based product that is scalable and cost effective for small businesses like myself.
Here we are with our solution and we are excited that it will help many businesses facing the same issue.