Statistic data show that a lot of small and medium size businesses struggle with collecting expense receipts, cheques, e-transfers or even cash payment documents. Such inconsistency and lack of proper bookkeeping costs businesses serious problems when it comes to tax matters.
As a result, businesses face substantial fines and penalties by tax authorities and this causes a lot of those businesses to shut down their operations and even declare bankruptcy, simply because business are not able to provide supporting expense documents to the tax authorities when requested. As such, most of expenses that businesses claim and then file with their taxes get disallowed by tax auditors. Hence businesses face substantial tax bills compared to tax amounts that have originally been reported.
This is how founders of Receipt Depot came up with the idea of creating mobile application which will solve thisproblem. Receipt Depot mobile app will help small and medium size business owners to be worry free from collecting and storing each and every expense document, but instead focus on developing their businesses.
Receipt Depot app is featuring “Tap & Go” approach which allows business owners to simply snap the picture of any type of expense document and then have it processed by app itself in a most professional and efficient manner.
One of amazing features of Receipt Depot app is that:
The app will allow businesses to save a lot of time and make it hassle free to find and provide necessary document to anyone at any time especially to tax authorities.
ACCESS ANY OF YOUR EXPENSE DOCUMENTS ANY TIME FROM ANYWHERE