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    February-2013  


Streamlining Record-Keeping Needed As IRS Becoming More Demanding

Lately, the IRS has been particularly fussy in the matter of business receipts.

Reports are circulating that IRS auditors of small business owners have been demanding detailed receipt records.

To ease this added burden there is a growing trend to use cloud technology to maintain detailed records along with receipts.

Moreover, these available products allow users to assign receipts by category.

One such provider is Concur which offers an integrated travel- and expense-management The company says its clients can manage and eliminate paper from their businesses.
With the introduction of the Receipt Store–which enables individuals to e-mail their receipt images to a central repository and easily assign them to line-item expenses–Concur clients now have more choices for managing receipts and invoice images and eliminating the costs associated with handling all that paper.

Rajeev Singh, president and chief operating officer of Concur says: “We now process over three million images a month, with the total number of images processed to date for our clients now approaching 100 million. These latest innovations help employees to quickly and easily submit expenses and provide their companies with enhanced visibility into the line item details of every expense report.”

Concur introduced receipt imaging to the expense-reporting process more than 10 years ago, and offers other paperless services at no extra cost to clients, including:

  • New Receipt Store. Users can e-mail receipt images from any source to a central receipt repository and easily access those secure images in order to assign them to specific expense line items. The increased visibility at the line-item level makes it easier to audit expense reports or flag expense reports missing receipts for specific expenses.
  • Mobile Receipt Imaging. Concur clients can use their SmartPhone camera to capture receipt images at the point of purchase and instantly attach them to their expense report or send them to the Receipt Store for later use.
  • Fax/Scan and Attach. Using any fax machine, desktop scanner or all-in-one device, users can automatically attach their receipt images to the appropriate report.
  • E-Receipts. With this feature, exclusive to Concur, according to the company, participating suppliers send complete electronic receipts with comprehensive folio data directly to the Concur expense report, where it is automatically matched with credit-card and itinerary data to produce Smart Expenses™ that require no additional approvals.

Concur also provides extended services for clients that would like offload the entire imaging process including:

  • Receipt Service. Specifically designed for organizations that handle high volumes of paper or who want to lighten the load for their employees.
  • Invoice Capture. One central location processes all invoices, whether paper, e-mail or fax, to help streamline the invoice payment process.

For more information, visit www.concur.com.


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