Are We Finally Moving On From The Pain Of Paper Receipts?
Hands up if you’ve ever sat there at the end of the month with an envelope full of receipts, your diary and blinding headache as you try to reconcile your expenses.
It’s a nightmare and it’s one that’s familiar to most contractors, consultants, sales reps, basically anyone who has to incur expenses for work.
Drinks, taxis, coffees, stationery, data for your phone – it all adds up and someone, somewhere wants you to account for it.
In the past that’s meant keeping the receipts and scribbling a note to yourself on the back. Then you have the fun of trying to remember just who you bought that coffee for on the 3rd of the month when your diary is a blank.
There has to be a better way, right? Something that takes the receipt at the very moment you swipe your card through the EFTPOS terminal and shoves it straight into Xero. The good news is, it’s already here.
It’s called Paypr and it’s brought to you by the people behind Paymark, New Zealand’s leading digital payments company.
It works like this. You sign up and link Paypr up to your Xero account. From there, download the app (from either iTunes or Google Play) and add your card – it could be a credit card, debit card, good old EFTPOS card or all three. It’s entirely up to you.
Then when you shop at a Paymark store your transaction will appear on your phone in real time. There will be a copy of your receipt and a way to encode the transaction. Buying a gift for a client, or lunch, or paying for parking – it’s all over to you to code the way your business likes it. Once Paypr has seen you code a transaction once, it learns so next time you spend at that store those fields are already filled in for you. Nice.
Paypr is built for expense claims for both your money and your business’s, so you can claim expenses no matter how you incur them, whether it’s on your own card or work’s.
Each transaction is pushed to your Xero account and so at the end of the month instead of sitting down to countless hours of reconciliation. All you have to do is check and approve, taking mere seconds. Time is crucial in business and if you can avoid spending hours each month labouring over your expense admin then that’s time you can spend doing something more productive, or time you can spend on yourself.
Paypr, by Paymark. Because who’s got time to waste on receipts?