Shoeboxed

Author: Kaitlyn Short

Shoeboxed started in 2007 and has been saving people time and money by turning piles of paper clutter into organized digital data. Shoeboxed has created a simple way to streamline accounting, bookkeeping and tax prep, allowing users to spend less time on paperwork. Shoeboxed has over 1,000,000 accounts in 100 countries. Shoeboxed is based in Durham, North Carolina, Shoeboxed also has growing offices in both San Francisco, California and Sydney, Australia. 

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The Good

• Scan receipts
• Great tools and features
• Organize expenses and receipts

There are so many aspects of personal finance that it can leave you mind spinning. Before you know it you find yourself dazed and confused by all the things that you should be doing. Well, one of those things that everyone should be doing is tracking their expenses. Shoeboxed has an answer for that. Smartphones have made our lives easier in so many ways thanks to apps like Shoeboxed. Using Shoeboxed app users can use their phone to scan in their receipts and create real-time expense reports. There a few other benefits offered by Shoeboxed as well. The benefits of Shoeboxed are so great that national vindicated media sources have taken notice. Here are the benefits you can expect when signing up wit Shoeboxed:

• Receipt Organization
• Expense Reports
• Tax Preparation
• Business Card Management
• Mileage Tracking
• Magic Envelopes

The last service offered may need some explaining. Magic envelopes allow you to categorize your receipts and other paper clutter into easy to find files. Shoeboxed offers a great solution to help organize all those receipts and documents that you'll need down the road. It is the type of solution everyone is looking for when they can't find those papers they know they have laying around somewhere.

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The Bad

• Limited scope of tools
• No spending track
• Narrow target audience

Personal finance is a complex challenge that requires a number of services and tools. While Shoerboxed offers many great benefits the breadth and depth of those benefits leaves a lot to be desired. Shoeboxed is really only a solution to record keeping for tax purposes. There are a few things that everyone should know:

• Shoeboxed is not an investment tool or service.
• There is no credit help.
• Users can not find or track their credit score.
• People can not track their saving goals.

Shoeboxed tracks receipts that means it can help with expense reports, but it will not help you track your spending like many personal finance apps. Really the target audience for Shoeboxed is very specific. The people that need it are people that are seeking the answer to their receipt organizing problems. It is especially needed for people have to file a lot of expense reports or track business expenses for tax purposes.

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The Bottom Line

Shoeboxed is great for what it is made for. It is perfect for anyone who has a lot of business expenses and has to save receipts for tax purposes. The organizing abilities that app offers customers is incredible, but for any personal financial help outside of receipt tracking and expense reports Shoeboxed isn't necessary. Another issue with the Shoeboxed app that may turn some potential users away is that nothing is offered for free. If you want the benefits of Shoeboxed you are going to have to pay for every penny. A few things that stand out to bring everything together:

1. Tools offered by Shoebox are very useful for a very specific audience.
2. Any personal finance needs outside of expense tracking and receipt organizing are not offered by Shoeboxed.
3. The Shoeboxed app is very functional and useful for anyone that signs up for their services.