For decades, IMG Numeri has been managing companies’ accounts. The answer to the question ‘What causes the most headaches in this work?’ would be definitely: receipts. The very receipts whose amounts are mostly not big yet which keep getting lost, thrown away inadvertently or put into the washing machine in the pocket of a pair of jeans. However, once funds have gone out of the company’s account or cash register, yet we are unable to assign in it to the appropriate expense item, it will be impossible to balance the numbers. In the absence of receipts, we are forced to assign any outlays to the profit of the company’s owner, on which income tax has to be paid; as is known only too well, this hardly delights the company’s owner.
The start-up Wizard Finance, active in the field of accounting, has actively set about looking for a solution to this common problem. Their objective is to develop a simple and handy way to digitise receipts and transmit them to a company’s accounting officer. This takes significant amounts of stress out of the accounting officer’s life, as receipts can be sent conveniently to the right person before they are slipped into a pocket or wallet. No messing with cheques, receipts, expense reports or paperwork related to business trips. There will be no more piles of papers or tedious phone calls or correspondence on the subject of finding receipts or requesting their copies. Time taken up by this, however, can be spent on one’s principal activity without worry.
Wizard Finance’s service consists of two components: a mobile app designed for transmitting receipts and an online portal created for accounting officers to manage them. Once a company has joined Wizard Finance, the procedure for transmitting a receipt works as follows:
• the employee who has received a receipt enters the desk of Wizard Finance’s portal using their Google account,
• takes a photo of the receipt with their phone,
• with a click or two, assigns the type of expense and payment method and, if they so desire, a comment by way of clarification,
• the mobile app sends a photo of the receipt to the accounting officer, who sees all the automatically digitised data from the receipt on the online portal.
It goes without saying that the accounting officer can sort receipts as needed, convert them into e-invoices or download them as an Excel table. Generally, the accounting officer has a complete overview of those employees entitled to submit receipts and, if needed, can delete inappropriate expense documents and submit them for reimbursement.
With the introduction of Wizard Finance, the accounting officer will no longer be burdened by seven-year-old stacks of papers on their desk. And if anyone should wish to see a specific receipt, finding it would no longer take a whole working day but rather a few seconds. It is also definitely a positive thing to know that paperless administration helps to conserve nature and makes the work process at your company easier to manage.
Further information on the service is available from IMG Numeri or Wizard Finance’s website http://tsekk.ee/ .