Modernize Your Tax Preparation with ScanSnap

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Modernize Your Tax Preparation with ScanSnap

Tax season is here, are you ready?

The W-2’s, corporate tax returns, endless paperwork, and shoeboxes of receipts. Shoeboxes? Yes, shoeboxes.

As my friends and I discuss our journeys into our 40s, we discuss our childhoods a lot and the things we learned that we still implement today. We also discuss the things that weren’t the greatest of ideas but they worked for everyone at the time.

I know you remember the shoebox of receipts your parents, my parents, everyone’s parents would hand over to their accountants each year to sort through. Until six years ago I still used one. My accountant’s house would look like a shoe store with tennis shoe boxes, dress shoe boxes, loafer’s … well, you get the picture. Each box containing his clients’ year long expenses that he would have to sort through in order to calculate their tax return.

Now, those shoeboxes are obsolete and have been replaced with ScanSnap(s), cloud sharing, digital archiving, and auto-backups.

Every year, the accounting firm that handle business for our company, and several VIP clients here in the Atlanta area, sets up a tax folder for that year. This year they set up “Tax Folder 2014” for all of their clients. This folder resides in an Evernote shared folder that both sides have access to. I have switched most of his clients over to a ScanSnap and away from their all-in-one, always jamming, scanning too slowly, scanners they have been using for years.

The results could not be better. From January 1 until December 31, 2013 these clients scanned into a shared folder all of their receipts, sales tax receipts, ad valorem tax, mortgage statements, bank statements, and anything that an accountant would typically need from a small business in order to create a tax return the next year. Now, at the end of the year there isn’t a need to go searching for missing slips of paper that would otherwise be in a shoebox to drive over to the accountant’s office. The entire year’s worth of tax paperwork is in a shared folder, backed up, the paper has been shredded, and their work is done.

This is also the best possible way to archive this paperwork. By typing in any keyword that relates to these scans, receipts are found in under a second, assuming you utilized the OCR capabilities of ScanSnap’s bundled software. Try that with your shoebox!

On the (small) business side we deal with a lot of current and former employees that are in need of their W-2’s. We’ve found the easiest way to manage that process is to scan them all into Evernote for archiving and easy retrieval (we search by name and instantly find them in our list of 15,000 documents) in case they are in need of a second copy. We literally had to scan in a few hundred W-2’s. Thanks to the ScanSnap iX500 that only took a couple of minutes.

What does your tax time workflow look like?

Patrick Albrecht,
ScanSnap Squad, Small Business