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In this article
We're excited to introduce an updated receipt scanner, which has been improved with better AI parsing, smarter transaction matching, instant email confirmation and greater reliability.
With Loop's updated receipt scanner, customers can:
Save Time & Money
- Stop manual data entry: Instead of spending hours typing receipt details, just snap a photo - we handle the rest
- Never lose receipts: All your business expenses are automatically saved and organized
Stay Organized Effortlessly
- Automatic matching: We connect your receipts to your bank transactions automatically
- Complete records: Every line item, tax amount, and merchant detail is captured
Perfect for Growing Businesses
- Scale without chaos: Process hundreds of receipts without hiring more staff
- Team collaboration: Multiple team members can submit receipts from anywhere
How it works
- Set up once – head to app.bankonloop.com, head to your settings > expense management > configure your custom email to forward receipts to.
- Forward receipts - got a receipt in your email? Just forward it to your custom address.
- Automatic processing - we read both image attachments and text receipts from emails.
- Email confirmation - you'll get an email back confirming everything was processed.
- No interaction needed - receipts are automatically saved and matched.
FAQ
Q: What types of receipts can you process?
A: Almost any business receipt! Restaurant bills, gas stations, office supplies, grocery stores, retail purchases, service invoices - if it has an amount and merchant name, we can read it.
Q: How accurate is it?
A: Over 95% accurate on clear receipts. We capture every line item, tax amount, merchant details, and even handwritten tips. If a receipt is unclear, we'll let you know so you can double-check.
Q: Do I need to download an app?
A: Nope! Just use your existing WhatsApp or text messaging. For emails, just forward receipts to the email address we provide you.
Q: How does the matching work?
A: We compare your receipt to your recent transactions and look for matches by amount, merchant, and date. If we find exact matches, they're automatically filed. If we find close matches, we'll ask you to pick the right one.
Q: What if you can't find a matching transaction?
A: No problem! We save all receipt details anyway, so you have a complete record. You can manually match it later or just keep it for your records.
Q: Can my whole team use this?
A: Absolutely! Multiple people can text receipts to the same email address. We keep track of who sent what, so everyone's expenses stay organized.
Q: What types of photos work best?
A: Clear, straight photos work best, but we can handle most angles and lighting. Even crumpled receipts usually work fine!
Q: Can I send multiple receipts at once?
A: Yes! You can film a video flipping through multiple receipts, or just emails them one by one. We'll process each one separately.
Q: What about receipts I get by email?
A: Perfect for that! Just forward emails with receipt attachments to your special receipt email address. We can even read receipts that are just text in the email (like from Square or PayPal).
This is a brief blurb that should summarize what loop does. Maybe it will serve as a brief intro to some of the features?
