Small business owners will be able to track expenses more easily with a new addition to the American Express OPEN toolbox.
The new service, ReceiptMatch, simplifies bookkeeping for small businesses by digitizing receipts. Cardholders snap a picture of any receipt from a purchase made with their American Express business card and the photo will automatically be uploaded to their online account page, where it will be matched with the transaction line item. Users can also add notes to the transaction, typing them in along with the photo to have them added to their account statements.
No more shoeboxes
After taking a picture of the receipt and uploading it via the mobile app, by email, or from a computer, ReceiptMatch will scan the image for purchase date, price, and merchant name, and then match it to the transaction. Cardholders can view, sort, print, and save transaction details online, eliminating the need for paper receipt storage.
The service is free with any American Express business credit card, and the ReceiptMatch app works with Android or iPhone operating systems. Cardholders can also email receipts to email@example.com to have them uploaded to their account.
A suite of services
ReceiptMatch is just one of the tools American Express offers its small business cardholders. Whether they have the Plum Card, the Business Platinum Card, or the Gold Delta SkyMiles card, all OPEN business cards from American Express offer the following benefits and services:
- Spending limits for employee cards – business owners can make their employees authorized card users without worry by putting spending limits in place. When the card has reached its limit, the primary cardholder gets a text or email alert.
- Account manager privileges for partners or assistants – let the people you trust have access to statements and the ability to make payments on the card, using the Account Manager feature.
- Year-end summary reports – get a quick picture of business expenses, making tax time easier by breaking down spending into customizable categories. Download activity into QuickBooks, Quicken or Microsoft Money to make accounting even easier.
In addition to accounting and budgeting tools, American Express also offers business owners ways to save money and accrue rewards. American Express OPEN Savings, which is a feature of all their business credit cards, offers discounts at partner merchants such as FedEx, Hertz, Hyatt, Marriot and OfficeMax. Cardholders can save up to 10% or get additional Membership Reward points on all partner merchant purchases.