SparkReceipt Questions

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Q: Bank statement trascations?

Your tiers differ by the number of users and bank statement transactions. What does "bank statement transactions" mean exactly? Is it the number of receipts + bank statements sent to Spark Receipts each month?

itsmaryPLUSDec 16, 2024
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Antti_SparkReceipt

Antti_SparkReceipt

Dec 17, 2024

A: Hi,

Bank statement transactions refer to the amount of transaction lines that can be extracted from PDF/Excel/CSV statements and converted into expenses (or income) using the dedicated bank statement line extraction AI. Receipt scans remain unlimited.

The same credit system will be used for future features such as receipt line item scanning, but details are not yet set in stone regarding that.

Best,
Antti

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Q: Any plans on returning to AppSumo?

Conrad_KPLUSDec 17, 2024
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Q: Balances of each Bank account or Card

Are you planning to include in the app the updated balances of each bank account or card from which expenses are paid and where we deposit income? In order to always have all the updated and totaled balances in the app every time we record an income or expense?

orurbanoPLUSDec 14, 2024
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Antti_SparkReceipt

Antti_SparkReceipt

Dec 16, 2024

A: Hi,

This sounds like a request to integrate with bank feeds. It is planned via Plaid or a similar platform, ideally with a bit better EU coverage.

Best,
Antti

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Q: Budget feature

Do you plan to add a budget feature? One that does not impact results unless expenses are consolidated. This is a very important and useful feature for personal, family, and business expense projections. Please add this feature! It would be a game changer if we can set budgets before we actually make the expense. Additionally, it would be helpful to have a report showing both projected and executed expenses.

capichoDec 14, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 16, 2024

A: Hi,

This is definitely included in our current vision for the product. Just like other tools to help with freelancers' and SMBs' expense management such as a mileage tracker, invoice collection and perhaps simple invoicing features will most likely be included in the future. But only time will tell what the final direction for the product is. We will shape this depending on feedback, surveys, churn tracking and e.g. what is required for custom deals with accounting agencies. Etc etc. Lots of opportunities but limited resources. At least for now. :)

Best,
Antti

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Q: Any plans to integrate with Freshbooks?

LisaRothsteinDec 13, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 14, 2024

A: Hi,

Hard to guarantee at this stage. If we at some point go on an ”integration spree”, then maybe. But there are e.g. Xero and Sage on the list before it.

Best,
Antti

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Q: 3 Code

Is it 900 credits per user ?

iyerha32PLUSDec 12, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 14, 2024

A: Hi,

No, it is the total amount for the whole account.

Hope this helps.

Best,
Antti

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Q: A couple working in the same business, same bank account would need 2 seats or 1 is enough?

2. And for the couple to each install the mobile app on their phone, does it also require 2 seats? Or could the one app be installed on 2 phones with shared login?

3. To share data with accountant, does it require one extra seat for the accountant?

I'm trying to figure out If I would need just 1, 2 or 3 seats
Thanks!

sumo_koalaDec 12, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 12, 2024

A: Hi,

In this scenario you would require 2 seats. Accountant is included so a third is not needed. The shared login scenario can be considered as seat limit circumvention, and while we don't currently have strict measures against it, for the best experience with the system overall I would highly advise you to use separate accounts for tracking! :)

Best,
Antti

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Q: Tier 10 and users

Hi,

Happy to bought Tier 10 with 10 seats but got confused on the display of number of seats available and the Credit. Was down from 3,000 to 2,100 now after 3 members accept the invitation. How it works?

amazingcfoPLUSDec 2, 2024
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Antti_SparkReceipt

Antti_SparkReceipt

Dec 2, 2024

A: Hi,

That is actually a display error when using Linked Accounts and some of the seats are in use within a subaccount. It does not affect the functionality or the amount of credits, and this is an oversight in the application UI. I will fix it as soon as possible. If that is not the case, please ensure all 10 codes are redeemed and be in touch with me at support@sparkreceipt.com.

So with 10 seats you will get 3000 monthly credits, shared across all your linked subaccounts.

Best,
Antti

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Q: Can this tool retrieve invoices from mailboxes (like gmail) and portals (amazon)?

115506304832456381335PLUSDec 12, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 12, 2024

A: Hi,

Not yet, but by combining other tools such as Wellybox and GetMyInvoices / Vuala (had an LTD a while back too) this has been done. It is definitely a product direction we want to support in the future as well. Just requires a bit of resources since it will be a full blown project in itself.

Best,
Antti

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Q: Is there an easy way to use only a percent (%) of an expense?

For example, only want to use 50% of my cell phone expenses for my business because it is 50% personal use and 50% professional use. The only way I could do it now, it seems, is by manually halving the amount.

Thanks!

yblue82Dec 10, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 10, 2024

A: Hi,

Right now, that is correct. We have however planned tools for e.g. splitting and merging expenses, as they are definitely really useful features. For the phone bill case, which is really common I would say a percentage split tool would be best, with an option to transfer the personal part to a subaccount or discard it depending on the use case.

Best,
Antti

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Q: Does this have sage integration?

loladeDec 10, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 10, 2024

A: Hi,

Right now we only have Quickbooks fully integrated. Xero is super requested and will be there as soon as more critical things are tackled. Sage is a good third option to consider. It all depends in which of the planned features we find the best traction to get a good foothold into the market.

Best,
Antti

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Q: Crazy ?- When I scan some docs like expense

I need to save them and email them!! When I scan , can I email to myself of others ??

dr._tracyPLUSOct 28, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Oct 28, 2024

A: Hi,

Sending emails about scanned expenses is not possible on an individual level, unless you use the share options in the mobile app. This will of course allow you to share the image / PDF to e.g. Gmail and send an email, but this is not automated in any way at this time.

Best,
Antti

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Q: Hello, this is a great app! I have a question:

Do you plan to add a budget feature? One that does not impact results unless expenses are consolidated. This is a very important and useful feature for personal, family, and business expense projections. Please add this feature! It would be a game changer if we can set budgets before we actually make the expense. Additionally, it would be helpful to have a report showing both projected and executed expenses.

capichoDec 8, 2024
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Q: I’d like to use this software to track 6 truck drivers daily receipts.

They each typically get 5-10 a day. I add up the daily tickets to pay them accordingly.

Can this app accommodate this type of thing?

116876831662547265626Dec 5, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 6, 2024

A: Hi,

Sure! You will preferably need 7 seats (you + 6 drivers). Create an account, then add the employees with the "contributor" role so they can submit their receipts, but they don't see each other's receipts.

Then you can create an Excel / CSV report for each one with a custom report to see the individual totals. Or, if you prefer to work directly in Excel then you can also generate a report that includes everything, and use the tools in Excel to group the sums using the "submitted by" column.

Hope this helps.

Best Regards,
Antti

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Q: Separating Personal and Business expenses

Hello, is there a tutorial on how excactly I can separate my business expenses from my personal ones? Does it work just with tags or do I have to make a completely new account?
I love the product so far but I can't figure this one out.

Jan_LDec 4, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 4, 2024

A: Hi,

To achieve this look at the Linked Accounts feature. It is found under Account Settings on web and in the main drawer menu on mobile.

When you create new accounts from that view, then you'll have completely separate spaces for personal & business (or multiple businesses or whatever is your use case).

And when you have those multiple accounts, you can use the quick selection menu to switch between them, which can be found in the sidebar (top left) in the web app and on the top right of the main view of the mobile app.

Best,
Antti

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Q: what if receipts are in multiple currencies? It is just for me, so I do not need pro?

randiwintPLUSDec 3, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 4, 2024

A: Hi,

You have one preferred currency (home currency) and receipts in other currencies are then converted to that with the transaction date's market rate.

While the free version has access to most features, it is limited to 15 scans per month, making it mainly suitable for very simple businesses, side hustles and e.g. part-time freelancing needs.

Best,
Antti

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Q: OCR Bulgarian (Cyrillic) Language?

YakovskiPLUSDec 3, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 4, 2024

A: Hi,

This is not yet supported for paper OCR, but digital text in the form of PDFs, CSVs etc can be read. We rely on the Google MLKit Vision for the image OCR and we support new scripts whenever the library gets updated. Currently it supports all latin variant languages, both Chinese variants, Japanese and Indian Devanagari scripts.

Best,
Antti

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Q: Bank Statement Extraction

Can you provide some context in the accuracy of this function.
Can it extract debit and credit transactions independent of the balance on the statement?

john226PLUSNov 30, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Dec 2, 2024

A: The exact accuracy is highly dependent on the quality of the input. Banks seem to be notoriously bad at generating PDFs that conform to the official PDF standard but we do our best to normalize them and fix any issues with them before sending it to the AI.

It can extract both credit and debit transactions, and here again the accuracy is the best when the statement contains explicit plus and minus signs in the sums, and I would be more careful if the data is in e.g. "Money in" and "Money out" tabs, as the internal PDF data rarely reflects this layout accurately. The AI is very good at deducing even in this case, but not correct 100% of the time.

Best,
Antti

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Q: Bank statement transactions

Please clarify what you mean by Bank statement transactions and bank statement extraction? Does the SparkReceipt pull the bank transactions from connected bank accounts and credit cards?

Does it do at least basic reports of expenses to be used for taxes? Recognizes GST? etc...
How do you compare to Wave accounting which works really well especially for us Canadians? I really am not keen on seating all day and scan receipts manually and rather have the transactions pulled., automatically categorized and accounted like in Wave.

Thank you in advance!

egor_ukPLUSNov 29, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Edited Nov 29, 2024

A: Hi Egor,

The bank statement extraction refers to the ability to scan any PDF or CSV bank statements (so not direct pulls from bank feeds, which is on the roadmap). It uses AI to take any format statements and output the transaction lines.

It recognizes GST, VAT and PST (for Canada), and is able to do Excel, CSV and PDF reports with this information.

Wave Accounting is regional and available to only US and CA businesses, so I am not super familiar with it and what it can actually do. Seems like a well-liked and good software. One main difference is that we are not trying to do accounting (yet), and focus more on collecting and categorizing the materials for accounting - with some basic expense and income tracking tools and reporting built in. Receipt and invoice scanning is super essential for most businesses, since a digital transaction from bank feed alone is not enough proof for audits in most countries.

Best,
Antti

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Q: Separate businesses?

If I buy for example 5 or 10 codes... can I separate the usage credits between different businesses I own?

Can I use this for invocies in Swedish too? Or only english?

antonmarklundPLUSNov 28, 2024
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Founder Team
Antti_SparkReceipt

Antti_SparkReceipt

Nov 29, 2024

A: Hi Anton,

The credits are shared between all your subaccounts for different businesses, so if you e.g. have a 1000 credits total you can use them in any account linked to you. The AI can read Swedish invoices fine, SEK is a fully supported currency and the dot-based date format in Sweden (dd.mm.yyyy) is also supported both in display and in data extraction.

Best,
Antti

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