Add inventory costs from receipts

In our continuing efforts to make eCommerce accounting easier, today we announce a big step forward for inventory tracking.

In short, you can now take a picture of your receipt and upload it to Seller Ledger. We use the latest “artificial intelligence” technology to extract item cost information from the image and pre-populate the inventory purchase form.

To show you exactly what’s possible, here is a picture, taken from an iPhone, of a receipt from a trip to our local Marshall’s store:

Within Seller Ledger, if this purchases came in from a linked bank or credit card, make sure to categorize it as “inventory” and then go to Inventory -> Purchases and click “Add details.” If this was a cash purchase, or from a source not connected to Seller Ledger, just go to this same screen and click the “Add Inventory” button.

You will see a new option at the bottom of the screen to “Upload image or pdf”:

upload inventory from receipt

Click the “Upload receipt” button and choose the picture that you took of your receipt (or try the example we’ve posted above.) Seller Ledger will then process the image and extract as much information as possible. In the above example, you will end up with the following:

And scroll down to see the remaining information that we were able to extract from the image…

Notice that we found 4 unique items with descriptions and the correct per-item costs. Not only that, but we were able to recognize the $6.32 in sales tax. And given our recent feature that allocates extra cost of goods amounts, we automatically allocated that $6.32 across the 4 items.

The one piece of work left for you to complete is to either identify or create the unique SKU for each item, which will then allow Seller Ledger to match to sold items, thereby updating inventory and cost of goods amounts automatically when it sells.

To help us improve this feature over time, it helps to get as may customers trying it as possible. Please give it a try and let us know how we can make it better.

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