A new mobile app called Swipefin is aiming to become the “Tinder of tax prep” by using the same swipe left and right movements employed by the popular dating app, in this case for tracking deductible business expenses.
The app’s developer is targeting freelancers, business owners and independent contractors to help them stay current on their business expense tracking.
The iOS compatible app is free to download, but is currently not available for Android devices. It employs the same swipe left/swipe right user interface as Tinder along with other mobile apps such as Jobr and MailBox. Users swipe right for business expenses and left for personal ones.
Swipefin automatically assigns expenses to an appropriate write-off category to make tax accounting more convenient. Swipefin is partnering with Intuit, and linking to more than 29,000 financial institutions.
“Reliable receipt capture is one of the many ways we’ve been able to modernize tax prep processes,” said Swipefin vice president Kyle Willis in a statement. “However, we’ve also made it a priority to ensure all information is safe and protected. In addition to using the same technology as banks, Swipefin is a read-only’ app. This means it will only display transactional information and no funds are ever able to be accessed.”
In addition to categorizing expenses, Swipefin users can also tap to edit specific transactions, where they then have the option to add a receipt snapshot or compose a memo to describe the expense, such as for a business dinner. The app also offers financial reporting of personal and business expenses and income, along with a colored pie chart showing totals for each write-up category. Next April, Swipefin plans to offer users the ability to export their summary directly to their CPA or favorite tax software.
For more information or to download Swipefin, click here.
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