AI driven reciept Scanning and Classification
Optimize Property Expenses for Maximum ROI
Easily scan property receipts on the go—whether from Home Depot or the comfort of your home.
Our goal is to simplify tracking your property expenses and performance. That’s why we’ve introduced real-time receipt scanning with automatic real estate categorization in our iOS mobile app.
Every receipt and invoice you scan provides a comprehensive view of your property expenses. Using TrackTCO’s advanced machine learning and OCR technology, all details such as vendor name, date of the expense, amount and other details are accurately extracted and seamlessly organized. Your transaction data is securely stored in the cloud, ensuring it’s always accessible for tax preparation or audits.
- Smart Scanning: Capture a photo of your invoice or receipt using your smartphone’s camera, and TrackTCO will intelligently scan and save a clear, optimized version.
- Automatic Receipt Alignment: Automatically corrects skewed or angled receipts and invoices for a clean, professional view.
- Image Optimization: Compresses receipt images to ensure fast uploads to the app.
- Optical Character Recognition (OCR): Extracts key details such as vendor name, date, and amount from your receipts or invoices and automatically creates transactions with this information.
- Automatic Categorization for Real Estate: Uses machine learning to categorize each transaction into relevant real estate categories and subcategories.
- Update Prior Transactions**: Easily upload a receipt or invoice image from your camera or photo library and attach it to an existing transaction in TrackTCO to update its details.
- Secure Storage: All receipts are securely stored in TrackTCO’s cloud, hosted on AWS, for easy access during audits or future reference.
Say goodbye to shoeboxes full of misplaced receipts or sifting through credit card and bank statements to find your property expenses. And if you own multiple properties, that multiple receipts over the many years of your ownership.
With TrackTCO, you can track expenses as you pay them and keep everything organized. Snap a photo of a receipt using your phone’s camera or upload PDFs and screen shots from your photo library.
TrackTCO is designed specifically for private homeowners, real estate investors, and self-managing landlords with small portfolios—whether condos, apartments, multifamily units, or single-family homes—TrackTCO integrates seamlessly with your iPhone’s camera, and photo library to help you stay organized and efficient as a landlord.
Features
Maximize Wealth with Proactive Expense Management
Real estate is a cornerstone of long-term wealth, requiring the same proactive
management as any financial portfolio. TrackTCO simplifies this process by consolidating income and expense tracking into one streamlined system, giving property owners and managers a clear, accurate view of their Total Cost of Ownership (TCO).
- Comprehensive Overview: TrackTCO provides a lifetime view of property expenses, delivering a precise understanding of your TCO.
- Enhanced Transparency: The platform’s transparency simplifies expense tracking, strengthens vendor relationships, uncovers cost-saving opportunities, and ultimately maximizes your return on investment.
- Informed Decision-Making: TrackTCO’s insights into spending patterns empower property owners and managers to make informed decisions that directly impact profitability and efficiency. With this visibility, users can see where their money is going and proactively manage costs for better financial outcomes.
VALUE PROPOSITION
Optimize Property Expenses for Maximum ROI
Real estate is a cornerstone of long-term wealth, requiring the same proactive
management as any financial portfolio. TrackTCO simplifies this process by consolidating income and expense tracking into one streamlined system, giving property owners and managers a clear, accurate view of their Total Cost of Ownership (TCO).
- Real estate is a cornerstone of long-term wealth, and just like any financial portfolio, it requires proactive management.
- TrackTCO simplifies the process by streamlining the tracking of all income and expenses tied to property ownership.
- With a comprehensive overview of property expenses over the asset's lifetime, TrackTCO offers a clear, accurate picture of your Total Cost of Ownership (TCO).
- This transparency not only simplifies expense tracking but also strengthens vendor relationships, uncovers cost- saving opportunities, and ultimately maximizes your return on investment.
VALUE PROPOSITION
Maximize Tax Deductions by Optimized Tracking of Expenses
Consider this: according to the legal resource site Nolo.com, missing a $100 deduction could cost a typical middle-class landlord an additional $25 in federal taxes. However, capturing every deductible expense can be time-consuming, and navigating the tax forms to optimize deductions isn’t straightforward. The challenge only grows without a system to organize and track all your documents, income, and expenses efficiently.
The good news? With TrackTCO, a purpose-built property spend management tool, tracking your property expenses becomes simple and seamless. Effectively tracking expenses to help you minimize taxes and save more for your long-term financial goals.
- Maximize Tax Deductions: Keeping detailed financial records helps ensure you capture all eligible deductions, potentially lowering your tax bill. Good record- keeping prevents overlooked deductions and avoids paying more taxes than necessary.
- Monitor Profitability Accurately: With organized financial and rental records, you can keep a close eye on your property's performance. Accurate records reduce the risk of errors on your tax return and help you make informed decisions about your investment.
- Support Financial Planning and Goals: Access to up-to-date financial data allows you to create accurate forecasts and make strategic financial plans. This insight is invaluable for setting and achieving long-term financial goals related to your investment.
- Prepare for Potential Audits: If audited, you’ll need to verify your income and expenses. Detailed records make it easy to substantiate your claims, reducing the risk of penalties or additional taxes if you’re asked to prove the legitimacy of your reported income and deductions.