The accounting industry by nature dislikes rapid changes, but new technologies present an excellent opportunity to make tax preparation, payroll, data entry, invoicing, and bookkeeping faster and more efficient. Our mission is to help Accountants by removing the manual task of ‘sorting the shoe-box’ of receipts and manually entering data into accounting systems. Secondary to this our goal is to educate the general public on what they can claim and how best to do so, while not wasting the time of their accountant.
TRAX mobile application is designed for tracking the work-related expenses which can be claimed in Tax Returns. There is automated trip calculation which then provides a live summary of the claim. Work-related expense tracking made easy through simple receipt capture OCR allowing you to scan receipts and keep accurate records of all work-related deductions. Everything is captured in a simple dashboard which exactly pinpoints the tax position at any time of the year, based on salary range tax rate. The app has been developed by accountants for accountants and individuals. It is a way of simply a quickly logging receipts and trips to speed up the onerous task of submitting an annual tax return for both individuals and their accountants, whilst ensuring documentary evidence and compliance.
The plan for TRAX is much more, using the data generated by the early adopters will create a data pool which will be used to develop machine learning for the app to evolve. This will propel innovation in accounting by delivering real-time insights, enhance decision making and catapult efficiency. The opportunity to collaborate with key partners to strategise and explain the numbers through a personalised, informed process will grow as the data sets expand. Providing insight and analysis is the expectation the technology is designed to eventually offer users a mobile accountant for any circumstance.