How AI Helps Convert Scanned Receipts to Structured Data

Converting scanned receipts into structured data saves time and reduces manual work. AI-driven tools like Airparser make this process easier. Here, we’ll look at how AI works with receipt data, its benefits, and the steps to set up automated receipt parsing.

Why Convert Scanned Receipts to Structured Data?

Businesses often collect receipts for expenses, reimbursements, and tax purposes. Storing receipts in a structured format allows:

• Easier Tracking: Organized data helps track spending.
• Fast Data Entry: Structured data can directly integrate with finance tools.
• Accurate Reporting: Structured data reduces the chance of human error.

Learn more about using AI for expense management in this article.

What Is Structured Data?

Structured data is organized in a clear format, like tables, with specific fields (e.g., date, amount, vendor name). With structured data, we can:

• Generate Reports: See trends over time or by category.
• Automate Entries: Automatically add data to accounting software.

How AI Extracts Data from Receipts

AI-based parsers, like Airparser, use OCR (Optical Character Recognition) and machine learning to detect text in scanned images, even for different receipt formats.

1. OCR Scanning: OCR detects text on the receipt image.
2. Data Classification: AI identifies key data points (date, vendor, amount).
3. Data Structuring: The tool organizes this data into rows and columns.

Check out our comparison between OCR and GPT-powered data extraction to see how each works.

Benefits of Using Airparser for Receipt Parsing

Airparser uses GPT-powered AI to handle receipts in various formats. Here’s why it’s effective:

• Adaptable: Airparser adapts to changing receipt layouts.
• Easy Setup: Define the fields once, and Airparser handles the rest.
• Integrated: Export data to tools like Google Sheets, CRM, or accounting software.

With Airparser’s document parsing tools, your business can handle even more document types, like invoices and PDFs, in addition to receipts.

Setting Up Receipt Parsing in Airparser

Follow these steps to set up Airparser for automated receipt parsing:

Create an Inbox

• In Airparser, create a unique inbox for receipt emails.
• Send scanned receipts as email attachments or manually upload them.

Define the Extraction Schema

• List the fields you need, like Date, Amount, and Vendor.
• Airparser will parse all incoming receipts based on these fields.

1. Automate the Process

• Use tools like Zapier to automate receipt imports.
• Airparser will parse each new receipt and structure the data.

1. Export the Data

• Download the data in Excel, CSV, or JSON format.
• Set up an integration to send data to Google Sheets or accounting software.

Read about how to automate document extraction in other workflows here.

Automating Expense Management with Airparser

Parsing receipts automatically saves time, but it also improves tracking. By setting up expense categories, companies can organize spending. This automation lets you:

• Auto-fill Expenses: No need to manually input data for every expense.
• Generate Real-Time Reports: See updated expense data as it’s parsed.

For more on automating expenses, see this article.

Real-Life Use Cases of Receipt Parsing with AI

AI receipt parsing is valuable for:

• Expense Reimbursements: Automate employee expense claims.
• Tax Preparation: Organized receipt data simplifies tax season.
• Auditing and Compliance: Structured receipts make audits easier.

Explore more document parsing for various industries here.

Data Security in Receipt Parsing

Airparser takes data security seriously. Receipt data is kept secure, and Airparser does not use it for training. Users can delete data anytime, ensuring full control over sensitive information.

Conclusion

AI-powered tools like Airparser simplify the process of turning scanned receipts into structured data. By automating this task, businesses can save time, reduce errors, and improve expense management. With an easy setup and powerful integration options, Airparser is a reliable solution for automated receipt parsing.