IRS ? No Thanks!
Megan is a small business owner. Her business is an internet marketing consulting with a specialty in positioning customers’ display ads. As part of their business activities Megan and his partner Jeff, travel quite a bit from San Francisco to Los Angeles and other cities on the West Coast. Additionally Megan and Jeff handle quite a bit of ads transactions for their customers. Their lives are frantic, always millions of things to do. The business has done quite well recently and to their surprise IRS spot this!
In the last couple of years IRS has audited their books and particularly all their travel expenses and digital transactions. Despite Megan had put effort to save receipts and invoices, each single year IRS found a discrepancy between actual receipts and the bank transactions! Guess which one IRS took as valid, the least of the two?
Despite her good faith, it was difficult for Megan and her partner to save all receipts and invoices and spot discrepancies before putting more $$ into defending the audit. They had hired an accounting firm who used to scan the pile of invoices and receipts and ship them abroad. But even in that cases, and despite the additional processing costs, errors still occurred.
The solution for this intricate tax battle, unexpectedly, comes from Italy and it is called Tabex-Quablo. This is the best program of the type, recognized for his precision and versatility. Its core algorithm was developed by mad scientists in a University, however, believe us, it works and is simple to use.
Tabex-Quablo is able to load large quantities of PDF or scanned tabular files, such as receipts and invoices or financial statements all together and extract specific data from each of these files into one single summary data sheet. Just what Megan needs!
Tabex-Quablo sees a table where others do not see it, it recognizes tables not easy to spot, very irregular Tables (such as a balance sheet in a earning statement), allowing the user to make quick adjustments to the output excel file. It is an ideal solution to convert or copy PDF into excel.
Thereby, Megan will have now a tool to check that the sum of the total receipts and invoices corresponds to the actual bank transactions and save money and time. She will be confident in the absence of discrepancies and will have more time to focus on her important client’s duties. Most importantly…..she will keep the IRS happy and avoid the spike in audit of the last few years. After all, who is looking forward to an IRS audit?
Tabex-Quablo, is available for sale in two different versions, the most advanced version is equipped with an integrated OCR module and convert scanned PDF to excel. It sells at a very affordable price. Tabex will be also available in a full cloud version in 2015.
Tabex-Quablo is useful in many cases including:
- a) A financial analyst trying to export massive earnings statements in to excel for modeling.
- b) An accountant trying to reconcile the overall bank transactions with the actual receipts.
- c) A small business trying to reconcile all the invoices received with their actual bank transactions.
- d) An architectural company trying to archive all the info of their blueprints into specific spreadsheets for report and data analysis.
- e) A government that has received documents from an applicant and needs to compile a summary of numerical data from various portions of the several documents received.
- f) A legal research firm trying to compile data from various documents and various sources into one single report to bring as evidence to trial.
Thus, don’t miss a chance to refer Tabex-Quablo to your friends or colleagues, you’ll spare them an IRS audit!