1 / 14

Receipt Standardization & Tracking System (ReSTS)

Receipt Standardization & Tracking System (ReSTS) Michele Majchrowski ODU CS Major 5 FEB 2008 Outline The Problem Why this is a problem? Evaluation Market Competition Benefits Problems Computer Components Problem: Paper Receipts Time to categorize Easy to lose Waste of paper

paul2
Download Presentation

Receipt Standardization & Tracking System (ReSTS)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Receipt Standardization & Tracking System (ReSTS) Michele Majchrowski ODU CS Major 5 FEB 2008

  2. Outline • The Problem • Why this is a problem? • Evaluation • Market • Competition • Benefits • Problems • Computer Components

  3. Problem: Paper Receipts • Time to categorize • Easy to lose • Waste of paper • Legibility of the data on the receipt • Fades over time • Reconciliation with • Bank / credit card accounts

  4. Facts • Average of 28 ½ hours is spent preparing for itemized tax returns • Includes receipt storing, locating and categorizing • Budgeting takes many hours every month • 15APR2004. MSNBC. “More time needed for figuring taxes – IRS.” http://www.msnbc.msn.com/id/4749056/ • Money-Zine.Com. “Family Budget Basics.” http://www.money-zine.com/Financial-Planning/Debt-Consolidation/Family-Budget-Basics/

  5. Evaluation: Electronic Receipts • Retailers • Available • Different receipt formats • Consumers • Scattered amongst many sites • Time consuming • Manual entry to categorize

  6. Potential Solution • Retailers • Standardize receipt format • Transmit data to consumer via wireless devices • Consumers • Ability to categorize items as purchased • Transmit data to blackberry or other wireless device

  7. Competition • Cash register retailers • Receipt Printing Companies • Fieldpine • Felitec’s Account Xpress Standardization will ruffle some feathers! • Felitec. Account Xpress. http://www.felitec.com/ax.html • Receipt Printing Formats http://www.fieldpine.com/help/en/edt/receipt_printing.htm

  8. Benefits of Solution • Save Time & Resources on both sides • less changing of paper receipt rolls • Standardization • Easy to locate a purchase • Easy access

  9. Problems with Solution • Retailer compliance and conformance • Illegal reproduction of receipts • Government intervention by policies

  10. Computer Components • Application Software • Internet • Wireless / Bluetooth devices • Workstations

  11. Conclusion • Save time • Save resources • Save energy • Save frustration

  12. QUESTIONS??

  13. References • Receipt Printing Formats. http://www.fieldpine.com/help/en/edt/receipt_printing.htm • Merchant Receipt Capture. http://www.hypercom.com/Documents/whitepapers/ERC.pdf • http://www.receiptwallet.com/products/receiptwallet.php • http://www.patentstorm.us/patents/7280984-description.html • Money-Zine.Com. “Family Budget Basics.” http://www.money-zine.com/Financial-Planning/Debt-Consolidation/Family-Budget-Basics/ • Felitec. http://www.felitec.com/ax.html

  14. References • 15APR2004. MSNBC. “More time needed for figuring taxes – IRS.” http://www.msnbc.msn.com/id/4749056/ • 19DEC2005. “Online Tax Preparation Software.” http://www.web-tax-preparation.com/2005/12/online_tax_prep.html • 6APR2006. “Open Source Tax Software: Wave of the Future?” http://taxes.about.com/b/2006/04/06/open-source-tax-software-wave-of-the-future.htm • SourceForge.net. http://sourceforge.net/projects/taxcodesoftware • 24JAN2008. OpenTaxSolver. http://opentaxsolver.sourceforge.net/ • “Tax Code Software Foundation: News.” http://www.taxcodesoftware.org/ • 19FEB2006. “Nobody happy with revised IRS Free File program.” http://www.normantranscript.com/commerce/local_story_049004521?keyword=secondarystory • http://www.therogerslawfirm.com/Client_Newsletters/Volume3.pdf • http://www.aliciapatterson.org/APF1004/Burnham/Burnham.html • http://blog.ericgoldman.org/personal/archives/2005/08/taxes_attention.html • http://www.totalbusiness.com/Default.aspx?tabid=966 • http://tax.aicpa.org/Resources/Tax+Advocacy+for+Members/IRS+Regulation+and+Administration/AICPA+Asks+IRS+to+Not+Include+Tax+Preparation+Cost+Estimates.htm • http://www.ato.gov.au/corporate/content.asp?doc=/content/37484.htm&page=200

More Related