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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

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receipt standardization tracking system rests

Receipt Standardization & Tracking System (ReSTS)

Michele Majchrowski

ODU CS Major

5 FEB 2008

outline
Outline
  • The Problem
  • Why this is a problem?
  • Evaluation
  • Market
  • Competition
  • Benefits
  • Problems
  • Computer Components
problem paper receipts
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
facts
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/
evaluation electronic receipts
Evaluation: Electronic Receipts
  • Retailers
    • Available
    • Different receipt formats
  • Consumers
    • Scattered amongst many sites
    • Time consuming
    • Manual entry to categorize
potential solution
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
competition
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
benefits of solution
Benefits of Solution
  • Save Time & Resources on both sides
    • less changing of paper receipt rolls
  • Standardization
  • Easy to locate a purchase
  • Easy access
problems with solution
Problems with Solution
  • Retailer compliance and conformance
  • Illegal reproduction of receipts
  • Government intervention by policies
computer components
Computer Components
  • Application Software
  • Internet
  • Wireless / Bluetooth devices
  • Workstations
conclusion
Conclusion
  • Save time
  • Save resources
  • Save energy
  • Save frustration
references
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
references14
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