Once you sign up, you will receive a stamped and return-addressed envelope in the mail. This is for you to collect your receipts over the coming month. Place it in a convenient location, such as near the door, so that you can easily add receipts to it as they come in. At the end of the month, add a copy of any bank statements or credit card statements you have. Many transactions only show up on statements (ex: automatic deductions, payroll deposits, transactions for which you did not take a receipt). You can also send us a downloaded file of your transactions if you prefer.
When the month is over, simply drop the envelope in the mail, and we do the rest. Your Spending Profile account will be updated with all your latest purchases and income. You will receive a summary report either by mail or email (your choice). This is your personal Spending Profile, which shows where your money is going and helps you make informed financial decisions.
This process repeats, and you will be receiving and sending one envelope per month. We charge $30/month* for this service (roughly $1/day - we like simple numbers!).
Privacy and confidentiality are strictly observed. A single reviewer will be responsible for your account, and no other person is authorized to view your data. All of your receipts and statements are returned to you after processing.
What if I pay cash for something, and I forget to take a receipt? You can either jot it down on a piece of paper and add it to the receipts envelope, or you can add it yourself by logging into your account.
Receipts are not always clear. If we are unsure of what a receipt is for, we will simply place it in the category "Other". You can always correct us and bring the error to our attention, so that we know for the next time. If you think a receipt is unclear, you can always write on it to indicate what the item really was and which category it belongs to. Your reviewer will eventually get to know what goes where and soon become quite accurate. You can always log in online and change anything you see.
To enable the full service option in your account, or simply to ask a question, email info@spendingprofile.com.
*All amounts in Canadian dollars (CAD)
