Toronto-based SMB app developer Wave has launched a free receipt scanner app to streamline report generation for small businesses and entrepreneurs.

Receipts by Wave allows iPhone users to snap picture of their receipts, while optical character recognition technology analyzes the file and streams the information into Wave’s small business accounting and invoicing tools.

The original image is also stored on the system should it need to be pulled up at a later date.

Wave claims that its end-to-end integration is unique to the invoice reporting market. But it will have to compete with similar offerings from the likes of Abukai and ProOnGo, which integrate with accounting packages like QuickBooks, or even ERP software from SAP and Oracle.

The iOS app is available at, or by searching the Apple App Store for Receipts by Wave. The company expects to release an Android app and e-mail tool soon.

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