NEAT Receipts Announces Increased Capabilities to Simplify Tax Time Preparation

Version 3 Service Pack 1 Brings Users 2007 Tax Season Updates and Quicken and QuickBooks Support

NEWS FACTS

NEAT Receipts, a Philadelphia-based company committed to developing user-friendly scanning solutions, today announced NEAT Receipts Version 3 Service Pack 1 (V3 SP1), just in time for tax season. V3 SP1 provides significant improvements in the way users can manage their personal and small business finances.

Key features of V3 SP1 include:

--  Tax Update: NEAT Receipts software now supports IRS forms for the 2007
    tax year including 1040, Schedules A, B, C, D, E and F, as well as forms
    2106, 2441, 3903, 8829, 8839 and 8863.  Users can scan receipts and select
    an IRS tax category from the drop down menu then use the NEAT Receipts Tax
    Organizer to create category summaries that are exportable to TurboTax.
    Popular categories include Charitable Donations, Medical Expenses,
    Dependent Care Expenses, Unreimbursed Business Expenses, Business Use of
    the Home, and Education Expenses.  When preparing taxes, users can simply
    run a report that totals their spending in each category and provides both
    the line number on the form and the amount to fill in.

--  Quicken and QuickBooks Support: Users are able to scan personal and
    business receipts and financial documents and export to Quicken and
    QuickBooks.  Users can designate specific accounts for their expenses and
    send data directly from NEAT Receipts into two of the leading financial
    management applications.

--  Improved Accuracy: NEAT Receipts' software recognizes specific pieces
    of information on receipts such as date, vendor, amount, sales tax, payment
    type and GST/PST in Canada.  V3 SP1 provides significant gains in the
    recognition technology, which reads and intelligently categorizes data from
    U.S. and Canadian receipts.
    

V3 SP1 is a free update to all users of NEAT Receipts Version 3.0. Users of previous versions can upgrade their software for $39.95 at www.neatreceipts.com.

V3 SP1 builds on the Version 3.0 platform released in September 2007. Key features include:

--  Intelligent Text Recognition: Converts any paper document to text that
    can be edited

--  Keyword Search: Retrieves documents and receipts by searching on
    keywords in the text

--  Smart Sorting: Automatically identifies and organizes receipts,
    business cards and documents

--  Scan to PDF: Creates searchable PDF files quickly and easily
    

Business users and individuals can use NEAT Receipts' user-friendly, hardware and software scanning systems for a variety of uses including:

--  Extracting information directly off of receipts and into spreadsheet
    format for better management of finances, taxes or expense reporting
--  Seamlessly moving contact information from business cards into the
    digital contact management application of their choice
--  Creating a digital filing cabinet by transforming paper documents into
    searchable PDFs

QUOTE

"We made some key adjustments to our recently launched 3.0 product just in time for tax season," said Rafi Spero, founder of NEAT Receipts. "We feel these tweaks will make a strenuous time of year a little less stressful for long-time customers and recent converts."

ABOUT NEAT RECEIPTS

Founded in 2002 as a scanning solution for streamlining the expense reporting system, NEAT Receipts now offers a full range of products and complete system for managing all the paper clutter in your life.

Much more than just creating digital copies of important papers, NEAT Receipts' combined software and hardware solutions transform data trapped on the paper into information that can be organized, stored, secured and activated. NEAT Receipts is a privately owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

--  October 2002: Founded by Rafi Spero and Les Spero
--  November 2003: NEAT Receipts launched at Philadelphia Airport kiosk
--  November 2005: NEAT Receipts launched at Staples, Amazon, Fry's;
    additional kiosks opened
--  August 2006: Awarded Best Product honors at Retail Vision
--  October 2006: Named #1 Fastest Growing Private Company by Philadelphia
    Business Journal
--  December 2006: Named Startup Company of the Year by Eastern Technology
    Council
--  April 2007: NEAT Receipts named NAPO's Organizer's Choice Award for
    Best Technology Product
--  June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope
    magazine
--  June 2007: Les and Rafi Spero named Ernst & Young Entrepreneur of the
    Year 2007 Award Winner in Greater Philadelphia
--  October 2007: NEAT Receipts named A Rising Star Company for Deloitte
    Fast 50
--  October 2007: NEAT Receipts named #4 Fastest Growing Company by
    Philadelphia 100
--  October 2007: NEAT Receipts named Best Small Company To Work For by
    Philadelphia Magazine

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