Lemon is the "sweetest" way to track receipts and expenses. Users can simply use a smartphone camera, take a picture of their receipt and send it to their Lemon email address. Lemon will store a digital copy of the receipt for safe-keeping. Additionally, users can provide this email address to online companies or stores that are offering to email the receipts to their customers. Lemon's technology can also extract all the pertinent information from the image and organize the information on the user's Lemon account. This makes submitting for expenses and reporting easier than ever! Whether it is for expense filing, tax purposes or simply budgeting the Lemon app is a useful way to digitize receipts and seemingly a lot cheaper and easier to use than those handheld scanners.
Lemon formally launched in 2011 and is backed by $10 million in funding from Lightspeed and Balderton Capital. Lemon was co-founded by co-CEO Wenceslao Casares who is an entrepreneur (Bling Nation, MECK, Wanako Games) and an angel investor (Qik, IndexTank, MyGengo). Cesares is originally from Patagonia, Argentina. He launched Argentina's first Internet Service Provider called Internet Argentina S.A. in 1994. Lemon is based out of Palo Alto, California and as of 2011, employed 20.
Lemon is unique from other expense tracking applications since it makes a copy of the receipt digitally. Other applications still require users to keep the receipts in order to validate their expenses, while Lemon is a mechanism to digitize these documents. It may appear that Lemon is competing against certain budgeting applications, but it really is not. It can be used in conjunction with applications like Expensify or Mint, and can provide the documentation of one's purchases for reporting or validation purposes.
When users make purchases they just need to take a picture of the receipt with their phone's camera, categorize it (i.e. business, personal, cash, credit, etc) and then they can send the picture to their @lemon.com email. Users could also give their @lemon.com address to any stores offering to email the receipts (great idea to reduce spam). Taking the pictures might take some practice (the receipt has to allign to the application's frame). That is probably the only thing that might be a little frustrating, and that has more to do with one's mobile device than the Lemon.com application itself.
Registering for Lemon.com is extremely easy. Users simply provide an email, username and password and they're all set for Lemon's free version. Lemon operates as a "freemium" meaning the basic version is free while there are additional premium features that users need to pay for. Obviously, to subscribe to these premium features, users will need to input their information to access those, but it is not needed for the basic plan.
Lemon's free version offers scanning and organizing an unlimited number of receipts to one's @lemon.com address.
Additionally a DATA plan that offers analytics (such as receipt details, itemized expenses, taxes and tips) will be available after February 2012 for $9/ month or $50/ year.
For users wanting to track their entire family's expenses, they can subscribe to a FAMILY plan for $3/ month or $20/ year. This will let them link up to 10 Lemon accounts so users can track all of this data in one place.
Finally, starting in March 2012, users will be able to subscribe to a BUSINESS plan that creates an expense report for the user. This plan will cost $4/ month per user.
In addition, all paid-plans provide their users an ad-free experience.
Lemon is excellent for anyone who needs or wants to keep track of their purchases. Whether it be for business, taxes or simple budget-management, Lemon.com is very useful!