At Harris Lacey and Swain we are always trying to encourage clients to embrace technology to better their businesses. Now is the the time, to save time.What exactly is Receipt Bank?
Receipt Bank is an award winning, data entry application taking businesses by storm.
Saving business owners hours in admin time, it’s used to manage receipts, invoices, and other documents that businesses depend on to keep accurate, secure financial records and what’s more, it can be done in just one click. So simple!
How does it work?
The best news is that there’s an app and, if you’ve read our blogs before, you’ll know that we love a good app! After you’ve uploaded a document, Receipt Bank’s automated extraction engine (technical term for ‘magic’!) will summarise all the vital data and display in a readable and easily manageable format.
We recommend this simple 3 step process:
- Snap it – There are various ways you can upload your receipts or bills. You can take a picture on your mobile device, scan and upload, or get your suppliers to email the system directly.
The best part, you can then scrap the physical copy. Simple, effortless and paperless!
We also love their new feature of invoice fetch where receipt bank will source your invoices for you using your log-in credentials with certain suppliers. They really couldn’t make it any easier!
- Sort it – Ok, so you do need to get a little more involved at this point, but only briefly! You can allocate the invoice to a specific category depending what it is for. But in time the system will soon learn and before you know it, you will be leaving it fully in the capable hands of the robots.
- Send it – Click ‘publish’ (Or go one better and allow it to auto-publish) to send the invoice seamlessly into your accounting software and win back all the time you spent on financial admin! Why not focus on things that matter now, like growing your business?
A regular question we often get asked is, will it really save me time?
2 million documents are processed every week and over 300,000 small businesses use the platform. The numbers speak for themselves, don’t you think? Plus, we have dozens of clients that are already reaping the benefits of Receipt Bank.
The main benefits:
- The software helps you stay organised by enabling you to have all your receipts on one searchable bank.
- You can instantly snap the picture of your receipt using the app, and let the system do the rest.
- It is accessible anywhere, anytime and on any device – export your accounts on the go.
- Seamless accounting means you can publish and integrate into your accounting software.
Check back in a fortnight for our next blog ‘The IR35 reform’ and please feel free to send over topics you would like us to cover in the future.
Talk to us today, about accounting for tomorrow.