software, as not only does it make everything more efficient and easier to
access, it can also bring significant savings to our customers.
Receipt Bank is an excellent example of a
digital resource that’s revolutionising the world of accounting. Perfect for
all types of business owners and sole traders, it allows you to submit your
receipts, bills and invoices using either a Receipt Bank email address or, even
more convenient, its easy-to-use app. This is an extremely simple process, as
all you have to do is take a photo of the receipt you want to log (such as for
parking, stationery, transportation or lunch with clients) and the software
reads the data automatically.
There are other accounting systems that offer the
ability to upload receipts, but they don’t come with the clever data extraction
that makes Receipt Bank so invaluable. If you don’t make time for data entry,
chances are you let multiple receipts for relatively small purchases go amiss.
This will affect the amount of tax that you pay, so adding every relevant
receipt to your accounts is a good habit that pays for itself.
Using a combination of AI and human sorting,
Receipt Bank takes all of the information required from the receipt and asks
you to review it, which only takes a few seconds. Once approved, you can throw
the physical receipt away, safe in the knowledge that it has been uploaded to
Even better, if you use Xero, QuickBooks or Sage
for your accounting, we can connect Receipt Bank to them, which means that
everything is always on the same page. The software is also perfect for
invoices, making it a no-brainer for any business owner or sole trader who is
fed up of constant data entry and spreadsheets.
Receipt Bank even converts transactions with
foreign suppliers and businesses into GBP, saving a lot of messing around with
a calculator. What’s more, all of this information is stored securely in the
cloud, so you never have to worry about your information falling into the wrong
We recommended Receipt Bank to one of our
clients and they gave it a go. The result far exceeded their expectations, as they
came back to us to say that it saves them a whopping eight hours a week! So as
well as constantly having all of their accounts in order, they’ve freed up four
working days every month to invest into other areas, such as meeting customers,
developing their marketing strategy and growing their business.
Perhaps most importantly, Receipt Bank is very
affordable. From as little as £10 per month, you can get your accounts
shipshape in no time at all. If
you’re interested in trying out this or any other kind of cloud accounting
software, get in touch on 01482 235575 or fill in our contact form