Receipt bank saves individuals and businesses valuable hours by pulling information from receipts and invoices.
It takes the hassle out of keeping paper receipts and ensures the digital copies are compliant with tax office regulations.
Add-on to make your life easier
Receipt Bank is an add-on you can use with cloud-based accounting software, such as Xero.
It links into your accounting software and makes it possible for you to send your receipts via email or smartphone app.
How does it work?
Using the smartphone app, take a picture of the receipt.
The software takes out the data from the receipt and sends it to your accounting software.
You don’t need to keep your paper receipt as a digital copy is stored in Receipt Bank and also attached to the transaction in Xero.
It’s easy to find your receipts, even months later as it’s attached to the financial transaction in your accounting software. With Receipt Bank, a record is kept of all receipts for a period of 7 years.
This ensures compliance with the Tax Office record keeping regulations and also gives you a more accurate record of your expenses.
Flexibility with the Cloud
With both systems hosted in the cloud, you will never misplace a receipt again. You can access your accounts wherever you are and you can run your business from work, home or whilst travelling.
Receipt Bank means no need to keep your receipts, no trying to sort through boxes to find relevant information or faded receipts that you can no longer read.
All you need is to take a picture and send it through.
You don’t have to do everything on your phone though, Receipt Bank accepts files straight from your computer and via Dropbox or Paypal.
Linking to your cloud-based accounting software, means that it’s easy for your team to collaborate with each other and accounting advisors.
Your data can also be easily shared reducing double handling and ensuring that everyone is working from the same source of information.
Efficient & Accurate
Taking a picture of receipts and having the software extract the required data, means no manual data entry. Being able to find information and records quickly saves time and also reduces physical space required.
Receipt Bank’s software gets information from your invoices and publishes it directly into Xero. Allowing you to see your financial situation at a glance.
Cloud-based Accounting Specialists
We love anything that can make our client’s lives easier. Talk to us about which cloud-based accounting system will work for you.