Receipt Bank helps small to medium businesses, sole traders, and individuals save valuable hours by pulling information from receipts and invoices quickly, accurately and efficiently. It aims to remove the administrative burden that bills, invoices and receipts place on a business.
How it works
- You take a few minutes to photograph receipts and invoices etc. You can then scan and send them to be processed by the Receipt Bank software. You can download and use the Receipt Bank app on your smartphone to photograph and send receipts and invoices. You can also forward a batch of invoices to Receipt Bank in the post.
- If you have already downloaded the Argents app you can use that to import your documents into Receipt Bank.
- There is no duplication or lost information as it is automatically sorted and categorised once it arrives and saved securely to the cloud.
- It can also pull data from your software to maximise the efficiency of bank reconciliations, payroll and sales.
There are several add-on options available that will allow you import, publish and integrate with Receipt Bank – Sage One, Xero, QuickBooks, and KashFlow to mention a few. So, for example, once you click publish in Receipt Bank, the expense is sent to Xero (if you use that software) with a copy of the invoice attached. An electronic copy of the invoice will be saved on both Receipt Bank and Xero, so you don’t necessarily have to keep the hardcopy.
Once this has been received and processed by Receipt Bank, it makes it quick and simple to record the details of your costs – as the software recognises the supplier name, amounts, VAT, date etc. This results in a lot less data entry, and more accuracy.
If you have any questions about Receipt Bank or need any help please contact our Receipt Bank Champion – Stewart Halton.