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What is Receipt Bank & How does it work?

Receipt Bank

When our clients see receipt bank they go crazy…

“Receipt Bank has been amazing – it saves us so much time when book-keeping, allowing us to concentrate on marketing and growing the business”  Kate Peters, Golden Gardens & Building

Receipt Bank is automated book-keeping software designed to help you save time and money.

But how does it work?

Receipt Bank allows you to extract data from receipts or invoices automatically. This can include supplier, category/code, date, total and tax total. Receipts and invoices can also be allocated within one click to projects or clients/customers.

There are 2 ways in which the system can automatically extract data from receipts and invoices…

  1. The Receipt Bank App – for iOS, Android & Windows
  2. The Receipt Bank email portal.

Using the app, you simply take a photo of the receipt or invoice, over the next hour or so the system reads the data on the document and populates the data fields ready for export (see image to the right).

Alternatively, we will give you a dedicated receipt bank email address. Simply forward any email containing an invoice (PDF, word, or in email text body) to the email address, the system then reads the document/s and again, populates the data fields ready for export.

So no manual data entry. Ever.

Where does the data go?

Once read and analysed, the data can be sent either to a basic spreadsheet, popular with sole traders, or to a cloud accounting system, Xero or QuickBooks online for example. This is more popular with limited companies.

The cloud system, linked directly with your business bank account

We have clients who have halved their book-keeping costs by introducing Receipt Bank with Cloud Accounting.

For more information or a free demonstration please contact us on the details below.

Alternatively, come and visit our stand at the MKEX Technology Show – Wednesday 22nd June 2016 @ Stadium MK. For more information about this, please click here.

Ad Valorem Cloud Accounting Specialists

01908 219100

enquiries@advaloremgroup.uk

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Posted in: Blog, Cloud Accounting, Start Up Business