What is Receipt Bank?
Receipt Bank is a really smart platform that integrates with your accounting software. Receipt Bank tracks, reads and stores your receipts and invoices on the go, so you have more time to focus on what matters not on doing paperwork.
It’s hard enough running a business and on top of that, having to keep track of those receipts and invoices.
How Does It Work?
Let's say you’ve recently purchased some stationery for the office or perhaps those much-needed tools. You no longer crumple up the receipt and stuff it into your handbag or pocket, only later to find that you cannot for the life of you remember where you left it. Instead, you snap the receipt using the app and you’re done.
It's like your own personal assistant doing your accounting work for you!
There are also additional ways of submitting info to Receipt Bank such as:
- Invoice fetch
Once you have submitted documents to Receipt Bank the super clever AI-powered systems will read them quickly and accurately and enter it into your accounting software for when you need it.
Some of the data Receipt Bank will extract includes:
- Item type - e.g. receipt, invoice, credit note, etc.
- Invoice Number (where applicable)
- Payment method - What was used to purchase the item
Once processing is complete, you review the data, and publish to your cloud software, export as a CSV or share with your accountant.
Once you have published or exported the items, they will be moved to your Archive tab where they are kept for a minimum of 10 years. From here you can access them and print them off should you require a hard copy of your items.
If you are interested in using Receipt Bank as your own personal assistant, Vision Beyond Business is an approved Receipt Bank partner and would be happy to provide your business with a demo.