Tax planning

Can you afford not to use Receipt Bank?

By July 21, 2016 November 27th, 2019 No Comments
Can you afford not to use Receipt Bank?

How often do you get to the end of the month and have to start scrounging around for all those receipts you’ve accumulated in order to either reconcile your accounts or, more likely, claim back work related expenses? 

There is a solution, it’s called Receipt Bank.

It removes the hassle of receipts and invoices leaving you with no need for data entry!

Receipt Bank intergrates directly to your Xero account and allows you to link your credit or debit card to Xero to make purchases. When you are handed a receipt you simply open the Receipt Bank app, take a photo of the receipt and the Receipt Bank app then captures all relevant information such as supplier, date and amount. This information is sent to Xero with a copy of the receipt attached to the transaction. Once approved, all you need to do is reconsil your account within Xero.

It’s a simple and easy way of reducing the time you spend entering invoices and receipts, and while you might not like to download the app, there are other ways to capture the information such as emailing the documentation.

Receipt Bank have also just released a ReceiptBank_MultiMode.jpgnew feature on the app allowing you to
upload multiple receipts at once, meaning you don’t need to constantly re-open the camera for every new photo. As soon as the picture is taken it’s uploaded and processed. Simple!



If you would like to learn more, please contact us today and we’ll help you sign up, get connected and started with this amazing Xero add-on.



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