We recently started to use Receipt Bank as an expense management app and we love it! Receipt Bank is great for small businesses. If you are moving to the cloud or trying to thrive in it, it’s a must-have!
What is Receipt Bank?
Receipt Bank is an app that extracts key information from your bills and receipts and pushes the information directly to your accounting system. IN Xero, it also attaches a copy of the receipt to the Spend money or Bill transaction. We use Receipt Bank with our Xero clients and it works effortlessly.
Using with Small Businesses
Receipt Bank is great for small and medium businesses because it can save much needed time. It allows you to upload receipts on the go by using iPhone and Android apps, which allow you to send your receipts and bills while you are out and about. You can also create rules in Receipt Bank to establish how to handle specific types of receipts.
One feature we find especially helpful is how Receipt Bank handles expense reports. The expense reports are easy to make, easy to edit, and come over beautifully to Xero. This is great because it means that your employees can get reimbursed fast, easily, and accurately.
Streamline Your Bookkeeping
Receipt Bank saves a lot of time. Gone are the days of painfully looking at receipts, scanning them and attaching them where they need to go. Now you can take a picture of the receipt and have Receipt Bank do the heavy lifting.