For the past two months we’ve been testing different invoice and expense automation software that integrates with Xero.
There are a lot of great options in the marketplace, but at the end of all the testing and trials, we chose Receipt Bank.
For those of you unfamiliar with Receipt Bank, it allows small and medium sized businesses (and individuals and sole traders!) to save time by automatically pulling all the relevant information from invoices and receipts accurately and efficiently.
No more manual data entry. No more filing and storing paper invoices and receipts. It allows you to go completely paperless.
Receipt Bank has three great functions to achieve this:
- Receipt Bank app – download the free app, take a photo of the receipt and you’re done! This is great for when you’re on the go and get a paper receipt from a cafe, Officeworks or a petrol station etc.
- Receipt Bank email address – each business will receive it’s own dedicated email address (email@example.com). If you receive an email, with an invoice attached, from a supplier simply forward the email to firstname.lastname@example.org. Even better you can give your dedicated email address to your suppliers to send invoices to directly.
- Drag and Drop – log into Receipt Bank and drag your invoice or expense into the browser and drop.
The software will also attach a copy of the invoice to the transaction so you can view the document in your accounting software.
The Australian Taxation Office (ATO) have stated that all documents can be kept in electronic format, so there’s nothing stopping your business becoming completely paperless.
As a certified partner, Equity Books are able to offer their client’s a better price than if they subscribed to the software directly.
Call Andrew on 0400 070 080 to find out how we can help you go paperless and save time on bookkeeping, so you can spend more time growing your business.
Melbourne based bookkeeper with services available Australia wide.