Time saving and the benefits of using Receipt Bank

Over the past year there has been a lot of change forced upon many businesses.  If there is something positive that we can take from all of this, it is the knowledge that when required we have the ability to adapt.

So maybe now is the right time to start changing the way we work? Instead of working harder let’s try to work smarter and use the technology that is readily available to our advantage.

As an example I am often asked, when talking about the automation of a purchase ledger role, ‘What will I be doing if I’m not processing invoices manually?’ The answer to this is simple. You won’t be processing invoices or receipts so you will have the time to now do the things that you haven’t been able to get round to doing.

By taking advantage of the OCR technology available from Receipt Bank you will have extra time to concentrate on the things that you have always wanted to do in your business, or take some time away from the business to gain that home/work life balance that you have always aimed for.

Some of the main benefits of using Receipt Bank:

  • Save time and improve accuracy by uploading invoices in to your accounts package using the latest OCR Technology.
  • Can potentially save you VAT by automatically analysing your invoices and identifying the right amount of VAT to claim.
  • Save you tax by encouraging you to upload copies of receipts and invoices immediately rather than at the month end, which reduces the risk of paper being mislaid, lost or destroyed.
  • Seamless integration with Xero, Quickbooks and Sage making claiming expenses easy.
  • It runs in the browser on the desktop, laptop, tablet and many smart phones. It also has phone apps for both iOS and Android, and a new app for Apple Watch.
  • Can be given to your workforce, who can then upload their receipts and generate an automatic expense claim.
  • Keeps copies of your receipts and supplier invoices, meaning you can go paperless – saving you more time and money!
  • Maximises the use of cloud storage systems like Dropbox by uploading your receipts and invoices directly into your account, allowing you to use Receipt Bank to download them automatically for analysis.

If you are interested in seeing a demonstration of Receipt Bank, how it works or details of the prices, please get in touch with our Digital Solutions team at digitalsolutions@mooreandsmalley.co.uk.