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The Benefits of Using Receipt Bank

The Benefits of Using Receipt Bank
  • January 27, 2021

Things are faster than ever before in today's digital age. Stacks of physical documents and a pile of paper receipts isn’t modern bookkeeping. Good bookkeeping can start with a mobile phone. You’re now able to streamline your accounts with apps and software, leaving you with more time to concentrate on running your own business. After all, you didn’t start your business to spend hours inputting data from receipts into spreadsheets or software.

What is Receipt Bank?

Receipt Bank is an award-winning application for data entry that has taken the world of bookkeeping by storm. It is used to handle receipts, invoices, and other documents that businesses rely on to keep reliable and secure financial records. Receipt Bank can save business owners hours in admin time can be done in just one click. 

How does it work?

After you have uploaded a document, the automated extraction engine of the Receipt Bank will summarise and display all the vital data in a manageable format. 

This is a 3-step process:

- Snap it-You can upload your receipts or bills in different ways. You can take a photo on your mobile, scan, and upload, or get your vendors to directly email the system.

- Sort it- You may assign the invoice to a particular group. In time, the machine will recognise this, enabling you to leave it completely in the capable hands of the robots.

- Send it - Send the invoice to your accounting program and win back all wasted time on financial admin. Click 'publish'.

3 Steps

Why should you use Receipt Bank?

Cloud accounting software can stand alone, but it’s levelled up when used in conjunction with Receipt Bank. You have both the bank data and the invoice copy available to you whenever you want. Your cloud accounting software automatically pulls in your bank info and does the bookkeeping for you. Receipt Bank takes your invoice or receipt image, extracts the details from it, categories each object, and sends it to your cloud accounting software.  It works effortlessly with many software providers, meaning you don’t have to switch if you’re happy with your current set up.  

What Are the Benefits of Using Receipt Bank?

· By allowing you to have all your receipts in one searchable place, the app lets you stay organised.

· Using the app, you can quickly take a photo of your receipt and let the machine do the rest.

· It can be accessed any time, on any computer, exporting your accounts on the go.

· Seamless accounting means you can publish the accounting software and incorporate it into it.

· No manual entry of data or work on paper. Eliminate day-to-day manual processes with Receipt Bank and spend more time doing the things you enjoy.

· With Receipt Bank's digital capture tool, stay on top of your bookkeeping. You can quickly upload data and get rid of old receipts.

· Receipt Bank draws real-time details from your receipts so that you are always up to date. Precise numbers and visibility in real-time help you make better-informed decisions about your business.

Your success relies heavily on your ability to control costs and forecast results, especially if you are a start-up. Save time and spend more time doing what you’re good at. You can work smarter, using the technology that's readily available to our advantage.

Contact the Llama Accounting team today about tomorrow's accounts.