Receipt Bank and how to get effortless bookkeeping

How much time do you and your team spend each week dealing with expenses, keying in receipts and doing the basic bookkeeping tasks? The average UK small business spends 15 hours every week dealing with accounting duties – and that’s a big chunk of your working week!

So wouldn’t it be great if there was a way to automate all this data-entry work and basic bookkeeping and free up those 15 hours to do more productive things in the business?

The good news is that there’s already a online solution that does this!

Receipt Bank is automated bookkeeping software that’s designed to integrate and work alongside your main Xero online accounting system.

Taking away the data-entry pain

Receipt Bank is a Xero app that works in tandem with your Xero online accounting software. It automates your data entry, updates your accounts and keeps online digital records of all your receipts, invoices and financial documents – taking the hard graft out of bookkeeping.

Using Receipt Bank is extremely simple and quick to learn, with two main options for how you get your bookkeeping data into Receipt Bank and automatically ported over to Xero.

• Receipt Bank mobile app – with the mobile app, you can quickly snap your receipts and expenses wherever you are, 24/7. Take a photo of your paper receipt and it’s automatically converted into data and then pops up in your online Receipt Bank account – and from there into the Xero account. It’s really that fast and straightforward to do.
• Scanning at the office – you can also scan your documents in the office and email these PDFs over to your own personal Receipt Bank email address. Everything is then uploaded to Receipt Bank and appears against the relevant codes in Xero – going from paper document, to data, to accounting information in the blink of an eye.

Getting started with Receipt Bank couldn’t be easier. We can send you an SMS text invite to your mobile, that lets you download the app and get set up in no time. And with in-app chat, we can even message you with queries and questions about your books, straight to your phone.

Effortless bookkeeping and real-time numbers

Automating your data entry makes you more efficient as a business, and takes away the pain of all that tedious keying in, pouring over spreadsheets and wading through boxes and boxes of paper receipts. But Receipt Bank doesn’t just save you time.

The important benefit of effortless bookkeeping is that it then delivers a real-time view of your finances in Xero – which is a huge help to any ambitious business owner.

With your bookkeeping totally up to date, Xero can deliver real-time numbers and reporting. The costs, expenses and cash-flow numbers you see are no longer days, weeks or months out of date. With real-time data, you can see your financial position as it stands right now.

Having that clear overview of your finances is a huge help when it comes to staying profitable, making good decisions and growing the business.

And, of course, that real-time data allows us to see your business information more clearly, spot the potential financial issues and work with you to sidestep and avoid any pitfalls.

See how easy your bookkeeping can be with Receipt Bank

We think Receipt Bank and Xero are the perfect combination for busy business owners – giving your the twin benefits of effortless automated bookkeeping, alongside the massive benefits of top-notch real-time reporting and proactive advice on how to maintain your financial success.

If you’d like to try Receipt Bank and Xero, give us a call and let’s get real-time!