What is Receipt Bank?
Receipt Bank is an innovative platform that helps business owners manage their receipts and invoices. Now more than ever before business owners have less time on their hands. And each year having to collate all of your invoices and receipts can take up precious time. Receipt Bank allows you to instantly capture and remember receipts using the camera on your smartphone. Of course, you should keep the paper version of it safe but within a second you have a safe digital copy that you can collate with all of your other receipts that you’ve gathered during the year. As soon as the picture is taken the innovative detection software behind the technology will accurately extract all of the information included on the ticket.
What are the benefits?
One of the major benefits of using Receipt Bank is that you save yourself time. The automation and digitisation of the platform means that the receipts are captured instantly. This means that you’re not spending hours of your own time that you can ill-afford to collating together and sorting through all of your receipts in date order. The app has already done that. And the data is stored in the cloud rather than on your phone. Meaning that if you log into Receipt Bank on another device you still have access to all of the receipts.
The technology behind Receipt Bank also allows you, in real-time, to see where you are up to. These insights allow you to see how many receipts you’ve gathered to far, what the potential VAT value is of these receipts. And with invoices, it can also allow you to see how much money you have outstanding. Meaning that you can forecast and budget around the invoices that you’re currently waiting on.
The last benefit we are going to cover is that you save on paper! In a time where reducing your carbon footprint is more important than ever, Receipt Bank means that you’re not having to stash away all of your paper receipts and invoices. Meaning that not only are you saving on paper costs but as a business, you are also reducing
If you’re fed up of keeping all of your receipts and invoices in paper form in the corner of your office. Or even worse it’s come to your self-assessment and you can’t find some of them Receipt Bank can really help alleviate these problems. If you have any more questions about how it can help your business why not get in touch with a member of the team here at D&K Accounting and we can see how it can benefit your business.