What is Receipt Bank and how can it help your business?

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Here at Square Mile Accounting we recommend a system called Receipt Bank to all our clients as an add on to their Xero systems.

But what is Receipt Bank and how can it help my business?

 

 

In basic terms, it is a system that you can send your supplier receipts and invoices to, and then have them scanned and exported across to Xero with the detail already extracted.

This saves the manual process of typing in the invoice detail, and acts as a virtual filing cabinet for your records that you need to maintain for tax purposes – saving you both valuable time and space.

 

 

All you have to do is send the supplier invoices to Receipt Bank – via email, upload or post – and they will scan them for you, pulling out the relevant data as well as attach an image of the invoice.

 

 

If you would like to know more about how Receipt Bank and Xero can streamline your business then please get in touch.

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