Are you bored of entering receipts into your accounting software? Do you find yourself looking through piles of paper receipts? If so, receipt bank can provide another way to manage your records.

Founded in 2010, Receipt Bank is a great asset to all small businesses. It allows you to send all of your receipts by post, e-mail or even photograph on the new IPhone App. Receipt bank will extract all relevant information from each receipt such as supplier, date, amount, VAT etc and export them to your cloud accounting software, including Xero, FreeAgent, Dropbox and more.

When sending to Xero or FreeAgent, Receipt Bank will even code the details to a suggested account, ‘travel’ for example.  All you have to do is confirm these suggestions and once you’re happy, transfer all receipts at once to your online accounting software. This saves an immense amount of time in data entry that can be better spent on other, profit making tasks.  All scanned items are stored securely on your online receipt bank account, as well as your online accounting software and can be accessed with ease.  This digital copy of the invoice complies with HMRC rules, so the paper copies can be disposed, so this cloud solution will even save you storage space!

At very affordable prices for all sized businesses, this tool can really make a difference in saving time, money and effort.

At Nimbus Accounting we recommend Receipt Bank to our clients, if you want to know more, call one of our qualified accountants today.