At Quill Group, we understand that the time you spend on your book work could be better spent on building your business. Therefore, we’re pleased to announce our adoption of Receipt Bank, the Xero add-on which removes the burden of data entry and removes the need for boxes of paper.
Receipt Bank automatically extracts key data from your bills, invoices and receipts and then publishes this information directly into Xero (along with the attached source document). This saves you the hassle of data entry, reducing paperwork in the office and providing huge cost and time savings.
Receipt Bank is Xero’s most popular add-on, globally. The award-winning service was named Xero’s “Add-on Partner of the Year” in both Australia and the UK. It’s a suitable solution for all of our clients, regardless of your industry or sector!
No more storing paper receipts and invoices
The bank feed supplies Xero with real-time information on all your money spent and received. The Receipt Bank feed adds to this by inserting your supplier invoices into Xero. By adding transactions that are yet to hit the bank account, and the supporting documentation of your bank transactions, Receipt Bank ensures that your data in Xero is richer than ever before.
How to submit your receipts and invoices
You can send your bills, invoices and receipts to Receipt Bank in a variety of ways. A handy way is via the iPhone and Android apps which allow you to take photos on the go – perfect for those taxi or coffee receipts! You can also email in or directly upload from your computer, Dropbox or PayPal. You can even post your paper to Receipt Bank for them to scan and upload directly to your online account.
Receipt and invoice processing
Receipt Bank automatically extracts the necessary data from your supplier invoices and securely stores the scanned copies in your online account. As a result, your business has its records saved in an easily retrievable way. This can then reduce the need for your accountant to request that you provide supporting information for certain transactions. It also makes it quicker and easier for you to get your hands on the information as you require it.
Quill Group and Receipt Bank
Access to your Receipt Bank account enables us to manage your expenses from there. Our partnership with Receipt Bank is an example of how we are continually taking advantage of new technology to help our clients improve their businesses!
If you would like to discuss Receipt Bank further and how it can benefit your business, please contact one of our expert cloud advisers and they will be more than happy to show you how to go about setting up and using this innovative service.