6 Ways Receipt Bank Can Benefit Your Business

6 Ways Receipt Bank Can Benefit Your Business

How many hours a week do you spend manually inputting information from your bills and receipts to keep your accounts up to date? Five? Ten? This tedious task can be incredibly time-consuming and takes away from other essential responsibilities – like growing your business!

 

Luckily, Your Finance Team has partnered with Receipt Bank. We’ve enlisted the help of this award-winning technology to manage all your receipts for you. No paper. No inputting. Just seamless technology designed to save you time and boost business productivity.

 

But what is Receipt Bank?

 

Receipt Bank is a technology that collects information from your bills, receipts and invoices automatically, storing it electronically and instantly integrating it into your accounts.

 

How can Receipt Bank benefit your business?

 

While the benefits of this technology may be obvious (we think no more data inputting is a good enough benefit in itself!), we thought we’d explain a few of the ways in which Receipt Bank really can benefit your business:

 

  1. Timesaving

Without the need for sitting down at the end of each month to go through your receipts and bills, Receipt Bank saves you countless hours. Your receipt information can be captured almost instantly and will be integrated into your accounts automatically. All you need to do is oversee the process.

 

  1. Productivity Boosting

With plenty more time on your hands now that manual entry of receipt information has been eliminated, you’ll be able to focus on putting your efforts into growing your business.

 

  1. No More Missing Papers

There’s nothing worse than sitting down to update your accounts with the month’s bills, receipts and invoices and realising you’re missing an important one. Paper copies go missing all the time, making an already monotonous process even longer and more frustrating. With Receipt Bank, paper is eliminated entirely, meaning you’ll never miss an invoice, bill or receipt again.

 

  1. Cloud Compatibility

Receipt Bank is compatible with leading cloud accounting software, including Xero and QuickBooks. This means that any information captured by Receipt Bank moves seamlessly into your accounts, without the need for intervention on your part.

 

  1. Use it Anywhere

You don’t have to be tied to your desk to make the most of Receipt Bank – the mobile app makes it easy for you to capture information on the go, wherever you are.

 

  1. Better Decision Making

The instant recording of data with Receipt Bank means that your accounts will be updated in real-time, giving you a more realistic overview of your finances and allowing you to make better decisions based on more accurate numbers.

 

At Your Finance Team, we’re huge advocates of using Receipt Bank to benefit your business. That’s why we’re able to offer Receipt Bank installation, training and implementation with any of your accounting packages.

 

If you’d like your business to benefit from Receipt Bank, get in touch with Your Finance Team. We’ll point you in the right direction to get started on your paperless banking journey.

 

We are a member firm of the Institute of Chartered Management Accountants and a certified Xero advisor

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