Receipt Bank has been revolutionising accounting for small business since they were founded in 2010. They began life as the first software company to automate the collection and data extraction of receipts and invoices. Today, they provide technology that unlocks the value of accounting data, automates the bookkeeping process and helps build more valuable accountant-client relationships.
""All our receipt management is now done on the go."Previously, it used to take two days every quarter for my PA and I to input all the expenses for our company manually. The process included putting everything in chronological order, categorizing everything and then entering it into spreadsheets. Not only was this process very time consuming but also extremely tedious - it had a huge negative impact on the business from lost time. Invariably, keeping on top of these receipts would fall down the list of priorities which meant that VAT claims would be delayed which had a small but significant impact on cash flow. Any discount on the VAT return wouldn’t show until 6 months after the purchase. I heard about Receipt Bank through a friend. It’s reduced the time spent and taken the stress out of all finances. Hidden benefits include a better management of all internal finance systems. Cash flow has improved and we’re much more productive now that we aren't losing all that time. All our receipt management is now done on the go. It’s been revolutionary - I would liken it to getting a smart phone and being able to put appointments in your diary on the fly - doesn't seem like much until you have to do without."
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