As a tech savvy SME owner, the coolest thing your smartphone can do in 2017 is automating your expenses with Receipt Bank (okay, we admit, maybe not THE coolest thing, but roll with it guys, we’re accountants).
It’s an app. Its online. It’s cloud bookkeeping for SME’s linking directly to Xero.
Getting those expenses sorted, automated and reconciled using Receipt Bank goes like this:
- Buy something for your business and smile at the amazing purchase you just made while grasping that receipt proudly in hand (or digitally in email, we don’t discriminate)
- Open smartphone and Receipt Bank app, point, click.
Wait, what, there MUST be more? This is bookkeeping madness! Nope, that’s it, nothing else, nada, zilch, zero! Just point click and get on with your day job, leaving us to worry about the financials.
Once your image is snapped, your Receipt Bank image is whisked off to our Blu Sky bookkeepers who attach the image digitally and directly into Xero.
Blu Sky use Receipt Bank and your submitted images to extract your VAT, the account code, supplier and date. Then, just like magic, your bookkeeping is up to date and reconciled in Xero.
Receipt Bank is so smart it even prompts you when to submit an expense. Using machine learning and Geo locationing, Receipt Bank knows when you leave Costa and haven’t submitted a receipt and so it gives a gentle nudge to remind you.
Who uses it?
Business owners use Receipt Bank to get real-time data and eliminate month end headaches.
Your staff use it to build up expense claims each month to get paid for out of pocket costs and mileage.
Accountants use it to ensure you are Tax and VAT compliant and have access to full auditable information in the cloud anytime you wish.
This sounds amazing! How can I use it?
Get on Xero. Step one as always is getting on the cloud. As we said yesterday, Xero is the core of our cloud offering and we can’t get you any of the other cloud goodness without it.
Once that’s sorted, we’re good to go. Give us a call and you Client Account Manager will whisk you into cloud bliss.
Blu Sky and Receipt Bank.
Much like Blu Sky’s relationship with the guys at Xero, our interaction with the Receipt Bank team is extremely close. We are Receipt Bank Gold Partners and have worked with their team to upskill ALL Blu Sky staff internally to be Receipt Bank whizzes!
All driven by the cloud.