Many small businesses and SMEs lose money every year due to unclaimed expenses such as lost receipts – however, with Receipt Bank you can guarantee that you will never lose a receipt again!
Receipt Bank is an App which integrates seamlessly with Xero and works by converting your invoices and receipts into data and then sends this information to Xero – this makes it really easy to send financial information straight to your accountant for them to process and simplifies the monotonous task of data entry. Receipt Bank enables you to track, read and store your receipts and invoices on the go.
Receipt Bank has many other benefits, such as:-
• It saves you VAT by automatically analysing your invoices and identifying the right amount of VAT to pay.
• It saves you tax by encouraging you to upload receipts and invoices immediately rather than waiting until month end.
• Invoice Fetch – you can connect online accounts direct to Receipt Bank who will then ‘fetch’ invoices as they are raised.
• It saves you heaps of time on paperwork, giving you your time back to focus on what matters.
• The App converts transactions to your chosen currency.
• All images and data are stored securely in the cloud and meet compliance requirements.
• It saves you huge amounts of storage space as there is no need to file away paperwork.
• You can view all your financial information instantly in one App which can also be seen in real time by your accountant.
To find out more about how Receipt Bank can add value to your business, contact a Xero Adviser on 0161 761 5231 or email theteam@horsfield-smith.co.uk.