by Amy Holdsworth
How often do you get to the end of the month and have to start scrounging around for all those receipts you've accumulated throughout the month in order to either reconcile your accounts or, more likely, claim back work related expenses? How often do you get to this time and you either can't find them or they are torn, ripped or scrunched up and illegible, so you end up pleading your case to the finance team to reimburse you?
There is a solution, it's called Receipt Bank. This simple yet oh-so-intelligent little add-on, removes the hassle of receipts and invoices leaving you with no more data entry.
Receipt Bank connects directly to your Xero account and allows you to use the credit or debit card linked to Xero, to make purchases. When you get given that pesky receipt, open the Receipt Bank App (which is free to download), take a photo of the receipt and then magically (not literally magic, but close enough!) the Receipt Bank app captures all of the relevant information like the name of the supplier, the date, the invoice number, the currency, tax, the total amount etc. This information is sent to Xero with a copy of the receipt attached to the transaction once you approve it, then all you have to do is reconcile your account in Xero, just like you normally do.
Oh, and then you get to bin that receipt!
Its simple and easy and will save you an enormous amount of time entering in invoices and receipts. If you don't wish to use the app to capture the information, there are other options like emailing the documentation or sending it to Receipt Bank via post. Perfect solution for the invoices received via email or in hard copy.
If you would like further information, please contact us today and we'll help you sign up, get connected and start using this super handy add-on to Xero.
Look how easy it is!