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What is Receipt Bank?

Receipt Bank removes the time and hassle of bookkeeping. It allows you to easily collect all the receipts and invoices, scan them, extract the data, and put straight into your accounting software.

No matter how a receipt or invoice arrives, Receipt Bank has a tool to take it straight out of your hands and do the work for you.

Receipt Bank is compatible with all main accounting software providers, such as:

• Xero
• Quickbooks
• Sage
• FreeAgent

How does it work?

Receipt Bank uses OCR and templating technology to extract key information from receipts, invoices or other financial documents. The automated extraction engine will identify data such as supplier, date, invoice reference, plus gross, net and tax values. It is then presented in an easily-manageable format, perfect for downloading or processing onwards to a connected accounting software!

You can capture and upload your receipts using a variety of methods, giving you the ability to find which works best for you.

You are able to set rules within the app for recurring purchases which means that after the initial set up, you will hardly need to touch Receipt Bank as things will automatically publish to your accounting software, streamlining the whole bookkeeping process.

An image of the document and its associated data is attached to the transaction within your accounting software, and will also be held separately by Receipt Bank for a minimum of 10 years which meets HMRC’s document retention policies.

Feel free to throw that receipt as Receipt Bank will always have you compliance-covered.

Still to come

Receipt Bank are currently working on the ability to provide the same functionality for sales invoices which will be coming soon.