Receipt Bank is an amazing bit of software that we include in all our bookkeeping client’s packages. It makes stacks of paper and receipts a thing of the past, provides great cloud storage and is the perfect way to get the receipts across to us each week.
Initially knowing what you can and can’t send across to Receipt Bank each week can be a bit confusing at first, so we have put together this handy guide to help you out.
What Types of Files Can I submit?
The software accepts most file types that you are likely to come across including:
It’s important to note here that Receipt Bank does not accept Microsoft Excel or Word files. So if you receipt an invoice in this format we suggest you save it as a PDF before sending it to Receipt Bank.
What should I send to Receipt Bank?
Receipt Bank is how we obtain the purchase invoices and Receipts in order to reconcile expenses in Xero. This means that any paperwork related to purchased needs to be sent here.
Any business expenses that you have paid for personally should be recorded from the expense claim module n Xero. Receipts and invoices relating to this should not be sent through to Receipt Bank but should be attached by you to your expense claim.
Receipt Bank is not for sales so you should ideally be using Xero to produce your sales invoices. Failing that, these should be sent over to us via email separately.
Receipt Bank Tips and Tricks
Most transactions these day occur online – and as a result the majority of invoices you receive will be sent to you via email. An top tip to save you time is to set up auto-forward rules to automatically sent hose invoices to Receipt Bank. This means that they will be archived in Receipt bank without you even having to click a button.
If you receive paper invoices or receive receipts when you are out and about simply download the Receipt Bank App to your phone. Open the app and take a snap of the receipt and click “submit to processing”. This will then be sent through to Receipt Bank and archived for our records.
In summary Receipt Bank can save you time managing paperwork so you can focus on your business and de-clutter your office from paperwork.
if you ever have any questions on how to use this better the drop us an email at email@example.com.