Last week, we looked at Hubdoc and how the app can, and does, help the small business. What the business owner needs to know is that there are many apps that share some of the same features with, of course, some minor exceptions.
This week, we’re going to take a walk with Receipt Bank and see what excites you and makes you want to take a closer look.
Mobile Device or Scanner to Eliminate Data Entry
Our office loves OCR (optimal character recognition) technology. Why? Because it helps to eliminate data entry errors. Wrong dates, wrong amounts, and even wrong accounts. And let’s face it, do you really like data entry and all it entails?
So this is where the technology makes our week — hell, our year. It’s about using and trusting the tech tools and maximizing them to make the workload easier for you. And that is what Receipt Bank does when it comes to snapping a picture of the receipt and making your life simpler.
Duplicate Receipts? Receipt Bank = No More
For reasons that I can’t figure out, Receipt Bank has it all figured out.
Make a mistake and take a picture of a receipt twice? No worries, Receipt Bank won’t duplicate it. Simple as that.
This is one feature that I love. You find yourself diligently taking pictures of your receipts to import into your accounting program, and you get sidetracked. Or you take a picture, put it into your wallet, go home and take another picture. That says to me that you are likely to cause duplicates and thus havoc in your accounting.
Well, not with Receipt Bank. And that makes my life easier, so it’s bound to make you happy too.
Submit Multiple Receipts at Once
Another great feature is that I can scan multiple receipts with my scanner and Receipt Bank separates each one. How cool is that? We’re talking way faster processing for you. This is an epic feature in my book.
Involve Your Team
Let’s say that you have at least one other team member on the road selling or delivering services. No problem — you can have multiple users setup with unique access to Receipt Bank.
Only need the ability to send the receipts but not see reports, etc.? Done — easily. Want your bookkeeper to have full access and limit everyone else? Consider it as simple as running a hot knife through butter.
The flexibility is endless and versatile.
Export to Your Cloud Accounting Software
The value of applications like Receipt Bank is the ability to interact with your cloud accounting software. The ease of moving the data from Receipt Bank to programs like QuickBooks Online or Xero makes data entry effortless.
Dashboard View and Reporting
The bookkeeping dashboard shows you at a glance exactly what has been posted, and what has not. You can easily run reports, make changes, and archive already posted receipts. The use of the dashboard is endless, and is only limited by your needs.
The power of any SaaS (Software as a Service) is the integrations they can perform. Will the software that I choose to integrate with other subscriptions I choose to work with? In this case, Receipt Bank prides themselves on working with a number of payroll and accounting softwares. And the list continues to grow.
Receipt Bank has its positives and negatives, and isn’t much different than other software available that do the same job. What I would look for is what makes my life easier as a business owner, and what I can implement that not only helps me perform the task at hand, but using a method that I feel most comfortable with.
Only you can answer that, and we can help you by showing all the options that you have at your disposal. That is our job, our passion, and our privilege. So, when you are ready to have that conversation, let’s talk. We’re only a virtual call away.
Until the next time,