5 Reasons Your Accounting Firm Should Use Receipt Bank With ALL of Your Clients

Written by Helen Swan-Thompson | Jan 13, 2015 10:42:37 AM

Receipt Bank now offers unlimited usage – for one fixed monthly fee you can add as many clients as you need, and use as much data extraction as you want. Here's why it's time to move all your clients over to Receipt Bank.

1. Reduce your Costs

If you’re doing bookkeeping for your clients, you know countless hours per month are wasted manually collating and inputting receipts and invoices. Receipt Bank allows businesses to submit and process all of their invoices and receipts with just the click of a button.

2. Improves Quality and Consistency of Information

Our goal at Receipt Bank is to provide scalable and streamlined solutions for your firm. The ability to automate coding and accounting settings ensures peace of mind that clients' items will be handled in a consistent manner - no matter who is working on them. Coding and data entry errors are a thing of the past, as is the time wasted correcting such errors.

3. Increases Capacity

As long as your client can take a photo of their source documents (you can email and scan them too), you can manage their Accounts Payable function. This streamlined technology-driven approach will free up countless hours of capacity to add new clients.

4. Increases your Margins

Receipt Bank, working alongside QuickBooks Online, Xero, and other cloud accounting software packages allows you to handle more clients from anywhere in the world at anytime. With the general move of the accounting profession towards fixed fees and value based pricing, firms are rewarded for streamlining their processes. Less time spent “managing” the payables function means more money earned from more clients, while still using only the current resources within the firm.

5) Real Time Information... "The Bank Feed of Expenses"

For businesses to stay more on top of their financials, Receipt Bank allows the tracking of the expenses in real time. Using Receipt Bank in conjunction with Xero, QuickBooks Online, or other cloud accounting software packages means that a business' profit/loss data is constantly accurate and up-to-date. This also prevents the loss of any receipts and invoices - making sure that the reconciliation of a bank statement is always easy and consistent.