The Receipt Bank Blog

"I have my expenditure up to date for the first time in three years" - by Jason Wollington, a digital marketing specialist.

When you run a business like ours, a marketing agency with a brilliant track record for being fast on our feet and quite dynamic, the last thing we tend to worry about doing is the paperwork, and at the bottom of that list are expenses!

I saw Receipt Bank after thinking that there must be someone or something out ‘there’ that could take the pain of expenses away from me.

I started using it and thought it was a good idea. After realising it linked to our chosen online accounts package, FreeAgent, it suddenly became a superb idea!

You spend the money, take a picture of the receipt and normally within 48 hours it is in the account and allocated to the correct cost centre – brilliant!

Often we would raise an invoice and then find receipts relating to that project months later. Typically, we wouldn’t recharge the client for these costs, so the money lost from expenses (eg. train tickets) starts to add up.

My company used to do everything manually at the end of a project. We’re really keen to deliver good work, and are more focused on the next project rather than invoicing. This meant that it would take 4 -8 weeks to get round to invoicing, and meant that we’d be funding projects for up to 10 weeks – not great for cashflow!

Thanks to FreeAgent, our invoices now go out two days after a project has been signed off. With Receipt Bank, any additional costs related to a job get added seamlessly.

Receipt Bank has saved me thousands a year definitely. It allows me to back up receipts immediately - it’s a task that no longer fills me with dread. We have up to date accounts, which my customers can verify by looking at the receipt on their invoice – a really nice touch in keeping with the open book policy we operate with our customers!

Receipt Bank allows them to see the actual evidence of our procedure. Every charge is visible – they can see that we do not mark up incidentals and costs to get a higher margin.

I have my expenditure up to date for the first time in three years. I do it every three or four days. I can do it over breakfast, it doesn’t take any time away from my work and I can look after my customers better.Receipt Bank and FreeAgent are a great combination - as good a pair as Ant & Dec!