The Receipt Bank Blog

"No more lost expenses and my returns are always filed on time!" - Steve, a UK entrepreneur

“I’ve been using FreeAgent for a couple of years now and it's proved an invaluable asset. It’s a great way to invoice my clients and keep track of my company’s finances. I always have a precise sense of where we are as a business, which is really important to me. Receipt Bank sits along side with its tight integration - collecting and storing my expenses becomes easy.

Combining the two has helped me tackle two key processes – managing my VAT return and re-billing my expenses. What's more, there are no more lost or forgotten expenses and my returns are always filed on time!

I do my invoicing in FreeAgent; this provides me with an overview of how much VAT I’ve received. Importing my credit card statement into FreeAgent shows me my outgoings. Receipt Bank then provides a way to verify the totals from my credit card receipts and see where VAT has been paid, whilst also including any VAT relevant receipts paid by other methods.

Each month I need to divide my expenses into various categories. I rebill expenses that need reclaiming from my clients, reclaim personal expenses from my company and ensure the remaining expenses are allocated correctly.

Receipt Bank simplifies this. First I run a search for the month just gone. I allocate the expenses to a client or project as appropriate. If I need to rebill clients, I create an expense report and extract the PDFs to send onto them. The rest of my expenses go into FreeAgent.

With Receipt Bank & FreeAgent, I now have a system in place which allows me to quickly and easily stay on top of my VAT!”