For many of my clients it has been integrating Receipt Bank into QuickBooks Online meaning that they no longer have to keep a paper copy of all of their receipts and purchase invoices. The ease of taking a picture of a coffee receipt on the go and then throwing it away is ideal for a lot of our busy business owners or simply getting suppliers to email in purchase invoices into a dedicated Receipt Bank inbox.
It really does speed up the process of their bookkeeping and I would recommend it to anyone!
Emily, once the pics of the receipts are in receipt bank, say at the end of the year, can you download them all to save as an archive or something? Do the pics save as a pic file or a pdf?
Ahh I just looked it up, Not what I thought based on the name, and pricey too.
Once you upload all of your documents into Receipt Bank you publish these through into QuickBooks Online where you can match these up to your banking transactions.
For example you take a picture of a receipt for some coffee for £5.00. You review this in Receipt Bank and basically catagorise it as an expense to an expense account in QuickBooks called 'Travel and Subsistence'. Publish the receipt through to QuickBooks Online. If you have your bank linked in QuickBooks Online, the banking section will show the £5 going out of your account. It will appear as a match icon against the receipt you have just published through from Receipt Bank so you can simply click 'Match'. This document will then be shown in the attachment box of the expense. Alternatively you can find all of these in the 'Attachments' section under the Company Cog.
I would advise that you watch this video my colleague made for furthur understanding:
If you do however have any more questions then please do not hesitate to get in touch with me directly.