Starting your own business
Accounting and bookkeeping: A guide for sole traders
WORKING IN THE CLOUD
Meet Receipt Bank at QuickBooks Connect London
QuickBooks Connect is your moment to step back from the day-to-day demands of running a business and learn skills that will have a positive impact on your future. The event features inspirational speakers, small group and one-one-one sessions, and support from some of the savviest experts in the industry. It’s also an opportunity to connect with solutions and 3rd party apps that are integral to QuickBooks and small business success, like our gold sponsor Receipt Bank.
So why is Receipt Bank excited to be part of this year’s QuickBooks Connect at Olympia London and what you can expect from their team?
Sponsor Snapshot
Twitter: @ReceiptBank
Instagram: @receipt.bank
Headquarters location: London, UK (Global HQ)
Q&A
Tell us a little bit about Receipt Bank.
Receipt Bank is a digital bookkeeping tool trusted by over 360,000 businesses. We save you and your clients time and money on bookkeeping. We take paperwork from all places, digitise it and prepare it for reconciliation - from supplier portals and utility providers to receipts stuffed in glove compartments.
Paper receipts, invoices and bank statements are messy. With Receipt Bank, your clients can snap, save and sort all their paperwork in seconds - by taking a photo on their phone, sending an email invoice directly to Receipt Bank, linking their bank account and getting bills automatically uploaded. We determine everything from supplier, currency, total amount, tax, payment method and more.
We then use machine learning to tailor bookkeeping to your clients’ needs, so you can save one hour per client per week on manual data entry alone. No more hours of tedious typing or chasing clients over email - documents are turned into digital data with world-class data accuracy. The accuracy of our data extraction enables a data-driven service. All data is stored safely on our cloud servers for a minimum of 10 years in case of audit, natural disaster or fraud.
Whether you’re an accountant, bookkeeper or business-owner looking for an easy way to stay on top of expenses, Receipt Bank gives you this control and confidence.
How does Receipt Bank work with QuickBooks?
We integrate seamlessly with QuickBooks. Once your information is in Receipt Bank, you can unlock automated publishing and transaction matching in QuickBooks for quick-fire reconciling.
You’ll be at QuickBooks Connect in London, 3-4 March. Tell us what attendees can expect from your team.
We’re on a mission to help accountants and bookkeepers become a world-class financial advisor: taking all paperwork from anywhere and giving small businesses more control and visibility over their finances. We’re excited to share the latest product developments and a sneak-peek into future updates.
To see Receipt Bank in action, be sure to pre-book a demo with one of our team by clicking this link and come by Stand A1. These sessions are popular so please book now to avoid missing out. As a bonus, you’ll also walk away with some exclusive Receipt Bank swag!
Your team has joined us at previous QuickBooks Connect events. What keeps you coming back?
QuickBooks Connect is one of the biggest events in the accounting calendar, and it’s one that we look forward to all year round. In such a digital world, it’s refreshing to meet face-to-face. Whether you’re new to Receipt Bank or a familiar face, we’d love to see you and talk through your business.
Each year, QBC brings something a little different - whether that’s a brand-new tool to help business owners keep on top of cashflow or an updated interface to simplify existing processes. The accounting and bookkeeping industry is undergoing a digital transformation, and it’s events like these that remind us of the importance of community and sharing learnings.
What advice do you have for small businesses?
There are so many apps out there that help make businesses brilliant. But nothing can replace an experienced financial advisor. They can be the difference between sinking and swimming in your first year, so the earlier you can bring them onboard, the better! We’ve all heard that around 60 per cent of new businesses go under within three years, and 20 per cent will close up within just 12 months. These numbers are startling, and come with their own social, economic, human cost.
Accountants and bookkeepers are uniquely placed to help. By giving confidence and control in the numbers, entrepreneurs and business owners can focus on their passion without losing sleep over the balance sheet. And with the right technology, these accountants and bookkeepers can offer even more value - providing the skills and expertise of a fully-armed financial department to a small startup.
QuickBooks Connect is a fantastic opportunity to learn from the best in the business. You can flip the saying, ‘Don’t bring me problems, bring me solutions’, and actually come armed with a list of challenges in your business. The people and the tech at QuickBooks Connect are there to help. Tired of data entry and looking to step into advisory? You know where to come.
This year’s event theme is Own the Future. What makes your team excited about the opportunities ahead in the new world of work? And how does Receipt Bank help small businesses grow and fuel their success?
We believe in the power of choice. Seismic shifts in open banking have created a space for new innovations to grow and flourish. We’re set to embrace these opportunities and help create a world where we can connect revenue, cost, bank and payroll data. This will give business owners more visibility and control of their finances in real-time than ever before, and empower accountants and bookkeepers to offer world-class financial advice.
Ultimately, the future presents an opportunity to do less of the manual work that none of us got into business for - the admin, tedious typing up of receipts and chasing up over emails - and more of the work that enriches our lives and societies.
Take one of our partners. They’re a UK-based practice with three full-time team members, who used cloud technology to establish their brand in the South West of England. By using QuickBooks Online and Receipt Bank, they were able to save a business owner two hours every week on her bookkeeping. That meant she could do all of her bookkeeping in less than an hour and spend the other two hours with her two-year-old daughter.
What are you most excited about for this year’s event?
We are proud to be a Gold Sponsor at QuickBooks Connect. This year, we’re returning with fresh ideas and a stronger product than ever before.
What’s on your team’s must-do list during QBC London?
QBC has lined up an amazing afternoon keynote, with none other than Anthony Joshua and Baroness Karren Brady. If we’re not talking to partners on the stand or meeting the other tech apps like Fluidly, Practice Ignition, GoCardless, Soldo and more, we’ll be squeezing in as many workshops and talks as we can.
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