What is Receipt Bank?
Receipt Bank is a cloud software add-on which provides a service to make the gathering, storage and processing of receipts and invoices as easy and as cost-effective as possible.
You can submit your data via various methods, including having suppliers email your invoices directly to a dedicated email address, scanning the invoices yourself to that same email address, or utilising Receipt Bank's smartphone app which allows you to take a photo and upload directly on your phone.
Once uploaded, Receipt Bank's systems will extract the key information, including supplier name, date, payable amount and any GST, and once the data is extracted can then be submitted directly into your accounting software, saving you the hassle of re-keying this data.
The transaction in your accounting software will include a PDF scan of the invoice which assists in document storage management and review of transactions at a later date.
Who can Receipt Bank help?
All small to medium businesses who have numerous supplier invoices which are manually being processed into the accounting software. Receipt Bank may not be suitable for all software users.
- Reduced manual processing time
- Automated processes to bring invoices into your accounting software
- Reduced processing errors
- Storage facility for your invoices on the cloud for you to access from anywhere
Brentnalls SA is an official Receipt Bank partner and therefore our clients can access concessional pricing, starting from $30.00 (+GST) per month (for up to 50 submissions per month) to $290.00 (+GST) per month (for 675 submissions per month).
Any consideration of costs should be reviewed against the value of the benefits noted above, particularly the time-saving aspect of automating existing manual processes.
A free trial is available for 14 days. Please contact your client manager at Brentnalls SA if you feel this would assist you with your administrative processes.
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The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.