At Kudos Accountants Durham LLP we are always looking for ways to make our clients’ lives easier. Our latest initiative is Receipt Bank, the award-winning Xero add-on that automatically converts all your invoices and receipts into data, making it easy for you send your financial information straight to us.

The Receipt Bank Group has been revolutionising accounting since it was founded in 2010. It was the first software company to automate the collection and data extraction of receipts and invoices meaning that clients can now benefit from reduced costs, effortless bookkeeping and real-time accounting.

With Receipt Bank’s easy submission methods you’ll never lose another receipt or invoice. You will save time as you no longer have to make trips to drop off your paperwork! There’s a whole of range of ways to submit and you can choose whichever methods that suit your businesses workflow:

• Receipt Bank App (iPhone & Android)
• Email
• Dropbox

Using Receipt Bank’s easy submission methods means that:

• You save time on sending in your paperwork, time that you can spend on your core business services.
• You save space as there’s no need to retain your physical documents, with it all documents easily searchable and securely stored on the cloud.
• You now have real time information flowing into your accounting package, providing you with insights to improve your business decisions.

Try the mobile app

We’ve calculated that, on average, your clients’ items get to your accounting software 6 times faster than other submission methods. That’s because the ease of having a handy app in their pocket encourages them to snap photos of their receipts as and when they receive them – which also means that they are less likely to sit on items or lose them! You can send clients an SMS invite to download the app from your Receipt Bank desktop account. They will be automatically logged in and can then begin taking photos of their receipts, invoices and other expense items and submit them to you for processing. It’s that simple! A client can upload between 1 and 50 items at one time and using the ‘Combine’ mode, they can compile long invoices and submit them as one item.

The email-in method

Another easy way to use Receipt Bank is having your clients submit their items via email. Every Receipt Bank user has their own unique email address.

Faster and simpler submissions

• No more trips to their accountant to hand in physical copies of receipts.
• No more lost items.
• More tailored financial advice from your accountant, as a result of up-to-date books.
• On-the-go bookkeeping from their phone or remote submissions from their laptop.

Top Tips

Make it a habit, don’t let receipts pile up! As soon as you have one, snap a picture – as soon as you get an emailed invoice, forward to Receipt Bank immediately. You have to get on top of it, then stay on top of it.

Don’t let your receipts pile up! Get into the habit of submitting in real-time.

If you’d like to get started submitting with Receipt Bank, please get in touch on with Kudos and we can get you set up with your Receipt Bank account.

Contact us today to make life easier for yourself via a smarter way to process receipts!