Receipt Bank allows you to take 50 pictures at a time, making it easier to submit data. Receipt Bank scans the document and looks for pieces of information such as the total amount, tax, and date. To get your expenses into Receipt Bank, you can send the documents by email, upload them from a computer, snap a picture with your smartphone or link expenses from your cloud storage provider. Receipt bank uses Optical Character Recognition (OCR) to capture data from the image of your receipts or invoices. Once data has been collected from your hard copy, they can be edited, organized and published to your online accounting program, like Xero or Quickbooks. Receipt Bank is a powerful app that performs data extraction from the digital image of your receipts and invoices. Your accountant will love you too, since you can shift to working with them in real-time. Using receipt-capturing and document-collecting apps means saving time and space and being more efficient. Since we are in the age of technological advancement, it doesn’t have to be that painful anymore. Lastly, if you’re an employee that needs to submit an expense report, at some point, you’ll need to sort your receipts and submit them as part of your expense management process. This whole process is tedious and time consuming. Adding to the nightmare of locating receipts and expenses from all over, we may be forced to log-into multiple vendor portals to locate and download our expenses. And since these invoices, receipts, bills - whatever you want to call them - could be just about anywhere, tracking down all these documents is usually a nightmare.Īt best, we only lose some, but typically many are gone for good. When we think about managing our financial documents, we instantly imagine being overwhelmed by paper that accumulates over time. As your business grows, the hassle of managing expenses grows with it.
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