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How does Receipt Bank work?

Receipt Bank is a platform used for the collection, extraction and storage of bookkeeping documentation.

There are a number of different types of Receipt Bank account available, to suit any business or bookkeeping/accounting practice.

You can submit items to Receipt Bank in a number of different ways. After documentation has been submitted, Receipt Bank will automatically extract the key information associated with the transaction. This includes:

  • Item type - e.g. receipt, invoice, credit note, etc.
  • Date
  • Supplier
  • Invoice Number (where applicable)
  • Currency
  • Total
  • Sales Tax - e.g. GST, VAT, TVA, etc.
  • Payment method* - What was used to purchase the item [E.G: the last four digits of the credit card]

*- For Streamline and Optimize accounts only

Once processing has completed, submitted items will be displayed in the Inbox of the Receipt Bank account. From here, the associated data can be reviewed, edited, and published or downloaded to an Accounting Software.

Once you have published or exported the items, they will be moved to your Archive tab where they are kept for a minimum of 10 years. From here you can access them, and also print them off should you require a hard copy of your items.

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