Receipt Bank can help bring your business into the cloud by eliminating the need for paper in the expense process, by creating a more organised and efficient pipeline for employees and suppliers to submit expenses, and by giving key members or your organisation access to your books anywhere.
The elimination of paper is one of the easiest first steps in moving your company into the cloud. The other steps require a shift in thinking about how expenses are handled.
You can easily eliminate paper by first uploading all of your existing expense records into Receipt Bank using one of our many submission methods. Have no fear, tax authorities are just fine with you tossing your old paper as long as you have an electronic record of the expense. After uploading your existing stockpile, feel free to recycle all of that paper!
The power of the cloud lies in the ability to submit and manage expenses from anywhere you have an internet connection. Elimination of paper is merely a fringe benefit when compared to how the cloud can improve the way processes are carried out.
Employees can submit expenses as they incur them using our mobile app linked to your company Receipt Bank account. By having an individual profile on a multi-user account for each employee, you will be able to keep track of who submits what expenses. Your employees can also create expense reports for your approval before they get published to your accounting software. Suppliers too can submit their invoices directly to Receipt Bank through the use of your personalized email-in address. All expenses can be automatically processed by Receipt Bank this way!
Lastly, Receipt Bank combined with cloud accounting software can provide key members of your organization with access to the financial data of your business anywhere. Expenses are ideally processed and entered into your accounting software within a 24 hour time scale, giving you both fast and accurate data while simultaneously eliminating the time and effort required to physically manage and enter all of this data.