In a time of remote working, let’s harness the tools that allow us to do what we do, better. As a limited company owner, there’s lots to keep on top of and lots of roles and responsibilities to juggle. Especially in times as volatile as these, our focus has shifted to doing everything we can to survive and thrive in the coming weeks and months. This means keeping a close eye on the numbers, what you’re spending and what this means for the coming months ahead.
One of the simplest things you can do to help manage your finances is to streamline your expenses. Expenses are one of the easiest ways to keep tax down– claiming every allowable expense ensures a lower tax bill, which gives you access to more working capital and more cash. That’s a whole lot of extra profits available for investment, for funding growth plans or to take as dividends. It also gives you a surplus of cash to fall back on should you ever need.
Unfortunately, expenses management is something a lot of business owners dread. They envision boxes full of paper receipts and time spent painstakingly trawling through piles of old paperwork every month. Once upon a time expenses management was clunky, awkward and time consuming, but luckily there’s some pretty nifty technology available nowadays that makes all of this easier and does most of the heavy lifting for you. And even better, it can help you save valuable time and streamline what you do.
Expenses, the easy way
You didn’t start your business to spend hours typing data from receipts into spreadsheets. And thankfully you don’t have to. Receipt Bank will take care of it for you!
What’s Receipt Bank, we hear you cry?
Receipt Bank is an automated bookkeeping app for small businesses, designed to make your expenses simple and painless. You can capture, store and keep track of your business receipts, bills, invoices and bank statements with Receipt Bank’s award-winning technology. This information is then sent directly to your accounting software. No paper and no data entry.
With Receipt Bank, you’re armed with the tools to start expensing more, paying less tax and saving vital hours in your week. Say goodbye to those paper receipts and manual spreadsheets and wipe out tedious data-entry for good.
Why Receipt Bank?
Save time.
Say goodbye to manual data entry and create expense reports in the time it takes to send an email. That’s a whole lot of time saved each month to focus on winning new clients and offering new services.
Accounting made easy.
Receipt Bank connects to leading accounting software like Xero, FreeAgent and QuickBooks, making your financials a breeze. Just review and publish data to your accounting solution in one click, and finally bin that pile of receipts!
View your financials anytime, from anywhere.
In a world of remote working, you don’t need to be tied down to a single machine or filing system anymore. Get an overview of your financials in real-time from any device.
Take the headache out of expenses management.
Transform the way you manage your expenses into something simple, painless and paperless.
How to use Receipt Bank to manage your expenses
In case you hadn’t guessed, we’re big fans of Receipt Bank here at Complete. It empowers businesses to take control of their bookkeeping and spend more time doing what they love. That’s why we recommend it as a core tool for all of our clients when they come onboard with us. And once you get up and running, it’s super easy to use, too. You’ll wonder how you ever managed without it!
First up, you can use Receipt Bank on your desktop or on the mobile app. But you’re going to want to connect it to your accounting solution first. (It’s simpler than sending an email, and takes less time, too!)
Using Receipt Bank on the mobile app
Once you’ve launched the Receipt Bank app, just snap a photo of your receipts and Receipt Bank will take care of the rest. It’s clever technology will scan all the information on-the-go with pinpoint accuracy, storing and organising the data using a mix of AI and human sorting. Once your receipts are captured, you can finally bin those pesky paper copies! All that’s left to do is review and publish the information to your accounting software. The data and the image are then pushed into your accounting platform.
Using Receipt Bank on desktop
For online expenses, forward any email containing your paperwork to your personal '@receiptbank.me' email address. (You’ll get one of these when you sign up for an account.) Then Receipt Bank’s clever technology will detect the document, extract the data and present it in the ‘Costs Inbox’.
If you regularly receive receipts or invoices from suppliers through email, you can also set up an email-forwarding rule. This means that documents will be automatically sent on to Receipt Bank without you having to spend any time processing them. Pretty cool!
Ready to simplify your expenses?
We can help! We love using technology to help businesses get to where they want to be. Because your business is our business. We can get you set up on Receipt Bank and show you how to use it to transform the way you manage expenses for good. Just ping us a message to find out more.
