This is a general e mail to all clients.
We are continually looking for ways to enhance the offering we make to you and have recently signed a practice licence with Receipt Bank. Whilst most of our monthly accounting service is online and uses email, handling of supplier receipts is a burden to our clients and a continuing challenge to us. Receipt Bank have come up with a low cost solution to this problem and it works by storing your receipts electronically online for the statutory period of six years, but Receipt Bank have gone a step further by providing integration with online accounting systems to make the whole process as easy as possible.
The first thing Receipt Bank have done is simplify the process of gathering receipts by many methods, but the most important for our clients are the following:
1. Where receipts are stored on Dropbox, Receipt Bank scan through every six hours. All you need to do is keep using Dropbox as you did before.
2. By providing a Mobile App so receipts can be photographed. This is particularly useful for small bills like restaurants, rail tickets etc. Once photographed the App automatically sends the receipt off to Receipt Bank, so all you need to do is press a button.
3. By allocating a unique e mail address for use with online purchases, instead of your own email address. As an example, an Amazon receipt would be automatically sent to Receipt Bank as you are making the purchase.
4. By emailing a receipt to your unique Receipt Bank e mail address.
Receipt Bank then provide a spreadsheet that analyses all receipts received, split by payment method that we can download. This means we can separately process payments made by cash, credit cards and debit cards, identified by the source – such as whether it is a business or a personal card. For some other online accounting systems, Receipt Bank fully integrates, so processing from the spreadsheet is online. I am happy to say that the requirements have been discussed with Receipt Bank and Liberty Accounts have agreed to include this in their development schedule, so we can all take full advantage of this new technology.
Once a receipt is stored on Receipt Bank, there is no need to keep a paper copy and it is always available for you or us to examine or print a copy, if needed. This truly is a step that can achieve the paperless office and we do all of the setup for you.
The cost of the Receipt Bank service is £9 per month plus VAT, subject to a fair usage limit.
We have negotiated an arrangement whereby any clients signing up for the service don’t have to commence paying until 1st April 2014. If you wish to participate, all you need to do is e mail back that you want to go ahead and all you would need to do is change your monthly payment from 1st April 2014.
If you require further information please take a look at www.receipt-bank.com or contact me.