Businesses winning the paperless fight as Receipt Bank processes over 250 million expense receipts

4th November 2019

One of the world’s most innovative bookkeeping automation platforms has recently reached a new landmark, digitally processing more than 250 million financial documents for businesses, transforming the efficiency and accuracy of claiming expenses across the UK.

Since its launch, Receipt Bank has assisted more than 1.3 million self-employed professionals and small businesses to take photos of their receipts, bank statements and other cost and sales invoices on mobile devices. Users can then scan them into their Receipt Bank account, ready for their bookkeeper or accountant to use.

Of the 250 million financial documents digitally stored on the Receipt Bank platform, more than 100 million of these have been filed by British small firms and sole traders.

The Receipt Bank platform is designed to integrate seamlessly with basic spreadsheets, as well as leading accounting software such as QuickBooks, Sage and Xero, to avoid duplicated effort.

Adrian Blair, CEO, Receipt Bank, said: “This is a huge milestone as we continue on our missions to make small business bookkeeping more powerful using machine learning.

“Machine learning means that the more financial paperwork we process, the greater value we deliver for our customers. I’m delighted that more and more small businesses and their advisers are joining the Receipt Bank community.”

Our nationwide network of small business accountants offers Receipt Bank to ensure sole traders and growing businesses never lose another receipt or expense again when filing company accounts or self-assessment tax returns.

Small firms that use Receipt Bank can clear their office and workspace of cluttered paperwork, safe in the knowledge they have submitted everything to their accountant via the cloud; thus ensuring accurate and regular financial data about their business.

At TaxAssist Accountants we offer very competitive pricing for your business to make the most of the Receipt Bank platform. This ground-breaking expense scanning facility will enable you to spend more time running your business or with your family and less time scrabbling around for six-month-old receipts.

For a free initial consultation on the benefits of Receipt Bank and how the system works, or for more information on any other accounting software we use, call us today on 0800 0523 555 or drop us a line via our online enquiry form.

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