Capturing all those pesky receipts
Lee J Knoll
August 24, 2016
If you have not been paying attention, there is technology that will allow you to take a picture of a receipt on your phone, you code the expense item and it remembers it for next time. The great thing about this is there is an app we use called Receipt Bank www.receipt-bank.com. You can also email receipts in to your dedicated email address.
A couple of things it does is remembers the payment method based on the last four digits of your credit or debit card. If you use Quickbooks Online, it will transfer the transactions over to Quickbooks Online so all you need to do is match the transactions up with the bank feed. Receipt Bank will also sync with Bill.com so you can still use it if you are not on Quickbooks Online. You can also creat expense reports and it puts all the corresponding receipts together. Once you are in Quickbooks Online you can click on the transaction and it will take you to the receipt.
In conclusion if you are using Quickbooks Online it is a no brainer, you should be using Receipt Bank as most small businesses now days have about 95% of their transactions using debit cards.
If you would like to explore this more or have any questions please let us know. We just love technology like this to increase your efficiency.