Receipt Bank

Vorteile

The AI behind this software is smart and adaptive. The OCR recognition can identify the debit/credit card used on a submitted receipt and match that receipt payment to the specific bank account in your accounting software so you can avoid sending payments to the wrong account. For accounting firms, the bundled pricing is a great value to share with your clients. It does not just push the data to your accounting software, but will search your transactions in the software to try to find matches and will sync up the payments with ease.

Nachteile

While they are doing good with the fetch option for online invoices (they can pull the statements and invoices from online billers, such as cell phone or internet), they do not have the capability, currently, to pull bank statements. Add this feature and we have an unmatched solution to this expense capture sector in my opinion.

Vorteile

I recommend to my accounting clients as a quick way to get their expenses recorded. Take a picture of the receipt with your phone and auto publish straight into Quickbooks. Game changer for small businesses that still use the shoe box method! It is a very easy integration with Quickbooks online! Very cost efficient for small businesses.

Nachteile

May not be the best choice for larger businesses with multi level approval of expense reports. I have not signed up a larger client so it may be fine, but I do not think it has this feature.

Vorteile

Photo recognition is very accurate and customer service is helpful and existant.

Nachteile

Where do i start. The system is very clunky, looks great from the outside but there are better solutions out there especially for the price. Upload a reciept and approve it. Then wait 24 hours for it to enter your accounting software. Nightmare when your trying to reconcile.

Doesnt link with QB Projects so have to go into each reciept in QB and add project. This defeats the whole purpose of the app. Oh and you have to wait for it to push to QB.

Vorteile

Receipt Bank is easy to track bills and receipts and useful to publish into accounting software. Also, Receipt Bank could assign different roles among users, which saves time for review and approval of reimbursable expenses. Last but not least, it keeps adding features like bank statement fetch, which creates efficiency for bank reconciliation.

Nachteile

If bills or receipts are denominated in foreign currency, the exchange rate used by Receipt Bank is different from that by Accounting Software. To have a consistent rate across the book, we have to manually refresh the bill date to have a consistent exchange rate.

Vorteile

you can use it for free and very easy to use when extracting data that you require and it is a very good fit small businesses and you can do your work at home on your fone, laptop through your email and integrate when you are at work

Nachteile

It may be costly in the long run if amount of transactions increases with the growing of the business as the cost is related to amount of transactions that you undertake