Saving time with Artificial Intelligence (AI)

By March 15, 2019Blog

Easily Track Your Transactions and Business Records With ReceiptBank

 
How often have you looked at your business records and struggled to work out what a transaction was for in order to correctly allocate it or answer the inevitable question from the accountant?

You can’t remember what it was for, because it was a long time ago! You can’t find the transaction receipt, because you didn’t keep it. Maybe it got lost in the car somewhere, or the service tech, sales guy (or your boss!) never gave you the information.

What is ReceiptBank?

ReceiptBank is a nifty browser and app-based tool that helps you to keep track of receipts for business records. Simply snap a photo of your receipt and load it onto the app! Invoices and larger financial documents can also be scanned or emailed to a dedicated email address.

Once in the system, the documents are read by Artificial Intelligence (AI) that identifies all the key information and suggests where it should be allocated in your Xero file. The image of your document remains attached to the record.

Just snap a picture and then throw that coffee receipt straight in the bin! It works well for supplier invoices coming in from email as well.

We Use ReceiptBank at Advivo

Advivo implemented ReceiptBank internally when our Practice Manager, Linda, was enjoying life in Europe for a month. Dale was handling the daily processing of creditors and bank reconciliations and decided to check out ReceiptBank. It is now saving us time every day and making the record-keeping much easier.

If you need assistance with your accounting, bookkeeping, or payroll, please get in touch with us at Advivo.

Call us on 07 3226 1800 or send us a message through our Contact page.

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