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Receipt Bank, a leading bookkeeping productivity tool, has announced the introduction of fully automated invoice collection for their platform. Accountants and bookkeepers can now connect their client’s Receipt Bank accounts directly with their clients’ suppliers instead of regularly having to login and download invoices.
This feature is yet another development designed to help accountants and bookkeepers build a seamless client experience and reduce admin time so they can focus on what matters to their clients.
“As the amount of transactions that take place exclusively online increases, it’s a huge opportunity to integrate systems and save time”, explains Receipt Bank CEO Alexis Prenn.
Prenn went on to say, “Every month, thousands of businesses log onto their energy, telephone or hosting suppliers’ website to download their invoice for payment and recording in their accounting software. Now Receipt Bank can do it for them. We pull the invoice into their account, read the data, and populate their cloud general ledger or Accounts Payable system. It’s one less manual task and one step closer to real-time, effortless bookkeeping data.”
This capability will be available to all Receipt Bank users, regardless of product tier, for no extra cost. On launch, users will be able to connect with over 2,000 suppliers – the market leading selection of any provider - and sync that data with cloud accounting systems including QuickBooks Online, Xero, Sage Business Cloud and Bill.com.
Receipt Bank plans to extend this functionality to bank statements later in 2018, as part of large scale product developments following their $50m Series B Investment in 2017, led by Insight Venture Partners.