Recently, I’ve been setting up Receipt Bank with a company file in my Quickbooks Online. Both products, Receipt Bank and Quickbooks Online offer features that are fantastic, well integrated and will save you time. Of course, like every accounting software there is a learning curve and a bit of garbage in garbage out. The better you set things up in the beginning, the more you will like yourself later!
My favorite part is that as soon as I get a receipt I can take a picture of it on my phone and email it to my private email address at Receipt Bank. If you have multiple company accounts, you can have a different Receipt Bank/ email for each of them to keep them separate. Then when you have the time, look it over and then publish it to the proper company file Quickbooks Online (“QBO”). Your Quickbooks / QBO file will then have an image attached directly to the transaction for you to view along with the category you assigned.
To make it even better, Receipt Bank learns the categories you use and will put them in for you for ‘like kinds’ in the future. You just need to check that it is correct, then publish it to QBO. No more losing receipts or hunting them down at tax time.
You can even send a request to your vendors to have them email your monthly statement directly to your email account at receipt bank. No need to ever print it out. Who said it’s not easy being green?!
Have an awesome weekend!