Dext (formerly Receipt Bank) Top Tips
KWB recommends using Dext, formerly Receipt Bank, to keep track of your receipts and help you to claim back more on your taxes.
Here are 16 steps for business owners to get started with the Dext app:
- Download the app
- Take photos of your receipts
- Apply the Supplier Rules function so that you can set up all your regular suppliers with their specific payment terms, etc.
- Choose a sorting metric that works for you
- Use the “Invoice Fetch” function for recurring supplier invoices such as utility bills
- Use the “Auto-publish” function to directly publish your top 10 regular supplier invoices to your bookkeeping software, such as QuickBooks Online
- Train employees who will be using the software within your business, and consider KWB for your cloud accounting software training needs
- Use the “Cloud Archive” to keep receipts that you may need in the future
- Integrate the app with your cloud accounting software before you upload receipts
- Use your dedicated Dext (Receipt Bank) email address (provided with the app) to forward receipts, invoices, and bank statements
- Set up automatic forwarding so that you don’t miss an important document
- If you have a lot of receipts and documents to upload, set up the “Bulk Edit” function (found under “Tools” on the menu)
- Add and manage “Payment Methods” in your account settings if you use different credit cards, cheques, or debit to pay your various suppliers
- Add a description of the receipt or document before hitting submit – this will save you time at a later stage and is especially important if more than one person is using the app within your business
- Get more details on your transactions by signing up for “Automatic Line Extraction”
- Use “Expense Reports” for staff expense claims – your employees can submit their expense claims quickly and accurately in one click
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Haley has been working part time for KWB since April, 2013. She received her CGA designation in 1998 and worked in public practice for several years before taking time off to be home with her children. During that time she provided bookkeeping services to small businesses but was happy to return to public practice. While still doing some work in corporate year end accounting and tax Haley’s work is focused on managing KWB’s bookkeeping team and working to provide excellent online cloud based accounting services to clients.
Haley is married and has three children. She loves reading, enjoys camping, kayaking, hiking and travelling to ride roller coasters. Volunteering at the West Edmonton Mall Chapel has provided her with an opportunity to meet a variety of people from all walks of life.