If you would like to spend less time on data entry and more time growing your business, you should automate your bookkeeping with Receipt Bank.
Receipt Bank is a website application that extracts key information from your invoices and receipts and publishes it directly into Quickbooks Online (QBO).
Integrates with QBO
You can submit invoices and receipts to your Receipt Bank account in multiple ways including mobile apps, email, computer upload, DropBox and more.
- Transform the way your business does its bookkeeping
- Integrates with QBO
- Instant receipt scanning with the mobile app
Extracts all key information
Mobile app: (As easy as 1-2-3)
Using either the iOS or Android app
1) Open the app
2) Take a picture
3) Tap to submit the photo of your receipt for processing.
Receipt Bank will extract all key information including the item type (invoice, receipt or credit note), date, supplier, invoice number, total, sales tax and payment method. You can also add information including client, description, currency and project to your receipts before submitting them.
If you don’t have an Android or iPhone, items can be submitted by email. Every user is automatically provided with a unique, personalized @receiptbank.me email address. Invoices or receipts sent to an @receiptbank.me email address upload to your Receipt Bank account as separate items. Regular invoices from suppliers or providers that are received via email can be emailed directly to your @receiptbank.me email address.
For information on other submission methods, click here.
Once all the key information from your receipt has been extracted, your receipt will be transferred to the ‘Ready for Export’ section of your ‘Inbox‘ in your Receipt Bank account. From here, all the data can be downloaded as a CSV file, or published to Quickbooks Online (QBO).
When you submit a receipt for a supplier for the first time, Receipt Bank will make a best guess and assign the receipt a default category it thinks is most appropriate, for example office expenses. You can change the default category and it will remember this for all future receipts from this supplier.
Receipt Bank offers flexible pricing to small businesses and sole proprietors. Monthly pricing varies on multi user and single use plans. For more information on pricing, click here. However, as a client of KWB, Receipt Bank is included free of charge as part of the package of services that you receive from us.
If you would like more information on Receipt Bank or have any questions, please feel free to contact us at 780-466-6204 or email us by clicking here.
Thanks to Shannon Warawa of KWB Chartered Accountants for providing this content.
Shannon Warawa, CPA, CA
Shannon Warawa joined KWB in September 2005. Shannon received her Bachelor of Commerce from the University of Alberta in 1999. After articling with PricewaterhouseCoopers for three years, she was employed with Howard Kirkpatrick Associates during which time she obtained her C.A. designation. She marked practice questions for the 2004 Uniform Evaluation. In 2017, her name was added to the coveted Bunnock trophy when her team took 1st place in KWB’s 10th Annual Bunnock Tournament.
Shannon works part-time, is married and has 3 children. Away from work, she enjoys camping trips with her family, reading, attending her children’s basketball, hockey and lacrosse games. She has also been the volunteer Treasurer on the Parent Council of her children’s elementary school for the last number of years.