Using Receipt Bank as an example, let’s take a closer look at what these services can do for your organization.
RESOURCE: Receipt Bank Submission Methods
Fetching will automatically login to supplier sites and download your receipts for you. Receipt Bank checks authorized suppliers weekly. Fetching frees you from having to visit supplier websites, logging in, finding the document and downloading it. Check out the extensive list of currently supported suppliers at https://help.receipt-bank.com.
With all the information extracted by Receipt Bank, you simply input a category for the expense. If it is a frequent vendor, you can configure supplier rules, including the category, default tax, and payment method.
Posting and Summarizing
If you are not using an online accounting program, you can use the CSV file to import the transactions or create a summary for posting into your accounting system.
Improved Workflow and Time Savings
- Bills and receipts are quickly captured and processed
- Multiple supplier documents are automatically downloaded and processed
- No more time spent sorting and filing invoices and receipts
- Quick and easy access to any document stored
- Secure archival of documents
I recommend giving automation a try for yourself. I have found the improved workflow and time savings are significant. Use the following links to sign up for a free trial.