From XU Magazine, 
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How Receipt Bank is helping you Keep Business Going

We find ourselves living in testing times.

For small businesses, the future is uncertain – which means that, for accountants and bookkeepers helping to sustain them, there are many new challenges to navigate.

It’s clear from conversations we’ve had with our partners that, now more than ever, firms are going the extra mile to support their clients as they face up to a generation-defining crisis.

That’s why we’re launching Keep Business Going, a purpose-built package designed to help you when you need it the most. In it, you’ll get:

  • Free use of critical features within our product
  • New features to ensure you can work remotely as efficiently as possible
  • Advice on how to use Receipt Bank to keep costs down and keep your practice open for business

ReceiptBankON

When you’re working remotely, communication is critical.

ReceiptBankON allows you to use real-time chat to discuss individual accounting actions, ensuring you can get immediate feedback from your clients, or provide timely advice on any specific item submitted.

As well as this, you’ll be able to send an outstanding paperwork report to your clients via the Receipt Bank mobile app, enabling a speedy and efficient response that ensures both parties stay on the same page. Or, in short: less time spent chasing paperwork and more time focusing on running your business.

ReceiptBankON is available to all our partners for free for three months.

How it works

Each item listed in your Costs inbox is now equipped with a messaging function, available via the menu in the top right. Once you’ve opened that chat box, type in your message and the client will receive it instantly.

It really is that simple.

Next up: how to send an outstanding paperwork report.

Head to your client’s Costs workspace, and look to the menu in the top right corner, where you’ll see an ‘Outstanding Paperwork’ option. This will let you automatically see the items that need to be reconciled in a specific bank account, but have yet to be submitted to Receipt Bank, Xero or Sage.

Select the items you wish to highlight, along with any customisable information – think date ranges, values of transactions, or accounts – and any notes you need to include.

Then, once you’ve selected your preferred format, you can send this directly to your client, who will receive a notification within their mobile app (as well as in their email inbox).

SmartItems

Alongside communication, this new remote working reality poses another problem: maintaining efficiency.

SmartItems is the catch-all name for a whole host of new features that allows you to work more efficiently with both your clients and your team. It’s free, and can be used regardless of your Receipt Bank package.

The bundle enables you to:

  1. Pull invoices from nearly 1,400 suppliers via Invoice Fetch;
  2. Automatically categorise each document;
  3. Then label individual line items of spend within each document, for tax purposes

SmartItems is another step towards truly hand-free accounting. It speeds up the bookkeeping process, and considerably reduces the endless conversations around missing paperwork you have with your clients every single day.

Most importantly, however, you’re also making it easier for your clients to connect their paperwork, and keep on top of their finances – something vital now more than ever.

How it works

Adding suppliers to Invoice Fetch is easy. As the video shows, all you need to do is hit the green button and add your full list of connections. Then, you’ll be able to search from a list of suppliers, and select the one you want.

Once you’ve logged into your supplier portal and connected – all done within Receipt Bank – your invoices from that supplier will be automatically added to your inbox.

From here, you can categorise your supplier, or edit the details of each line item within the invoice if you need to. Then, you’re ready to publish, and process this into your cloud accounting software.

This is the beginning of our support, not the end.

If you have any questions regarding these new features, don’t hesitate to get in touch with one of our team.

We’ll also be updating our Keep Business Going hub every week, including new and relevant content to help you through this ever-changing working environment.

In the meantime, stay safe, and stay strong.

Thank you.

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