|
Hi Carol,
I use Receipt Bank for a lot of my clients, and have done for almost a year now.
I don't tend to use the envelope service, and I know that they recently started to charge extra for this (I think it's £3 per month). When I first started I did envisage some clients using this and did ask about getting the paperwork back. I was told if I wanted the paperwork returned it was possible for a small fee, otherwise they securely destroy it.
I work in two ways. First, I scan and upload the client invoices. This still workes out a lot quicker for me that inputting the data. The second way is that the client uploads their own. Many take photos of receipts as they get them with their phone and upload using the receipt bank app, or scan invoices as they arrive and upload them, or ask the suppliers to email the invoice to them. If the client does it themselves they get a discount.
I have found the error rate to be minimal. They use a safety first approach and if they make any assumptions they leave a note to say what they did and you can change it. If something is missing like a date, or value it's flagged for you to review. I've not really had any errors as such. You can also set up the workflow for suppliers.
They have a few ways of viewing the paperwork. It can be made secure so you and the client log into the system or a less secure way. I have no experience of the less secure way though. They also pass the pdf to xero to be tagged to the transaction.
All the paperwork can be downloaded in PDF and stored locally if you wish. Because I have it in Receipt Bank and Xero I don't bother because the chances of them both dissappearing on the same day in tiny. Remember though, that HMRC have stated that documents need not be kept in hard copy, they can be scanned and stored.
As said, I use Xero. I tested Kashflow but just don't like their user interface. I agree on the face of it Kashflow look cheaper, but Xero have special prices for bookkeepers and accountants that are not on the website. Thats not to say that Kashflow isn't any good, in fact there are many things it does well that I'd love Xero to do, but don't yet.
Receipt bank are also trialling a system of extracting data from each line of an invoice. I think it'll be an added extra, but as I don't use it I can't comment on how good or bad it is.
Hope this helps.
Kris
|
