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Receipt Bank Introduces Automated Document Collection Capability For All Users


Invoice Fetch will connect with 2,000+ suppliers

21 June 2018

Receipt Bank, the world’s leading bookkeeping productivity tool, have announced the introduction of fully automated invoice collection to their platform. Accountants and bookkeepers can now connect their client’s Receipt Bank accounts directly with their clients’ suppliers instead of regularly having to login and download invoices.

This feature is yet another development designed to help accountants and bookkeepers build a seamless client experience and reduce admin time so they can focus on what matters to their clients.

“As the amount of transactions that take place exclusively online increases, it’s a huge opportunity to integrate systems and save time”, explains Receipt Bank CEO Alexis Prenn.

“Every month, thousands of businesses log onto their energy, telephone or hosting suppliers’ website to download their invoice for payment and recording in their accounting software. Now Receipt Bank can do it for them. We pull the invoice into their account, read the data, and populate their cloud general ledger or Accounts Payable system. It’s one less manual task and one step closer to real-time, effortless bookkeeping data.”

This capability will be available to all Receipt Bank users, regardless of product tier, for no extra cost. On launch, users will be able to connect with over 2,000 suppliers – the market leading selection of any provider - and sync that data with cloud accounting systems including QuickBooks Online, Xero, Sage Business Cloud and Bill.com.

Receipt Bank plans to extend this functionality to bank statements later in 2018, as part of large scale product developments following their $50m Series B Investment in 2017, led by Insight Venture Partners.

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About Receipt Bank

Receipt Bank is the world’s favourite paperless bookkeeping platform, connecting accountants, bookkeepers and small businesses. Since 2010 we’ve been making it simple to capture, process and share financial documents so businesses can focus on what matters.

We remove the administrative burden of tracking financial information for SMEs and help financial professionals focus on their clients instead of processing data. Our award-winning automation technology accurately processes over 4 million transactions a month, for more than 5000 accounting and bookkeeping firms and tens of thousands of small businesses.

Backed by Insight Venture Partners and Kennet Partners, Receipt Bank is expanding globally bringing the benefits of smart technology to thousands of new customers every month to help them work smarter and grow faster.

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