Choosing Your Coud Accounting Software: Capture Receipts in One Click
Save time on manual data entry and render priceless business analysis.
Cloud Accounting: Your All-in-One, Seamless Software Solution.
In today’s fast-paced, competitive business environment, having the right tools and systems in place is crucial for success.
One tool often overlooked is accounting software, which is painfully unfortunate, since accounting software can help you manage your finances much more effectively, saving you time and reducing the risk of costly errors.
With so many variations available, finding the best solution can take a lot of time. So, we have created this blog series, in order that we may help shed some light on the best options available on the market in 2023.
In order to elevate your accounting strategy to its maximum capacity, it's important to make sure your package covers all areas of your business operation.
For a business to run optimally, we recommend integrating a mixture of five essential categories (all of which will be covered in this blog series). These include:
● Bookkeeping/ Accounts Software
● Management Accounts and Reports
In last week’s blog post, we discussed choosing your accounting software in accordance with your business’ unique needs, so feel free to head over and read that first if you missed it (here, we consider cloud compared with desktop, scalability, user-friendliness, integration capabilities, software reputation, trial periods and pricing).
Today, we turn our attention to receipt capture, an innovative technology that saves you time on manual data entry, while also rendering invaluable business analysis...
Hubdoc.
Our pick for the best entry-level receipt scanning app, Hubdoc is free with Xero, inclusive to all businesses and perfect for new starters.
Publish your documents and their data directly to Xero with Hubdoc, using the vendor to automate how receipts, bills and statements are coded.
Hubdoc extracts key information from your physical documentation, such as receipts, invoices, and bills.
What does this mean for your business? Well, no more data entry and filing, for a start. And no more numerical errors
The app is super smart and easy to use. Simply snap a quick photo of your paperwork using the mobile app and dispose of the paper copy. The app will scan, extract, and store all your documents, leaving them ready for publication.
When it comes to electronic documents, they have that covered too. After you sign up, they will automatically generate a personal email address, specifically for emailing your e-docs. Simply send it over and they will take care of the rest.
Once you add an account, Hubdoc not only downloads your new bills, it also pulls and stores all of your past available bills, often over a year's worth of documents.
With everything pulled into one secure hub, you can say goodbye to chasing online bills/payments (and losing them...)
AutoEntry.
AutoEntry by Sage is a premium product that charges based on usage, saving you up to 90% of the processing time compared to manually entering receipts, invoices and statements, with up to 99% accuracy.
With fair and transparent monthly pricing, AutoEntry are that confident in customer satisfaction that they offer a contract-free, 'cancel any time' approach for software users.
With advanced features and a user-friendly interface, AutoEntry stands out to us as a reliable and effective tool for receipt capture.
One of the key strengths of AutoEntry is its unparalleled accuracy in data extraction. The software employs powerful optical character recognition (OCR) technology to swiftly and accurately convert paper-based receipts into digital data. This significantly reduces the likelihood of manual data entry errors, leading to improved financial accuracy and reduced processing time. Businesses can trust AutoEntry to capture and digitize receipt information with a high degree of precision.
Furthermore, AutoEntry integrates seamlessly with existing accounting software, including popular platforms like Sage, QuickBooks, and Xero. This compatibility ensures that captured receipt data effortlessly flows into your accounting system, eliminating the need for duplicate data entry and minimizing the risk of discrepancies. This integration not only saves time but also enhances data integrity across financial records.
With the mobile app, you can capture and upload receipts on-the-go, further enhancing convenience and efficiency.
Security is also a top priority for AutoEntry. The platform employs robust encryption and data protection measures, ensuring that sensitive financial information remains secure throughout the receipt capture and data processing journey. This commitment to data security helps businesses maintain compliance with regulatory requirements and instills trust in the software's reliability.
Dext Prepare.
Another premium product, Dext offers businesses a fixed-payment service, giving you all the bells and whistles of automatic data extraction.
Dext is an innovative app trusted by over 450, 000 businesses globally, providing business owners with the resources needed to stay on top of their financial affairs.
With the option to connect your account with PayPal, Amazon and more than 1,400 other suppliers, you won’t have to worry about missing paperwork.
Dext sorts your financial data by tax, supplier, and region, giving you a real-time view of your business finances, and publishing your figures to Xero automatically. This means no more anxiety when it comes to month end.
And automating bill capture with Dext couldn’t be easier. By taking pictures from your phone, forwarding emails with attached PDF’s and creating direct links with online supplier accounts, you can collate and process your purchase invoices, alleviating the need to type any of the information yourself.
Dext Prepare can act as your purchase invoice inbox and gateway to Xero. And you can further speed up the flow of information by setting up supplier rules and auto publish, since this prevents you having to re-check settings.
Cloud Accounting with Gow and Partners.
Our tech-savvy accounting team are experts when it comes to cloud accounting. We’ve helped hundreds of businesses across Lancashire transition from desktop to the cloud with ease. As part of our cloud accounting and app advisory service, we assess the unique needs of your business and review current systems, offering you a personalised software package to help streamline your finance function.
By acquiring your cloud accounting package with Gow and Partners, you'll receive a substantial discount on all your software subscriptions, while also benefiting from a fixed rate.
What’s more? After you connect your account with Gow and Partners, we'll be able to see your data in real time, helping us provide more accurate and relevant financial advice.
Set Yourself up for Success
Did you know that we run the highest rated accountancy firm in Blackburn with Darwen?
Book your 30 minute discovery call today— enjoy a relaxed, no-obligation chat with one of our qualified accounting advisors. We can assess your situation and determine how to best serve and add value to your business.
Alternatively, you can send us a message with any queries (big or small), and one of our team members will get back to you promptly.
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