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Receipt Tracking Software

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Can anyone recommend a piece of software for receipt tracking?

I want to become mostly paperless and would much prefer to integrate with clients on software where they have scanned/snapped their receipts rather than dropping off a bag full of them.

I can see receipt bank seems to work well for this but it does seem costly (from research) so wondered what others use?

Recommendations much appreciated!

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By New To Accountancy
05th May 2020 21:11

I use AutoEntry and I'm very happy with it, in fact I don't know what I'd have done without it during quarantine. I've only just started using it but already I'm navigating it easily. Basically I set my clients an email address ( done within AutoEntry), they snap their receipt / invoice etc and send it to the email address. I get a notification to say it/ they have arrived in my inbox and I check and link it with the bank statement which is integrated within my software. AutoEntry extracts all the data and as HMRC have stated they accept digital copies, I upload the data and save it ready for any inspections.
I could not earn much without it because the admin would take up all my time and I can't afford to take on a member of staff, so this has been priceless to me. Productivity has quadrupled.

Edit : I use this mainly for VAT clients, I've not used it for self assessment returns yet.
This month I think I've paid about £15 but I've been slower than normal due to covid 19 and my businesses being shut but I'll never grumble about the price because I could never get as much done for less anyway.

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By MrDSGrace
06th May 2020 12:20

I signed up last night upon your recommendation but I have to say that whilst it was appreciated I just cannot get on with it!

Files reject even though they are pdf or jpeg and within the upload limit. Ones that are accepted do not show on the reports and it takes an age for them to be processed.

I cannot see it being manageable for all my cients to be honest as it doesn't seem to be very user friendly, from what I've seen anyway.

But thanks again for the recommendation...back to the drawing board

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By New To Accountancy
06th May 2020 13:02

Oh no! I never had any of those problems but I used the app to take the photo and it went straight through, if you haven't already tried the app that may help. My clients use a variety of ways email, photos from mobile etc and again they've had no problems. There were small teething problems but nothing the chat couldn't solve. They offer training and maybe contact them to see if the issues can be resolved, I think it's worth persevering. I signed up because I took on a new business and changed the VAT quarters and had hundreds of invoices to sort within a short period and I wouldn't have made it without autoentry. I hope you manage to find what you need though because when you do, you'll never go back to doing it manually.

Edit : clients do not need to use autoentry, well mine don't anyway. They just 'share' the photo to the email address you give them. They do not need to know what goes on in the background.

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By MrDSGrace
06th May 2020 13:51

Funnily enough they called me to see how I was getting on with it and they are going to look into the issues raised.

I'll check out the app, thanks!

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By johnt27
06th May 2020 11:04

Receipt Bank if you've got lots of volume. Autoentry if you don't.

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By MrDSGrace
06th May 2020 12:22

I don't particularly like AutoEntry from what I've seen from the free trial and from research Receipt Bank seems very expensive.

All I need it for is for clients to snap their receipts and I'm able to see them in the software, rather than them sending me an envelope in the post with sometimes a couple hundred receipts.

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By johnt27
06th May 2020 12:56

It really depends on what your end accounts/bookkeeping system is here but both AE and RB are the market leaders for a reason.

If it's Xero you could look at Hubdoc which is now free. The scanning efficiency runs at about 60% of what you get from AE or RB. QBO now have an inbuilt scanning feature but again lacks the bells and whistles of the mainstream apps in this space. Sage now own AE and are talking up it's integration but i'm not holding my breath.

You could check out other solutions such as datamolino and others (google it) but again they lack certain features or integrations.

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By insolventnl
06th May 2020 13:05

What are the prices of these softwares? I just tried a quick look on receipt bank and I could not see the prices

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By MrDSGrace
06th May 2020 13:50

AE is based on credits with an upload costing 1 credit (line entries are more credits) and 500 credits costing £75. From some digging around some have suggested that for my needs RB would cost around £250pm!

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