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Software for Bank and expense recording

Recommendations for software that accepts bank fees and can record expensereceipts

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Any recommendations for software/app that can record bank transactions from a bank feed and store copies of invoices/receipts and produce a simple income and expenditure report. Xero used to do a very basic subscription but no longer and their basic level seems overkill for my requirements in this case. Do not need VAT, sales invoicing, multiple currencies etc.

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By johnt27
01st Dec 2020 17:13

What's wrong with the Xero non-VAT cashbook option? £5/month is cheap as chips, admittedly not as good as the old Ledger version, which is still available but doesn't support bank feeds. Although if you're that way inclined QBO usually give away licences for less than this...

Alternatively, you could try Bokio as it seems (from the adjacent post) that Wave are pulling out of the UK

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Replying to johnt27:
ALISK
By atleastisoundknowledgable...
01st Dec 2020 23:06

Cash book doesn’t record invoices etc

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Replying to atleastisoundknowledgable...:
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By johnt27
01st Dec 2020 23:19

OP asked about storing invoices, not recording/processing them...

Although I'm not a fan Hubdoc could be bolted on for a charge. I'd use Receipt Bank and use the bank match features to link invoices to the bank transactions which is worth paying the premium for.

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Replying to johnt27:
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By Davidw29
02nd Dec 2020 12:26

When I looked at Xero, non VAT cashbook version no longer appeared to be available.

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Replying to Davidw29:
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By johnt27
02nd Dec 2020 12:39

You have to be a partner to access ledger and cashbook subscriptions

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David Ross
By davidross
03rd Dec 2020 10:10

FreeAgent with a NatWest or Mettle Account? Free and you can hook up other banks at no cost.

Whilst FreeAgent is not a perfect accounting program the evidence is now there that they are investing the resources to make it so

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Replying to davidross:
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By sallyrichardson
03rd Dec 2020 10:36

Totally agree, FreeAgent all the way. You can attach paperwork and it even has a file storage area now.

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By WoodsBrendan
03rd Dec 2020 11:48

For all AutoEntry users, there is a module of functionality "AccountsPrep" within AutoEntry which I believe is the answer you're looking for. See the following overview demo ... https://vimeo.com/473826481

A VAT cashbook ledger solution for annual clients.
This comes at no charge for AutoEntry users!!

As it is combined with AutoEntry, you can either have AutoEntry automate the capture of the data from scanned/pdf bank statements. OR if you already have a csv file from your client, you can simply import it and use it for free - a huge benefit for AutoEntry customers.

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By Jessica Perrott
03rd Dec 2020 12:24

Our company is using AccountsPrep from AutoEntry and it has proved to be a perfect solution for us.
We are saving at least half the time to prepare an account - the automated capture of the bank statements has dramatically improved our process and increased our profit margins.

We found the team at AutoEntry to be extremely helpful and the made the transition very easy. The support given by AE is fantastic and I couldn't recommend them highly enough.

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Pile of Stones
By Beach Accountancy
03rd Dec 2020 12:43

Have a look at Quickfile, can handle bank feeds, has a storage area (on a bill by bill basis), and is "proper" accounting software. Software is £45 + VAT per year, bank feed add-on is £15 + VAT a year

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Replying to Beach Accountancy:
By tracyannw
06th Dec 2020 18:37

I back this Quickfile is good for smaller basic clients and very cost effective.

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By zahzah
03rd Dec 2020 13:29

QuickBooks Online. Simple Start package at £12+vat. But accountant dashboard has free licence and client licences are then half price.
Includes bank feeds and receipt storage, you can send email receipts, drag & drop files or photo the receipts in the app and then process. They are constantly developing this and many other features, incorporating many processes that would otherwise have to be bolt-on with additional costs

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By Eleanor O'Dwyer
05th Dec 2020 18:02

Our Accountancy practice is now using AccountsPrep from AutoEntry .

With the guidance and training from the AutoEntry team, all staff members now use
accounts prep to analyse the bank statements.

The time saving to prepare accounts has improved significantly. An example of which is a client in the pub trade with a lot of staff paid by bank transfers whose bank statements would have taken 40 hours to anaylse took 15 hours using accounts prep.

We found the team at AutoEntry to be extremely helpful and provide great support.
We would highly recommend Accounts Prep and the AutoEntry team.

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