2017 Review of ReceiptBank

Receipt Bank bills itself as an automated bookkeeping service designed for small to mid-sized businesses. There is also an accountants program that is designed work with their practice management application for an all-in-one solution to offer clients.

Receipt Bank offers users multiple methods to submit their documents, which includes both receipts and invoices. Users can opt for the mobile app and just snap a photo of a receipt and quickly upload it. Receipts and invoices can also be emailed, uploaded directly from a computer, saved and uploaded from DropBox, or for those in the U.K. or Australia, mailed directly to Receipt Bank for processing. Businesses can also provide system access to regular vendors, allowing them to upload or email invoices directly into Receipt Bank.

Account administrators can invite employees to sign up for Receipt Bank and assign differing account levels as needed. There are three levels of user roles in Receipt Bank; Administrator, Expense Approver, and Basic User.

Receipt Bank uploads receipts and invoices in the currency in which the transaction took place. Any multi-currency capability would need to be processed in the accounting software that an organization currently uses.

There is no option for mileage tracking in Receipt Bank, though the product does offer integration with Tripcatcher for those in the U.K.

Product administrators can set up Expense Approvers in Receipt Bank. Approvers have the ability to send in items, view all user items, and approve expenses submitted by basic users. Administrators can also approve expenses submitted.

Though the product does not produce automatic expense reports, users can easily create an export report that can be submitted for approval. Users can include up to 6 categories on an expense report.

Receipt Bank offers integration with numerous third-party applications including QuickBooks Online, FreshBooks, Xero, Bill.com, Dropbox, and MYOB. The product also integrates with Gusto, as well as other U.K. and Australian applications.

Receipt Bank offers a searchable knowledgebase, where users can type in a search term to access a variety of help articles. Articles are categorized into four areas, Awesome Automation, Getting Started, Troubleshooting, and Accountants and Bookkeepers Partner Program. Users can also leave a message for the support team or submit a support request via the website. Receipt Bank has support offices in the U.S., the U.K., Australia, and France, with toll free numbers available for each location.

A good fit for small to mid-sized businesses with a need to manage receipts, Receipt Bank offers a single user and a multi-user plan, with pricing dependent on the number of items processed each month. A multi-user plan runs $25.00 per month for 50 items per month, with prices rising as item numbers increase. A free trial is also available.