How To Build the Ultimate Xero Bookkeeping Service With Receipt Bank

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Xero has a shown a strong commitment to bookkeepers and the value they add from the beginning. This goes from their high-profile Head of Bookkeeping roles in their various territories to elements that are harder to spot such as their API which allows a range of exciting apps to integrate seamlessly with the cloud platform. As Xero’s largest and best-reviewed add-on, Receipt Bank helps accountants and bookkeepers use Xero to go even further for their clients. Here’s how you can create the ultimate Xero bookkeeping service.

The power of simplicity

It’s no secret that getting the data you need from clients is one of the main challenges to an efficient bookkeeper. The secret to a successful bookkeeping service is making it as easy as possible for clients to get their data into Xero.

Your clients take a picture of a receipt on the go using the Receipt Bank app, or any of our many submission methods. Our software extracts all of the data you need from the receipt so that you don’t have to.

 

Receipt Bank is such an essential part of our workflow, Xero and Receipt Bank are now just as important as each other.
Dave Gortner – Sky Books

 You’ll see an image of the receipt, along with all the extracted information in the Receipt Bank inbox. That’s stored for 7 years and is tax-compliant, so there’s no need for you or your client to waste space storing paperwork.

Once you’re happy everything’s in order you can push the receipt straight into your client’s Xero account. In time you can automate regular items to sync straight across into Xero without you touching them. So eventually you’ll only be dealing with the unusual transactions.

But Receipt Bank is more than just data extraction.

Data flowing both ways

Receipt Bank is the market-leading bookkeeping productivity tool and is only available to our Partner accountants and bookkeepers. It combines information from Xero and Receipt Bank to give a health check on your bookkeeping business and team.

  • You can see if there are any unreconciled items waiting in Xero that you need to chase your client for.
  • See at a glance how much time to put aside to catch up with each clients’ bookkeeping before their next deadline.
  • Receipt Bank will even tell you if there are Xero transactions that don’t have supporting documentation and generate a pdf you can send to your client.

Working alongside your account manager, you can refine your bookkeeping process so that it runs like clockwork, saving you time and boosting your profit by up to five times.

The secret to Xero bookkeeping success

Last year, every winner of Xero Bookkeeping Partner of the Year was a Receipt Bank partner. Read the story of Digitbooks, Australian Bookkeeping Partner of the Year 2016 here.

To find out how Receipt Bank can help you build the ultimate Xero bookkeeping service, visit our Partner page here.

The KPIs for Cloud Efficiency

There are six essential KPIs that are required for efficient cloud bookkeeping. Learn the difference they can make for your bookkeeping in our handy cheatsheet “The Power of KPIs”.

Download the factsheet to find out:

  • The data you need to track for your Xero bookkeeping efficiency
  • Process warning signs to watch out for
  • Why KPIs can be moulded to your business goals

Download Now