"I capture every single expense now" - Richard Jack, TV director, on using Receipt Bank & FreeAgent
Previously my expenses involved being a proud owner of a big receipts spike. I stuck all my receipts on there and once every six months, when it was full, I would pull the receipts off the spike and enter them into QuickBooks one by one.
I had been discussing with my accountant about moving to an online system. We settled on FreeAgent and my accountant suggested we use Receipt Bank to avoid having to enter them in manually. I started a free trial, tried it out and then subscribed! The biggest impact Receipt Bank has had is that I now capture every single expense.
In the past, if I was buying a sandwich for example, I usually wouldn’t bother keeping the receipt because I know I’d have to process it later, and it wasn't worth the hassle. Now within minutes, it’s snapped and in Receipt Bank.
No matter how my receipts come into me, within a minute they can be in Receipt Bank. When I buy a train ticket, I sit down on the train and take a photo of it on the iPhone app. Every month, I receive an email from Vodafone with a download link for my phone bill – I save it straight in to my Receipt Bank linked Dropbox folder and it’s on the way in.
If I receive an invoice as a PDF attachment, I just forward it on to email@example.com. I no longer need to waste the best part of a day every 3 to 4 months - Receipt Bank has also removed the heart-sinking feeling you get when expenses are accumulating.
It now feels like very little effort on my part. I snap it into Receipt Bank, and review them before sending it on into FreeAgent - already linked to the relevant client and project there!