As 2018 draws to close, it’s time to reflect on what’s been a tremendous year. We’ve undergone a re-brand, released new product suites and launched more features and updates than ever before.
And, we couldn’t have done it without your support. Thanks to your feedback and beta testing, these top features have been possible. With this in mind, this blog post is dedicated to all our Partners, with a special shout-out to our beta testers.
Here’s a run-down of the top 5 features released this year.
OUR NEW SUBMISSION METHOD: INVOICE FETCH
In June this year we launched our new submission method: Invoice Fetch!
Invoice Fetch automatically collects your clients’ digital invoices from any supplier that bills via an online portal. Whether it's an e-commerce receipt, an energy bill or a mobile invoice, Invoice Fetch will collect and process these documents, so you don't have to.
There's no time wasted logging into your clients' supplier accounts to look for digital bills, and no more chasing clients to send you information on time. Simply setup Invoice Fetch, and let Receipt Bank do the heavy-lifting.
Check out the release blog to learn more.
Prior to the release of Invoice Fetch, a group of users beta tested out this feature and shared their feedback. We would like to thank everyone that was involved in beta testing this feature. Following the feedback shared, we made the following updates to Invoice Fetch:
- When you set up a new Fetch connection, you can select whether you want to fetch all historical invoices, or just the invoices from the past 30 days - so you only get the data you need in Receipt Bank.
- You will receive a pop-up message when you delete a supplier, asking you to confirm if you want to complete this action. This ensures that none of your connected suppliers are accidentally removed. You will also receive a success banner if you ask Invoice Fetch to check for new items, making sure you stay in control of your connections.
- You can request a new Fetch connection from the Fetch tab. If you type the supplier you are looking for and there is no result, it will give you the option to request a new connection.
- Admin users can see and manage all Fetch connections on the account and add new connections on behalf of another user on the account.
We are continually working and improving Invoice Fetch, so stay tuned for more updates coming in the new year.
BANK STATEMENT EXTRACTION
We don’t want you to have to spend more time than needed completing manual data entry. That’s why in November, we were excited to launch our new Bank Statement Extraction feature.
Bank statement extraction offers you a straightforward, secure solution to get your clients bank data into your accounting software. Simply upload your bank statements to the Receipt Bank web app, and we’ll do all the data extraction for you – so you can get on with the reconciliation process with no delay.
To all our beta testers, and the users we have received feedback from - thank you! We are listening and working on some exciting new updates to come to Bank Statement extraction coming in new year.
Some of the changes we have made so far:
- Only want your bank data in one place? Not a problem. Easily delete bank statements from the web app,
- If you notice an error in a bank statement extraction, you can easily report a mistake on your extracted bank statement from the web app.
Want to learn more about Bank Statement Extraction? Click here to read the release blog.
This year we released our cutting edge Match toolset:
When your client submits an already-paid item to Receipt Bank, it's a long and difficult process for you and your team to clean up the general ledger and reconcile.
Receipt Bank’s Match tools identify items that match the transaction lines on the bank feed and publish them in a reconciliation-ready state. If the transaction line has already been cash-coded, you can even send just the paperwork image across.
Even better, this means that you’ll be able to defend these transactions in an audit scenario, plus remove the risk of duplicate transactions if your client submits them to Receipt Bank at a later date.
With Match, rest assured that Receipt Bank’s extracted information correlates 100% with the bank feed, so there’s no need for review beyond tracking and categorisation.
In May 2018 we released Match tools including Bank Match, Paperwork Match and Outstanding Paperwork for Xero integrated accounts. Click here to learn more.
In October 2018 we released Paperwork Match for Quickbooks Online integrated accounts. Click here to learn more.
Coming soon in 2019 we will be releasing Bank Match and Outstanding Paperwork for Sage Accounting.
REQUEST OUTSTANDING PAPERWORK DIRECTLY TO YOUR CLIENTS’ MOBILE
We know one of accountants and bookkeepers’ biggest pain points is having to spend valuable time chasing clients to submit their paperwork.
In October 2017, we launched Outstanding Paperwork as a solution to get your clients to submit paperwork. Outstanding Paperwork creates an accurate reconciliation report of all the items awaiting submission, which can be exported as a PDF, CSV or Google Sheets to send to your client.
Partners loved this feature, but in true Receipt Bank fashion, this year we decided to make it even better.
In 2017, we beta-tested this feature ahead of release. Thank you to all involved that contributed to the roll-out in May 2018!
This update included the ability to send your customized reconciliation reports straight through to your clients’ Receipt Bank mobile app. This means no more chasing, no more endless email chains, all whilst ensuring high-level transparency. The mobile report provides your client with a list of everything that requires submission, so all your client needs to do is find the receipt and submit. Job done.
And that wasn’t all.
Read this release blog to learn about the other update made to Outstanding Paperwork.
5. RECEIPT BANK FOR ANDROID 3.0.0
In April this year, we released a new look for our Android mobile app. The aim of this update was to give the app a cleaner look and feel without compromising on functionality.
Benefits of the redesign included making it easier to:
- Identify which items are not ready for export in your item inbox
- Publish the item from the same screen, when reviewing your items’ details
- Autosave, so you’ll never worry about losing your work again (at least within the Receipt Bank app)
Find a full breakdown of the Android redesign here.
Before the launch of this redesign, we did our first ever beta test for mobile. It was a huge success. Many of you tried out the redesigned app and shared your feedback.
It was a hard choice to whittle these down to just 5, but there we have it. To wrap-up our year, here’s our 5 top product features to make you save more time than ever to do more of what you love.
Here’s a final thank you to all our partners and business users for your support.
We look forward to another year of working with you, developing more innovative, time saving, efficiency growing features in 2019!
The Receipt Bank Product Team