Why is everyone going paperless?

Does your wallet look like a filing cabinet? Do you find it hard to manage your paper receipts and bills, lose them and forget to claim them back?

At iKeep, we pride ourselves on being a paperless office! We have greatly reduced and practically eliminated the use of paper through this fantastic app called Receipt Bank.

But how is it possible? All you have to do is take a photo of your receipt or bill using the smartphone app. The software then takes key data from your receipt / bill including the supplier, date, invoice number, currency and the amount and send’s the information to Xero. No more collecting paper receipts and bills, and no more losing them!

Why should you get on board? Our question to you is why you wouldn’t!

The benefits of Receipt Bank

Here are 7 great reasons why we include a Receipt Bank subscription in all of our monthly bookkeeping packages:

1.      Your data is accessible 24 hours a day, 7 days a week, 365 days a year!

2.      Your data entry can be completed quickly and accurately as all your expenses are collated immediately!

3.      Your data is available from your desktop, laptop and smart phone from anywhere!

4.      You can send automated expense reports via email at the touch of a button!

5.      The need to carry sensitive papers out of the office is eliminated through the storage and backing up of your documents using Receipt Bank.

6.      By moving to a paperless office, you can reduce office and stationary costs including: filing, storage space, and printer costs.

7.      It provides an audit trail of when documents are sent and received. You can provide this to your accountant knowing you’re 100% compliant!

Through Receipt Bank, we have been able to streamline our internal processes and also increase our team’s overall efficiency.

Don’t let this continue to be just a novel idea, make it a reality today.

There is a reason that we include a Receipt Bank subscription complimentary with all of our monthly bookkeeping packages...

Contact us and we can help you get set-up!

Comments

Post a Comment

Popular posts from this blog

It’s 2024 fringe benefits tax (FBT) time!

  As the 2024 fringe benefits tax (FBT) period approaches, it’s essential to note key dates and obligations. Employers who have provided fringe benefits to their employees or their associates between April 1, 2023, and March 31, 2024, are required to lodge and pay their 2024 FBT returns promptly.  Notable dates to remember include: The conclusion of the 2024 FBT year on March 31, 2024. The deadline for lodging FBT returns and settling any outstanding liabilities to avoid penalties and interest is May 21. For electronic lodgments through tax practitioners, the due date for lodging and payment is June 25. Employers new to lodging with a tax practitioner must ensure inclusion on their FBT client list by May 21 to be eligible for the June lodgment and payment timeline. Even if no FBT return is necessary, registered employers must inform the Australian Taxation crucial, the ATO recognizes exceptional circumstances and encourages proactive communication for those experie...
Read more

Managing Cashflow for Small Business

  Any business owner will tell you that managing business cashflow can be a real juggling act. Cashflow is one of the most common problems that cause business owners to lose sleep. Gaining control of your small business’ cashflow will go a long way to improving your peace of mind and reducing stress. So  how Can a Business Improve its Cashflow ? Identify Identifying certain triggers in particular sales and payments will make a significant difference to cashflow management. Analysing outgoing payments and noting when they regularly occur will go a long way to ensure strong cashflow. Some of the key areas to consider are: Payroll for staff Supplier payment terms and conditions Australian Tax Office Utilities Finance including bank fees and loans Rent Payment to suppliers Customer payments including refund policies There are number of business costs that must be accounted for to help create better cashflow management for your small business. Becoming aw...
Read more

Federal Court Decision on Employer’s Failure to Pay Annual Leave Entitlements

  The Federal Court of Australia recently ruled on a case involving an employer’s failure to pay a worker’s accrued annual leave entitlements upon termination, underscoring the importance of compliance with the Fair Work Act 2009 (Cth) and the severe repercussions of non-compliance. Case Background The case focused on the worker’s claims that the employer had dismissed him for exercising his “workplace rights,” imposed unreasonable working hours, and failed to pay his accrued entitlements upon termination. The court found the employer in breach of section 90(2) of the Fair Work Act for not paying the worker the amount equivalent to his accrued but untaken annual leave when his employment ended on December 9, 2021. The owed amount of $8,022.82 was paid only on March 30, 2022, nearly three months after the termination. Seriousness of Breaching the NES The court emphasized the seriousness of breaching the National Employment Standards (NES), stating that “any breach of the NES...
Read more