Overview
What is Dext Prepare (with Receipt Bank)?
London based Receipt Bank offers Practice Platform, an application supporting SMBs and accounting firms with tracking receipts and expenses and logging them with minimal or no paperwork and data entry in an environment that integrates with popular accounting software (e.g.…
TrustRadius Insights
Receipt Bank is awesome! If your will to pay the price
A good add on product to QBO for accounting firms
Avoid.
Big time saver for people processing invoices and receipts
Dext makes my life easier
Receipt Bank - Receipts made easy
ReceiptBank makes business life easier
Snap a pic and throw it away! Receipt Bank will take care of the rest.
Streamline and save with Receipt Bank Practice Platform
Popular Features
- Expense management (5)7.070%
- Dashboards (5)7.070%
Reviewer Pros & Cons
Pricing
What is Dext Prepare (with Receipt Bank)?
London based Receipt Bank offers Practice Platform, an application supporting SMBs and accounting firms with tracking receipts and expenses and logging them with minimal or no paperwork and data entry in an environment that integrates with popular accounting software (e.g. Quickbooks).
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Features
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 1.6Plug-ins(3) Ratings
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- 1.2Single sign-on capability(2) Ratings
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- 4.4Role-based user permissions(4) Ratings
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
- 7Dashboards(5) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 8.2Standard reports(4) Ratings
The software offers pre-built reports with metrics standard to the category.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 7.4Accounts receivable(4) Ratings
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- 1.8Bank reconciliation(3) Ratings
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
- 7Expense management(5) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 1.8Multi-currency support(3) Ratings
The software supports transactions across multiple currencies.
- 1.2Multi-division support(2) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 6.6Regulations compliance(3) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 1.7Self-service portal(3) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 1.2Global Financial Support(2) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 6.6Intercompany Accounting(3) Ratings
Automatically balance and reconcile GL for intercompany transactions
- 1.2Localizations(2) Ratings
Meet reporting requirements with country-specific localizations
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Dext Prepare (with Receipt Bank)?
Dext aims to make accountants and the businesses they look after more productive and profitable through better data and insights.
The solution combines real time data with practice productivity tools to free up teams to spend more time adding value.
Prepare finances
Users can Prepare, sort and automatically publish paperwork using Prepare with Receipt Bank.
Pull cost data from over 1,400 suppliers and automatically sort and categorise with smart supplier rules. Match paperwork with cost data through bank connections for reconciliation.
Includes tools to analyse tax, payment timing and talk to clients about cashflow, in real time.
Dext Prepare (with Receipt Bank) Features
General Ledger and Configurable Accounting Features
- Supported: Accounts receivable
- Supported: Bank reconciliation
- Supported: Expense management
- Supported: Multi-currency support
- Supported: Multi-division support
- Supported: Regulations compliance
- Supported: Self-service portal
- Supported: Global Financial Support
- Supported: Intercompany Accounting
- Supported: Localizations
Reporting & Analytics Features
- Supported: Dashboards
- Supported: Standard reports
Customization Features
- Supported: Plug-ins
Security Features
- Supported: Role-based user permissions
- Supported: Single sign-on capability
Dext Prepare (with Receipt Bank) Screenshots
Dext Prepare (with Receipt Bank) Video
Watch Dext Prepare
Dext Prepare (with Receipt Bank) Integrations
- Xero
- QuickBooks Online
- Kashflow
- Twinfield
- Gusto
- BILL
- Zapier
- Sage 50cloud Accounting
- MYOB Essentials
- Sage
- Tripcatcher
- IBIZA
- QuickBooks Desktop
Dext Prepare (with Receipt Bank) Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Unspecified |
Mobile Application | Apple iOS, Android |
Supported Languages | English, French |
Frequently Asked Questions
Comparisons
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Reviews and Ratings
(46)Community Insights
- Business Problems Solved
- Pros
- Cons
- Recommendations
Dext Prepare with Receipt Bank offers a range of features that simplify the process of capturing, managing, and organizing receipts for accounting clients. Users can easily capture and send receipts, eliminating the need for manual scanning and emailing. This saves time and improves data accuracy, making reconciliation tasks easier. The software automates the transcription of data from receipts and invoices, further enhancing accuracy during reconciliations. Users also have the option to backup receipts to Dropbox and integrate with Quickbooks Online, ensuring seamless attachment of receipts to the appropriate transactions. Additionally, the app helps manage expenses by sending notifications and automatically preparing expenditure data for integration with Xero.
The Receipt Bank Practice Platform is particularly useful for teams managing multiple clients. It provides visibility and insights across all clients, enabling effective client management. Team leaders can review bookkeeping progress, identify bottlenecks, and ensure tasks are completed on time. The platform also offers key metrics for efficient client management, allowing teams to easily track missing data and submit requests to clients. Seamless communication with clients via the app reduces email clutter and supports a paperless bookkeeping service.
Overall, Dext Prepare with Receipt Bank addresses common challenges such as receipt overwhelm, tedious data entry, and inefficient communication with clients. By streamlining the process of capturing, organizing, and managing receipts, it simplifies bookkeeping tasks for both internal organization management and client management.
Convenient Mobile App: Users have found the mobile app to be convenient and easy to use, allowing them to capture receipts on the go. Multiple reviewers have praised its user-friendly interface and seamless experience when using the app.
Efficient Data Entry: The ability of Receipt Bank to track which card is being used for a purchase has been appreciated by users, as it helps avoid duplicate entries in the accounting system. Several reviewers have highlighted this feature as a time-saving solution that streamlines their data entry process.
Accurate Information Extraction: Reviewers highly regard Receipt Bank's capability to extract relevant information from receipts and invoices accurately. Many users have expressed satisfaction with the software's accuracy in extracting key details, noting that corrections are rarely needed.
Limited Date Format Options: Some users have found it irritating that Dext Prepare only allows for the use of the European date format (DD MM YY). They express a desire for the option to manually enter dates in a different format to better suit their needs.
Inability to Manually Match QuickBooks Online Transactions: Several reviewers have expressed frustration with the inability to manually match a record against an existing QuickBooks Online (QBO) transaction. This limitation hampers the usability of Dext Prepare for sending receipt images to QB, according to these users.
Limitations of Mobile App and Receipt Image Quality: The mobile app provided by Dext Prepare has been criticized by some users due to its limitations. These reviewers mention that the app only allows publishing of expense transactions and severely compresses receipt pictures, making large receipts unreadable.
Users highly recommend this software for its easy and fast processing of bills and invoices. They find it to be a favorite time saver at work and praise its user-friendly interface. Many users suggest giving it a try to experience the time-saving benefits firsthand. The software is considered worth the price and the time investment to learn, making it a viable option for business owners. Users advise not overthinking but rather looking at the overall benefit and time savings when considering this software. To learn more about its features, users recommend trying the free trial version and watching YouTube videos. Additionally, users suggest getting a guided demo and speaking to the company about pricing options to get the most value out of this great product.
Attribute Ratings
Reviews
(1-8 of 8)- Mobile functionality
- Capturing receipt/invoice information
- Integration with accounting system
- Price
- Mobile app to capture receipts on the go
- Tracks which card is being used for a purchase
- Matches receipts against recent existing QBO entries to help avoid duplicate entries
- It is good at extracting relevant information from receipts and invoices
- It tracks emailed invoices by the destination rather than the origin, unlike QB's receipt service.
- Their ongoing insistence on only using European formatted dates (DD/MM/YY) is a constant irritation every single time I have to manually enter a date
- There isn't a way to manually match a record against an existing QBO transaction. It either finds it or you can't use Dext to send the receipt image to QB.
- The mobile app is extremely limited. You cannot publish any type of transaction other than an expense.
- The mobile app severely compresses pictures of receipts, which can make large receipts literally unreadable and defeating the purpose of capturing it.
It is hard to use for manual data entry, and if your clients frequently have very long receipts the Dext Mobile app does not work well as it compresses the image to the point where it is completely illegible.
It does not seem to be designed for business owners to use directly rather than using it through their accounting firm.
Avoid.
- Doesn't matter
- cause there are
- more and more options every day
- Customer service
- Honesty
Big time saver for people processing invoices and receipts
- Imports invoices and receipts via email or integrations
- Converts into data and remembers previous settings for seamless processing
- Integrates with a huge amount of accountancy packages (in our case Xero)
- Handles billing data, tax information, and much more
- The system to automatically pull invoices in from various online services is temperamental
- Almost too many features for a micro business like ours
Dext makes my life easier
- Convenient.
- Easy to use.
- Stress free.
- e-Invoicing - needs to support it.
- Sometimes errors still creep in.
Receipt Bank - Receipts made easy
- Ingest data automatically.
- Transfer information to accounting platform.
- Stores receipts in the cloud for later retrieval.
- The auto pull capability could be expanded to more suppliers.
ReceiptBank makes business life easier
- The accuracy of the expense allocation is excellent
- Very timely in having the receipts/expenses ready for publishing to Xero (our accounting system)
- The Android app is very good - the image capture feature is very easy to use
- It would be great if the receipt/expense could be published through the Android app rather than having to go the web version to publish expenses
- At times the currency is not captured accurately from the receipts (but this is a rare occurrence)
For our staff who manages Receipt Bank for our clients, this program allows us to clearly see the business purpose behind every bill and purchase. We no longer have to ask the client for details regarding every little expense-we already have the details! Even better, Receipt Bank syncs both with QuickBooks Online and Bill.com, two other platforms we use, so it makes it very easy to pay bills that come due as well as record all of the activity in QuickBooks Online for flawless financial statements.
- Receipt Bank does a stellar job of extracting information from photos of receipts and bills. I'd say 95% of the time the information pulled is correct, so very rarely do I have to correct an amount or date.
- One feature I really enjoy is not only the syncing with QuickBooks Online, but the fact that it also pushes the image to QuickBooks Online as an attachment! This means that for every expense/bill processed through Receipt Bank, an image of it is available inside of the transaction inside of QuickBooks Online. This makes researching a breeze.
- Receipt Bank makes it very simple for users to add documents to the platform. Each company receives a dedicated Receipt Bank email address, which they can email to and upload documents, or users can use the phone apps (which are really easy to use), or they can upload documents from their computer. Training our clients to use it really can't be any easier!
- One area that could really use some improvement is their training program for the people who manage the program (meaning those of us to who actually process the receipts and bills to an outside software). It's a whole separate website, it's somewhat difficult to follow, and it just doesn't flow well. The training for front end users (those submitting the bills/receipts) is not really in depth, either, but it is pretty intuitive. We've taken to writing up a 1 page instruction manual for our clients that qualifies as their "training".
- A feature I would love to see is the ability to process income items in Receipt Bank. It currently does not have that functionality. I have several clients that submit bank deposit detail, and it would be great if I could "publish" those to QuickBooks Online just like I do for bills/receipts.
- Expense reporting is a great feature Receipt Bank has, but it's somewhat complicated to understand. We receive lots of questions from clients surrounding this process, so some better training or simplification would be great.
But for organizations that are small in number of employees, and maybe they all have company credit cards and no expense reports, Receipt Bank isn't necessary. It's still a "nice to have" software, but not required because these types of employees won't be keeping copies of receipts anyway.