Dext Prepare (with Receipt Bank)

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Dext Prepare (with Receipt Bank)

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What is Dext Prepare (with Receipt Bank)?

Entry-level set up fee?

No setup fee

For the latest information on pricing, visithttp://dext.com/accountants-and…

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.

1.6

Avg 7.1

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.

2.8

Avg 7.9

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

7.7

Avg 7.5

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

3.7

Avg 7.3

7.6
Accounts 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.
1.7
Bank 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.
7
Expense 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.
1.7
Multi-currency support
(3) Ratings
The software supports transactions across multiple currencies.
1.2
Multi-division support
(2) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
6.7
Regulations compliance
(3) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
1.7
Self-service portal
(3) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
1.2
Global Financial Support
(2) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
6.7
Intercompany Accounting
(3) Ratings
Automatically balance and reconcile GL for intercompany transactions
1.2
Localizations
(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

Show Unsupported 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

Screenshot of Dext Prepare Inbox & Mobile app

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

Hubdoc and Expensify are common alternatives for Dext Prepare (with Receipt Bank).

Reviewers rate Standard reports highest, with a score of 8.4.

The most common users of Dext Prepare (with Receipt Bank) are from Small Businesses (1-50 employees).

Comparisons

View all alternatives

Compare with

Hubdoc

Plooto

Expensify

BILL

Microsoft Dynamics 365 Business Central

Ramp

QuickBooks Online

SAP Concur

Xero

Zoho Expense

Reviews and Ratings

(47)

May 7th 2024

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

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.

Reviews

(1-10 of 10)

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Functional, Simple, and Effective Receipt and Bill Processing Platform

Rating: 8 out of 10

December 21, 2023

Verified User

Vetted Review

Verified User

4 years of experience

Use Cases and Deployment Scope

We are using Dext Prepare for our receipt capturing platform. It makes it very easy to capture receipts, invoices, bills, and it is also very easy to upload these invoices. There are multiple ways of uploading receipts and they are very convenient. We used to scan, save copies of invoices, and email across each other but we don't need to do that anymore.

Pros and Cons

Mobile functionality
Capturing receipt/invoice information
Integration with accounting system

Likelihood to Recommend

Application suits well to multiple user structure where users buy and pay expenses on the go so each user would have their own mobile app and access to Dext Prepare and soon after the purchase, they take a picture of the receipt and upload so finance team can access the information straight away. It would not suit well where a business has very few users who pay the bills and most bills are on the cloud (via emails, all-digital in the first place). Because these bills can be emailed to the accounting system in the first place anyway or other software providers where monthly subscription is much cheaper.

Receipt Bank is awesome! If your will to pay the price

Rating: 8 out of 10

July 24, 2022

Verified User

Vetted Review

Verified User

3 years of experience

Use Cases and Deployment Scope

My field of work, hospitality, comes with a lot of bookkeeping due to a large number of suppliers and transactions. Keeping track can be a nightmare. Paper receipts and invoices everywhere and mindless data entry. Receipt Bank eliminates the two most annoying parts. Saved digitally and little to no data entry!

Pros and Cons

Pulls data from photos of text
Error recognition
Data access and manipulation
Easy to use

Likelihood to Recommend

Receipt Bank is perfect for bookkeeping for business with a large volume of paper invoices and receipts. You can snap a pic and discard all hard copies. The fact that RB does all the hard work for you is magic! This app made the bookkeeping side of running my business a breeze. I think RB is less appropriate for businesses that have a low volume of receipts and invoices to manage.

A good add on product to QBO for accounting firms

Rating: 8 out of 10

May 19, 2022

Russell Barnett, EA, CTS

CEO

SIlicon Valley Tax Coach (Accounting, 1-10 employees)

Vetted Review

Verified User

2 years of experience

Use Cases and Deployment Scope

Dext Prepare (with Receipt Bank) makes it easy for accounting clients to capture and send receipts to us. We can then easily back these up to Dropbox for them and also send them to QuickBooks Online to be attached to the appropriate transactions. As an accounting firm this is a great tool. It generally does a good job tracking which card is being used to pay for things so it can send the transaction to the correct QB register. Dext Prepare (with Receipt Bank) can also be used to create expense reimbursement reports based on submitted receipts, and will send them to QBO for payment.

Pros and Cons

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.

Likelihood to Recommend

It is great for accounting firms. Easy to add and administer client accounts. Easy to integrate with QuickBooks Online. Easy for clients to capture and submit receipts on the go.

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.

Rating: 1 out of 10

March 04, 2022

Verified User

Vetted Review

Verified User

3 years of experience

Use Cases and Deployment Scope

I would never use them again. I decided to scale back some accounts that were not used to reduce my costs - suddenly the one assistant who didn't cost me any additional fees when I added her meant that I couldn't go back to my original package and original price. They would charge me more money. I'm glad they need the money that much - cause I and my clients have moved and I will bring them no additional ones. Don't trust this company. Not ever.

Pros and Cons

Doesn't matter
cause there are
more and more options every day

Likelihood to Recommend

Big time saver for people processing invoices and receipts

Rating: 9 out of 10

February 28, 2022

Verified User

Vetted Review

Verified User

5 years of experience

Use Cases and Deployment Scope

Dext Prepare (with Receipt Bank) is a neat little app that can help you manage your expenses in numerous ways. We use it to send all our receipts, invoices, and payment notifications and from that it reads, learns, and prepares all of the expenditure into Xero with the integration. Dext Prepare (with Receipt Bank) will handle who the invoice is from, how much it is, which category it should be stored in, and any tax information while also remembering this for future invoices from the same place. It saves us hours of data entry and provides more accurate data, making reconciliation a breeze.

Pros and Cons

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

Likelihood to Recommend

If you already have an online accounting package, then this can be a great add-on to manage your expenditure and expenses--it works for a micro business as well as one with a number of employees and handles personal expenses as well as it does company ones. The app is pretty good, too, and it all just makes handling our finances so much better. It is not expensive, although it is an addition cost to your accountancy package. If you have nothing to integrate into (in our case it was Xero), then it would probably not be that useful, but for anyone else, I think it would save you hours or more.

Dext makes my life easier

Rating: 9 out of 10

February 09, 2022

Robin Sands

CEO

Link4 (Information Technology & Services, 1-10 employees)

Vetted Review

Verified User

4 years of experience

Use Cases and Deployment Scope

Dext Prepare is great to snap a receipt on the run and have it entered straight into the accounting system. This can be out for coffee, a meal, travel expenses, whatever you get a receipt for. You can safely throw the receipt away as you will have a digital copy to refer to. No need to carry all those receipts around!

Pros and Cons

Convenient.
Easy to use.
Stress free.

Likelihood to Recommend

Great for capturing physical receipts you have or PDFs that are emailed to you. It doesn't handle e-Invoicing yet but it is logical they will add it.

Receipt Bank - Receipts made easy

Rating: 10 out of 10

March 13, 2020

Craig Jolly

Director

Imagine Homes (Construction, 1-10 employees)

Vetted Review

Verified User

1 year of experience

Use Cases and Deployment Scope

Receipt Bank is used across the organisation. Empoyees simply photograph any purchase receipts and forward them via their phone. Receipt Bank transcribes the data and has it ready for approval and transfer to our accounting software. In addition to the manual uploading of receipts and invoices the program also automatically ingests information form some of our suppliers - negating any work on our behalf except checking the detail during reconciliations.

Pros and Cons

Ingest data automatically.
Transfer information to accounting platform.
Stores receipts in the cloud for later retrieval.

Likelihood to Recommend

Receipt Bank simply takes the hard work out of getting information into the accounting platform. It doesn't take much to learn and when you think you have broken it the help desk support is outstanding. There are a couple of known glitches that require data to be re-entered in certain circumstances (related to input mistakes by humans). The ability to reverse these as opposed to delete and re-enter is the only improvement I can think of. If my employees and I were more competent at entering the data this would not be an issue either.

ReceiptBank makes business life easier

Rating: 10 out of 10

March 28, 2018

Nicola (Nicki) Morris

President | Business Consultant | Certified Coach

The Neoteric Group (Management Consulting, 1-10 employees)

Vetted Review

Verified User

4 years of experience

Use Cases and Deployment Scope

We use ReceiptBank across the organization for the tracking of receipts and expenses. It addresses the business problem of 'receipt overwhelm' - it allows us to be more efficient with the tracking of receipts and expenses. It also enhances the accuracy of our expenses and therefore the accuracy and timeliness of our financial statements.

Pros and Cons

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

Likelihood to Recommend

Well suited to any business (sole proprietor, partnership or corporation) that has team members with expenses and receipts. It is also well suited for any business that wants to improve its expense control and accuracy of expense tracking and allocations.

Snap a pic and throw it away! Receipt Bank will take care of the rest.

Rating: 9 out of 10

February 24, 2018

Alicia Gates, CPA

Bookkeeper

Two Roads (Accounting, 11-50 employees)

Vetted Review

Verified User

2 years of experience

Use Cases and Deployment Scope

Receipt Bank is used in both the management of my organization and the management of many of our clients. For the people who use Receipt Bank, it's a wonderful tool because they can immediately snap a picture of a bill or receipt, and then toss the hard copy. No longer do they have to keep track of receipts - it's already taken care of!

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.

Pros and Cons

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!

Likelihood to Recommend

For organizations that require in depth detail in their financials, meaning detailed records of every expense, Receipt Bank is a great option. Accounting firms that are preparing the books for their clients in a cloud atmosphere will most certainly appreciate the ease of use provided with Receipt Bank.

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.

Streamline and save with Receipt Bank Practice Platform

Rating: 10 out of 10

February 02, 2018

Tim Hoopmann

Founder

Spinn Business Solutions (Management Consulting, 1-10 employees)

Vetted Review

Verified User

3 years of experience

Use Cases and Deployment Scope

Receipt Bank Practice Platform has been implemented to make managing multiple clients on Receipt Bank more efficient. It allows visibility across all clients proving insights and information vital to managing clients. It is used across the organisation by all team members. It provides key metrics for the team to effectively manage clients' usage of receipt bank. It allows them to identify where key data is missing and needs to be submitted by the clients. It allows the team leaders to review the bookkeeping progress and identify bottlenecks that will inhibit tasks being completed on time. It provides seamless communication to clients via the app so as not to add more emails to their inbox that may go unnoticed. It assists in our delivery of a paperless free bookkeeping service.

Pros and Cons

Key metrics on the submissions by clients and any delays. This allows for early identification where client may be struggling to get the information submitted to Receipt Bank, holding up the bookkeeping processing and ultimately delays in delivery of information to the clients.
Identifying unprocessed receipts sitting in the clients Receipt Bank file.. This assists in managing internal workflow and aiding team members who may find they need assistance in completing key tasks.
Identifying which clients are using Receipt Bank effectively and which clients need assistance. This can provide the opportunity to discuss with all clients what works well for them and what needs improvement by sharing some of the wins from other clients.
Providing managers the ability to review with ease the progress of Receipt Bank processing by client and by bookkeeper. This allows them to identify issues literally before they occur.

Likelihood to Recommend

Receipt Bank Practice Platform is well suited when you have a lot of clients on Receipt Bank. We had over 90% of all clients on Receipt Bank so it was a very useful tool. In the early stages of bringing on new clients to Receipt Bank, it may not be as effective. Once you get to 10+ I believe it becomes a game changer. Is all about managing the bookkeeping process internally and Practice Platform helps streamline this process.