So what do we do once we scan all our invoices and receipts onto our computer.
Well, we have a party of course!! Ok, we don’t but this is where things really work wonders.
We use automated software to upload the receipts and invoices, which then reads the invoice and extracts the supplier name, date, GST amount and puts these details into a bill. Then you can then export this to Xero where the PDF attachment of the invoice or receipt is attached to the bill and you can then reconcile this in your accounts.
We find that using an automated software helps with the process of audits in ensuring that the source documents are all in Xero as well as streamlining this process to ensure that the correct information is sitting against each spend money transaction.
So what is the name of the software I hear you ask! Well there are quite a few that you can choose from and we list them below.
AutoEntry – https://www.autoentry.com/
Entryless – https://www.entryless.com/
Hubdoc – https://www.hubdoc.com/
We have found over the years that we like to work with AutoEntry as it gives us the flexibility for our clients as well as is able to handle multiple lines on bills and receipts quite well.