"Quarter of a Billion" Pieces of Financial Paperwork Processed by Receipt Bank

News provided by

Receipt Bank

21 Oct, 2019, 06:00 BST

1.3 million use platform to automate their bookkeeping 

LONDON, Oct. 21, 2019 /PRNewswire/ -- Receipt Bank - the world's leading bookkeeping automation platform, has reached a new milestone, digitally processing over 250,000,000 financial documents to date.

The digital accounting platform has allowed 1.3 million people to snap, scan and save receipts, invoices and bank statements since launching.

The financial documents are stored safely and filed correctly for bookkeeper or accountant access to customers' accounts. Receipt Bank works across platforms including Xero, Intuit QBO, Sage or even a simple spreadsheet.

Adrian Blair, Receipt Bank CEO, commented: "This is a huge milestone as we continue on our mission to make small business bookkeeping more powerful using machine learning. I'm delighted that more and more small businesses and their advisers are joining the Receipt Bank community."

Receipt Bank is now used by 63,629 professional business advisers, serving hundreds of thousands of small and medium-sized businesses globally.

Brits have submitted more than 100 million financial documents to London-based Receipt Bank's platform, awarding it the highest rating on the app store for bookkeeping apps.

One Receipt Bank business user commented: "I'm a Tour Operator. So you can imagine the amount of daily cash receipts. I started using receipt bank and I couldn't have asked for a better solution to my problems. I simply snap, upload and it goes straight into my accounting system - just like that!"

Receipt Bank's CEO Adrian Blair added: "Machine learning means that the more financial paperwork we process, the greater value we deliver for our customers. I'm excited by how we can genuinely transform businesses for the better by saving them time and helping them grow faster."

Notes to Editors

  1. Receipt Bank's mission is to make the business of bookkeeping simple and more powerful.
  2. Our award-winning accounting software is used by 63,629 financial professional users globally. The company is based in London and has offices in 7 markets with 450 employees, including US, Canada, France, South Africa, Australia and the UK.
  3. Receipt Bank processes more than 2 million financial documents per week and has the highest measured data accuracy rate in the industry.
  4. Financial paperwork includes receipts, bank statements, plus cost and sales invoices.

For media, please contact:
Paul Afshar
Head of Communications
+44(0)20-3510-2706

SOURCE Receipt Bank