At the core of any bookkeeping system is the task of receipt and invoice processing. Accurate and timely processing is essential for several reasons, including correct VAT input tax recovery, knowing how much is owed to suppliers and the production of timely and meaningful management reports.
We implement a cloud application which involves the installation of an app on your mobile phone. This enables business owners and their employees to capture receipts and invoices immediately after purchase and as simply as taking a photograph.
Every receipt and invoice is then reviewed in the cloud by our staff to ensure that it is correctly coded and complies with VAT regulations before it’s released for posting in your cloud accounting system.
This procedure saves businesses a lot of time manually entering receipts and invoices into their bookkeeping system. It also enables us, as your accountants, to apply our expertise and experience at the point of transaction capture, providing you with welcome assurance that VAT returns are correctly completed and that management reports are meaningful.
Receipt and invoice processing is a great example of how the use of modern tech permits businesses to be efficient and to release staff from mundane and time-consuming tasks. It also means no more carrying around a wallet (or a plastic carrier bag) stuffed full of paperwork!
The tech is well-developed and robust. If you would like to explore its implementation within your business, supported by us, then Get started.