By Emily Win
Fetch and you shall find!
Tired of looking around in your emails, on websites, on your desk to find an invoice in relation to a payment you made to a certain supplier?
Feel like you are spending too much time looking for paperwork when the world is meant to be moving towards a “paperless” state?
By using the Fetch function in Receipt Bank you will find ...
- You spend more time managing and growing your business. The Receipt Bank Fetch function automatically retrieves digital receipts or invoices from your supplier, where you normally would have to log in to your supplier’s website and download your bill. This gives you the time to focus on your business, instead of tracking down an invoice.
- Your bookkeeping processes and costs are efficient. The invoice being sent directly from supplier to Receipt Bank will save on bookkeeping time and if you are able to turn on Auto publish in receipt bank for that same supplier then that invoice will go straight through from supplier to Xero via Receipt Bank. This is clearly efficient bookkeeping!
- You have timely visibility of your businesses costs. Fetch will check for and download any new documentation from the supplier on a weekly basis. If invoices are needed more regularly then the click of a button in Fetch can ask the supplier to send the latest invoices through. Once this information feeds from Receipt Bank to Xero then you will have visibility of the costs of your company when you need it. No more waiting for invoices to be found until you have visibility of your costs.
- Your accounting records are more complete. This is always important, and particularly with the move to MTD for VAT return submission, HMRC now has more visibility than it used to over the electronic accounting records in Xero. Fetch will ensure for the suppliers that have been set up all of your invoices are captured and fed into Xero to support the payments made out of your bank account.
- Fetch is easy to set up initially and to manage going forward. Setting up Fetch for each supplier just requires your supplier website login details and you can set this up in a few steps. Your friendly accountants and advisors at de Jong & Philips are always a video call or phone call away to help you through the set-up process if required.
- Over 2000 suppliers are set up on Fetch. The list of suppliers on Fetch continues to grow, though it is worth noting that not all suppliers are currently on Fetch. Examples of suppliers on Fetch which a lot of agencies use are Amazon, Google, Thetrainline.com, Linkedin, Facebook, BT, Vodafone, EE, O2, and the list continues.
How can de Jong & Phillips help?
Contact us and we can help identify which suppliers you can get set up on Fetch, walk you through the set-up process and before you know it, you will see the efficiency benefits of using Fetch.
Who are we?
We are Digital Accountants and business advisors based in Epsom, Surrey who work with agency clients all over the UK as their finance team.