Receipt Bank Review

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Last updated: Aug 16, 2020

Receipt Bank Review

ITQlick rating
(4.1/5)

Starting from $10 per user/month

Receipt Bank is a cloud-based accounting solution that is designed to assist in bookkeeping as well as billing and invoicing. The software solution promotes paperless bookkeeping by connecting the accountants a...

  • Categories :

    • Billing & Invoicing
    • Compliance
    • Procurement

Shlomi Lavi / updated: Aug 16, 2020

What is Receipt Bank Used For?

Receipt Bank is a cloud-based accounting solution that is designed to assist in bookkeeping as well as billing and invoicing. The software solution promotes paperless bookkeeping by connecting the accountants and the entire business. The software also makes it simple to capture financial documents as well as process the documents and share them.

Some of the core features of Receipt Bank include payroll management, purchase orders, expense tracking, document management, and many more. Receipt Bank is a software product that was developed and launched by Receipt Bank, which is a company based in the United Kingdom and was founded in 2010.

Average Rating -

The rating of Receipt Bank is 4.1 stars out of 5. The rating is based on ITQlick expert review.

Typical Customers

Customers of the software mainly come from small and medium businesses, although there is no restriction of industrial affiliation. It has been deployed in such industries as retail and wholesale, financial services, automation and manufacturing, and others. Some major customers of the software include Live CA, Just Bedding, and Lightning Training Limited etc.

Features

The software offers scanning of client bills, receipt and invoices in order to extract key financial information, thus removing the need for manual data entry. The data can then be published directly to the accounting software of the clients for reliable bookkeeping. Receipts and invoices can also be emailed for further processing. Other than email, the invoices and receipts can also be uploaded.

Receipt Bank offers the storage of receipts and invoices as scanned digital images which can be accessed anytime. The data is available for sharing and export round the clock with the option of publishing it into other software.

Receipt Bank 4 Pros

  • Easy to use
  • The software possesses some acute accuracy
  • Efficiency in organizing receipts and invoices
  • Great customer support

Receipt Bank 2 Cons

  • Data mining brings up issues at times
  • The graphical user interface needs to be modernized

Competitors & Alternatives

The two main competitors of Receipt Bank include Oracle Financials and Cashflow Manager. Oracle Financials is a complete suite that offers financial management solutions within businesses whereas Receipt Bank is an accounting solution that is designed to assist in bookkeeping as well as billing and invoicing. Oracle Financials can either be hosted on the cloud or deployed on-premise, while Receipt Bank can only be hosted on the cloud.

Unlike Receipt Bank which is tailored for the small business and midsize business, Oracle Financials is designed for the small business, midsize business, and enterprises. Cashflow Manager is an accounting solution that offers deployment flexibility as it can be installed on-premise or hosted on the cloud while Receipt Bank can only be cloud-deployed.

Cashflow Manager is designed to serve the small business whereas Receipt Bank is designed to serve the small business and midsize business. With regards to pricing, Cashflow Manager pricing starts at $22 per month while Receipt Bank starts from £10.00/$15 per month.

Receipt Bank Pricing Information

The cost of license starting from $10 per user/month. The experts at ITQlick has reviewed Receipt Bank pricing and gave the software a total cost of ownership (TCO) rating of 6 out of 10. Custom price cost for your business is available upon request.

Questions to ask the vendor during a demo

Schedule a demo and access 25 must ask questions for the vendor while watching Receipt Bank in action

Is it the right software for you?

Receipt Bank is an ideal software product for both individuals as well as companies that require their accounting needs to be met as well as automate the billing and invoicing processes. The software is designed to serve the small business and midsize businesses.

Receipt Bank Categories

Billing & Invoicing
Compliance
Procurement

Specifications

Company:
Address: Thurloe Street, London, United Kingdom
Website:https://www.receipt-bank.com/uk/
Customers: Start up, Small business, Medium business, Large business
Business Area: Cross Business Areas
Platforms: Desktop, Mobile
Operating Systems: Mac OS, Windows, Linux

Receipt Bank Features

Data Import/Export
Basic Reports
Online Customer Support

Receipt Bank Vs. Alternatives

ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100 score, based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 score, based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Hosting
Functionality score
Fit small business
Fit medium business
Fit large business
Software review
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