Receipt Bank is a virtual accounting platform that lets you scan receipts and invoices, manage and track employee expenses, match transactions automatically, and more. Its features include expense management, data extraction, and simplified sales invoice management. Prices start at $12.50 per month, and it’s best for businesses that need to scan receipts as they receive them.
Receipt Bank Pros and Cons
Can be used for free
Paid plans are a bit expensive
Photo recognition is very accurate
Users report the program can be glitchy at times
Can capture and categorize expenses on the go
Customer support is reportedly unresponsive
Seamlessly integrates with leading accounting software like QuickBooks, Sage, and Xero
Who Receipt Bank Is Best For
- Businesses that need to scan receipts as they receive them: Receipt Bank’s mobile scanning app lets you scan your receipts on the go. Take a photo of your receipt and Receipt Bank will analyze and organize your data automatically.
- Accountants and bookkeepers that want to add receipt scanning support to their list of services: Receipt Bank has a partner program that includes dedicated account management, marketing support, best practice webinars, and exclusive networking events to help professionals attract and retain clients.
Receipt Bank Pricing
Receipt Bank is offered in three plans with fees that start at $12.50 per month. The main differences between the plans are the number of users, receipt and invoice scans, and bank statement extractions. The higher-priced plans also have more advanced features like more accounting software integrations, auto publish, and automatic expense reporting and approvals.
Features & Pricing
Maximum Number of Users
Number of Monthly Receipt and Invoice Scans
Number of Pages of Bank Statement Extraction a Month
Users with Receipt Bank’s Business plan may extract data from financial documents, collect invoices automatically, connect and publish to accounting software, manage employee expenses, and export data to comma-separated values (CSV) or PDF file.
The Business Plus plan includes everything that is in the Business plan, plus automatic publishing to accounting software, more accounting integrations, and the ability to add projects, tax rates, and payment methods to documents, import items from PayPal and Dropbox, set default categories for suppliers, match receipts and invoices in your bank feed or accounting software, and identify missing receipts, bills, and invoices.
In addition to the features in Business Plus, the Premium plan includes automatic expense reporting and approvals, and the ability to boost extraction speed for urgent items.
Receipt Bank Alternatives
Receipt Scanner Apps
(Best overall) Small businesses that manage a high volume of financial documents
Small businesses that want to manage employee expense reports
Small businesses with tons of receipts to scan and very little time to do it
Current QuickBooks Online subscribers
Small businesses looking for the best free scanner app
Receipt Bank Features
Receipt Bank offers a wide range of features that help you manage and track your receipts, bills, and invoices easily. Here’s a quick rundown of some of its top functions to help you determine if Receipt Bank is right for you.
Automated Transaction Matching
Receipt Bank codes your receipts and invoices automatically, so you won’t have to enter the information from your paperwork manually. Set a supplier rule, and Receipt Bank will apply that data automatically to your receipts for that supplier.
The software allows you to extract your financial data from receipts, invoices, and bank statements instead of requiring you to type the information manually into your accounting software. Just snap a photo of your receipts, and Receipt Bank will analyze it automatically and create accounting transactions. You may also upload your receipts from a PC or send them to a dedicated email account.
Create expense reports for your employees in seconds. Its built-in expense approver enables you to assign team members to check and approve employee expenses.
Upload an image of your invoice with the goods and services sold to your customers, and Receipt Bank will analyze and organize your sales. This lets you create truly customized invoices instead of being limited to the invoices produced by your bookkeeping software.
Most Helpful Receipt Bank Reviews
Users who gave positive Receipt Bank reviews mentioned that its optical character recognition (OCR) scanning functionality is accurate. Others like that it lets them capture expenses on the go while some commended its seamless integration with leading accounting software. Meanwhile, those who left negative reviews complained that the software is a bit glitchy at times and that customer support is not that responsive.
Can capture receipts on the go, and seamless accounting software integration
One user who left a positive review of Receipt Bank on Capterra is pleased that he can upload bills, receipts, invoices, and bank statements from his phone. He added that the software can be integrated with his accounting software without any hassle.
One user who shared a negative review of Receipt Bank on Capterra complained that the app easily corrupts, explaining that entries sometimes get locked and spreadsheets cannot be generated. He added that there is no way to extract the data when the app is corrupted, so he had to enter all the data again to create a spreadsheet.
Receipt Bank Frequently Asked Questions (FAQs)
How does Receipt Bank categorize my purchase items?
Receipt Bank categorizes your items by using your own chart of accounts. You may integrate it to an accounting software or import your chart of accounts and code your transactions based on your financial records.
Can I export my data out of Receipt Bank?
You can export your data from Receipt Bank in a CSV or PDF format.
Can I invite my accountant to access my data?
You can invite your accountant to access your data for free.
What software does Receipt Bank integrate with?
Receipt Bank integrates with the following software: Xero, QuickBooks Online, Sage Business Cloud, Sage 50, Sage Pastel, KashFlow, FreeAgent, Twinfield, Bill.com, WorkflowMax, Clarbooks, Gusto, Zapier, and more.
Our Top Receipt Scanner App Providers
To explore other receipt scanner options, read our article best receipt scanner apps where we look at a variety of solutions and narrow our recommendations down based on cost, ease of use, and key functions.