Capture Business Success with a Photography Receipt for Management

Photography receipt for Management

hello everybody and a very warm welcome to today's video in today's video we're going to talk about the world of receipt capture and just how darn good it can be for you for making sure that you are putting all of that information into QuickBooks in the most minimal of weight possible my name is Aaron Patrick this video is going to help you be more efficient and getting data into QuickBooks online so don't you dare miss it [Music] hello my name is Aaron Patrick I am a chartered accountant a certified UK trainer a Fan's new logo that quickbox chap on the internet head of accounts here at buffix and also your friendly podcaster who goes live each and every 8 30 a.m on a Monday morning for ask the accountant now in today's video we're going to be talking about the magic that is receipt capture in QuickBooks online and I do feel like it's one of the features that gets missed every now and again people forget how brilliant the solution is and just how easy it is to use but first of all what is receipt capture well it's dead straightforward you got a receipt you need to get it into QuickBooks Online how are you going to do that well honestly it couldn't be easier all I'm going to do is grab my phone I'm going to go and open up my quickbox app and I need this receipt into QuickBooks what do I do I open it up and at the top there it says snap receipt I press snap receipt it opens up my camera I grab my receipt hello and I press use this photo and that's it in essence video done but it's so much more than that you see what's happened is QuickBooks is now reading this information for us I want the python really cool it's not just receipts we can do bills as well and just the same idea grab a phone have a look at it press snap receipt go and grab the thing make sure it's in hand hello and if I press capture use this photo that'll be brought in as well now you don't have to just use your phone I'm just showing this as the quickest way possible of doing it if I were to go into QuickBooks online and I would head over to the banking area and go to receipts that actually tells you the avoid's doing it you can upload from computer so you can grab some documents to put them straight in there really useful maybe because scanning just want to scan for you some document to put them in really straightforward that way or you can even customize your receipt so I've done receipts at quickbooks.com and then what you have the opportunity to do is then be able to send those over there and it's just going to make your life easier because once you've got that customized email up and running and are ready to go that means that you can set rules within your Gmail Outlook whatever email provider you're using and that means that every time that Virgin Media for example send you an invoice well just get it forwarded straight into QuickBooks that way it's one less thing for you to worry about isn't it but why do why should we go to putting the items into receive cap kit well first of all it's just really clever so these are the items we've just taken a photo of if I click onto it now in this case it's found a receipt for me to match against now to explain what that means in a minute but look what it's done it's gone and seen this on the left hand side and it's found the date even though the date is all over the place on this one like first of the third 20 over there you've got this horrible red thing it's crumbled as well it's found the amount 58 pound 40 58 pound 40 and it's even noticed that there's been nine pounds 73 for that and 9.73 sat there now in this case it's found the expense we've already got there from the bank and it's now going to match it for me so basically if you've already done your bank you can use this to take photos to automatically add on the actual evidence of a seat to prove that expense in the first place which we really love but if I was in a position here where I'd never put this through the bank well I get to put my document type through here and I can choose if it's a receipt or a bill it's extracted most information for me I can choose where the bank has been paid for what type of banking or what type of tax it was I can even choose my category down here as well a new feature as well is the opportunity now to use split expense which means you can split those receipts into multiple different categories or tax bills so that you to make sure they're absolute spot on all the information we're showing you there can also be done in your phone so you can go back to your QuickBooks app from there and you can actually go in and make sure that everything we've just said is also in there how cool is that now I mentioned the fact that you can create into a bill so this Virgin Media One again has gone through QuickBooks it's found the transaction it's not the best photo in the world but it looks of it when I took a photo but it's still been able to find the four pound 80 there it's gone through now if I go and look at the transaction itself and actually probably best if I zoom out a little bit on this one we've got a better chance to see it um and can see exactly what this invoice looks like but it's found that four pan 80s put that in there it's gone put that information there and it's been able to actually go and see that transaction which is huge and by far one of the best parts about this solution then you can create as a bill and then it can go through going from there in fact in the new bill area so the build functionality of inquiry books online when you come to add a bill like you've got up here you have the option to upload from complete computer director from here so we already got the PDF put it in here it's going to start putting that information in it's going to make it more accurate speed up time and it's just going to make it so much easier for you to use but that's not all you see the thing about this is this technology isn't brand new and exclusive to QuickBooks this whole OCR technology taking a photo bringing it in taking a PDF and uploading the data you see QuickBooks owns the solution right so that means it can be a little bit more clever in the way that it deals with it now this bit's super clever now because they've got that deep integration because it's their own solution then there's bits that we don't get in any others for example here I'm in the four review section remember for review typically means in QuickBooks world that it's not in QuickBooks it means that we've still got to say what it is is it matches it an ad and we've got to process that transaction but watch this and I scroll down there's this Tesco fuel here and it says one match found now if I go to my receipts area and I look at what we've entered in here we've got the opportunity for it's saying 89.90 this Tesco Superstore there and while I'm here as well it's also telling me there's a duplicate here so it's making sure I don't double count anything if I go to my banking area though look at my Tesco fuel well it's not actually found a match as such it's found a receipt that matches the attraction and attachment and attached it for you so instead of me guessing is this motor expense or not what that is it going to be and having to try and figure it all out I just click on this little button here I can see the transaction oh look yeah it was it did have 20 on it it was fueled by looks a bit diesel so I'm correct to put that tomato expenses maybe even put the motor fuel but that's completely getting rid of the guesstimate I don't need to guess now once I add this I can split it here if I need to as well once I had it than in QuickBooks online greenbox online that transaction is now absolutely perfect it's got the One online banking match at the top telling me whereabouts it appeared in my bank so I know that it was definitely legitimate transaction I know now that things have been put to the right place what I also have is a copy of the receipt at any point in time to go back to and look at and that's all by using the power of receipt capture and there we have it there's receipt capture it can take bills it can take receipts and then it gives you an opportunity to speed up if you can get receipt capture into your workflow you have a much better time and we also know that more updates are coming that split expense receipt feature that's brand new that was only released a couple of weeks ago so we know that there's going to be more features coming QuickBooks and looking at it so it's definitely a time for you to be looking at it as well and see exactly how you can get it through we've used this on loads of our clients and it's so much easier when it becomes more than anything is a bit of a checklist as well if I'm going to be taking any expense or having a look at any cost relating to my business I take a photo of it use my phone I don't need to think about it until next time I need to actually do some bookkeeping well the best thing is is because that deep integration QuickBooks knows what to do if it's already in QuickBooks it'll provide a match if it's in the bank account it will give you the opportunity to match it there as well love love love love the speech yeah definitely something I want to be looking into more I'm hoping QuickBooks gives us more tools for me the best thing they could ever do is give us access to the rule scenario if we could use rules within receipt capture well then we'll opportunity there to automate to the amp degree and that's something that could be really powerful for small business and what do you think do you like receipt capture it's definitely a lot more cost effective than some of the solutions out there because it costs absolutely nothing more it's just part and parcel of your subscription but it does have its limitations from time the fact that you do have to be really mindful you can't automate a hell of a lot out of it at the moment but the fact that it is there it is available within the product without having to any other piece of software which for me is the most important bit about it it's just an absolute godsend I love love receipt capture looking forward to more updates coming and when those updates come we'll be the first to talk about it so make sure that you're subscribed make sure that you've liked the video and all that sort of stuff so you don't miss out on when receipt capture comes but it's not just about me what about you what do you think to receive capture let me know in the comments below love to know how you're finding the seat capture for your business or for your practice and other than rules what big feature do you want to see coming through honestly capture going forward my name has been Anne Patrick as always thank you so much for supporting this channel don't forget to like And subscribe because it really does help this video has been absolute pleasure to do for you and I will see you in the next video bye for now [Music] foreign [Music] 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