What Is Dext Software?
Dext (formerly known as Receipt Bank) is an add-on for Xero which helps make record-keeping simpler than it ever has been. The introduction of Making Tax Digital for VAT by HMRC has encouraged many clients to move to cloud-based bookkeeping. Linked very closely to the use of Xero, Dext allows you to take photographs of invoices and receipts you receive, before storing them in Xero’s cloud forever. You’ll have permanent access to these documents meaning you’ll no longer be required to keep paper copies of receipts.
How Does Dext Work?
Using your smartphone, you simply take a photo of your receipt or forward copies of invoices into Dext from your email. The software then uses optical character recognition to pull details from your photograph, populating the name of the supplier, the invoice date, invoice amount and VAT breakdown, and much other information. You can even set up rules for suppliers that you regularly use, making the automation process even quicker.
If you’d like some support with Dext accounting software, our team are happy to provide comprehensive training.
How Kirkwood Wilson Uses Dext Accounting Software
Dext is a great tool if internal efficiencies for bookkeeping are your thing. Kirkwood Wilson uses Dext to enable us to keep our fees down where possible. The software significantly speeds up the process of bringing your sales and purchase invoices into your bookkeeping software – in our case, Xero.
Dext is a great tool not only for directors and managers but also for employees. We’re able to give access to the software to your team so that the collection of invoices whilst they’re out on the road is a much smaller task. We encourage our clients to take photos as they pick them up. That way, as soon as the employee has snapped an image of the expense, they’re done!
Who Is Dext Software Suited To?
Dext is perfect for businesses across a wide range of sectors, but we’ve also found it helpful for large companies as well as individuals. We tend to see that sole traders struggle a little more with the internal process of keeping books and records, but with Dext, we can help make record-keeping simple and efficient, easing any of your bookkeeping concerns and creating a much more efficient way of keeping track of your expenses.
Speak to us
At Kirkwood Wilson, we focus on developing and supporting our new and existing talent to provide you and your business with the expertise you require.
Put simply, we won’t just work for you, we’ll work with you. Contact us today on 01704 546000 for a free review of your current accountancy setup and to discuss investing in reliable accountants.