Press Release: April 24, 2015, London –
Receipt Bank, the award-winning bookkeeping tool, today launches Practice Platform to offer firms unrivalled real-time, multi-channel access to key accounting and bookkeeping metrics.
Receipt Bank’s new tool, Practice Platform, is available via a web browser, iOS and Android apps, and from today, via the first ever Apple Watch bookkeeping app.
Practice Platform is a bookkeeping dashboard that reports on a number of KPIs that enable practice owners to increase efficiency. For the first time ever, professionals can:
- Quantify the outstanding bookkeeping workload: an estimate of the amount of bookkeeping time outstanding per client, practice or team member.
- Prioritize bookkeeping tasks by urgency so teams can work on clients whose deadlines are approaching.
- Identify which clients are submitting data and are up to date; understand how long clients are sitting on receipts and invoices before submitting them; detect transactions that do not have supporting documentation; and highlight the number of items submitted after an accounting period has closed. Track how well the firm is taking advantage of Receipt Bank.
Michael Wood, Receipt Bank’s co-founder comments: “I am delighted to launch this new initiative making data portability a reality in the accounting industry through the first Apple Watch bookkeeping app.
“Access to metrics on Practice Platform through wearables will enable professionals to run their most efficient practice, on-the-go and in real time. With the Practice Platform bookkeeping dashboard, firms can dramatically reduce the internal cost of bookkeeping; estimate and bill correctly, and help clients improve their processes, achieve compliance and increase accuracy of their accounts.
“Receipt Bank is used by more than 2,300 accounting and bookkeeping firms and it was their feedback that inspired us to develop Practice Platform. Firms are calling for ways to increase productivity and our bookkeeping dashboard is just the first of a number of solutions to be released under the Practice Platform brand to meet industry demand and help bring modern practices into the future .”
Practice Platform will be available to the UK’s leading bookkeeping and accounting firms via a bespoke Apple Watch app, iPhone and Android apps, and online via PCs and tablet devices.
For further information, interview opportunities or a demonstration of Practice Platform please contact