Receipts

It pays to be prepared

Gibsland Bank & Trust offers Receipts FREE with your business banking account to save you time and money.

Good recordkeeping is essential to the long-term health of your business. Receipts helps you:

• Track cash flow
• Be audit-ready
• Deduct your true business expenses so you don’t over pay on taxes

Introducing Receipts — a helpful, yet delightfully simple tool

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Paper & Electronic Receipt Capture

Digitize paper receipts in a snap. Just take a photo of your paper receipts or forward your email receipts so everything is one place.

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Data Extraction

Say goodbye to manual data entry. Key information is extracted for you, including the expense category for full visibility into expense details.

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Folders, Notes & Tags

Group expenses in custom folders such as ‘Advertising’, or ‘Meals & Entertainment’. Add notes or #tags about the business purpose so it’s easier to recall later.

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Receipt Exports

Download and send your receipts along with key information into .pdf, .csv, or pre-filled Microsoft Excel™ expense reports.

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Return & Warranty Reminders

Be reminded of lapsing return or warranty periods so you never miss your window.

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Search & Filters

Quickly retrieve the receipts you need. Search and filter by item, category, or any other content found on the receipt.

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How it works:

Step 1: Login to the Gibsland Bank Mobile Banking App and select Receipts from the “More” menu.

Step 2: Select Capture Receipts and snap a photo of a paper receipt using your phone’s camera

Step 3: Add notes about the business purpose and/or file it in a folder.

Step 4: Validate the extracted information and hit “Save”.

Step 6: View your receipt from the receipt list where all your digitized receipts will live.

You can also set up an email address to send email receipts to. These email receipts will automatically appear in your receipts list.

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Tips & Best Practices:

• Check to see what tax deductions you are able to claim for your business.
• Always ask for a receipt, and build a habit of capturing them
  It’s a small effort with a big payoff when you have to file your taxes. If you can’t capture your receipt right away, create a ritual to do so at the end of every week. You can even capture receipts over a cup of coffee.
• Save all your receipts, both the proof of payment and itemized versions.
• Add notes about the business purpose on the digital receipt. You may be required to justify the expense to your client or tax agency.
• Use folders to stay extra organized for year-end reporting.
• Don’t rely on credit card statements alone for record keeping.

Each business is unique. Business taxes are complex, and tax laws change. Always do your research and/or consult with a local tax advisor before making any business decisions or submitting business expenses on your tax return.

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DON’T LET THE PAPER PILE UP. START USING RECEIPTS TODAY.