For the 600,000 self-employed individuals across Ireland, properly recording expenses is a critical step in reducing their tax bills. However lost receipts can often make this impossible with huge tax implications.
To assist their clients with this headache, TaxAssist Accountants have entered into an exclusive partnership deal with data extraction and automation company Receipt Bank. The deal will see Receipt Bank rolled out this summer to all of TaxAssist 6,000 clients via the TaxAssist mobile app. The software allows clients to take a picture of receipts and send them directly, via the app to their accountant. A log of all receipts is kept within the software eliminating the need to hold on to old shoe boxes of receipts.
For TaxAssist’s network of 20 Accountants the deal is part of a wider strategy of embracing new technologies. Each office will receive preferential rates and extensive training with Receipt Bank to ensure they can get their clients on board fast. Alison McGinley, Managing Director of TaxAssist Accountants states: “We are investing in technology like this to stay ahead of the curve. Our clients are busy and more and more they use their phones to manage every aspect of their lives. As well as this, the partnership will enable us to roll out massive time savings by reducing manual processes in our offices".
Receipt Bank CEO Alexis Prenn, added: “The role of an accountant in a business has never been more important, helping them understand new technology and processes. We’re excited to combine our best-in-class technology with TaxAssist Accountants expertise.”