Why we love Dext Prepare for your small business automation
One of the core tools we use with our clients is Dext Prepare. When we start working with small business clients, we implement this amazing receipt capture tool in a number of ways to completely automate the processing of supplier bills, receipts and expenses. The question is…………….why do we choose Dext Prepare?
(1) The benefits in terms of time and money for your business
We’ve been using Dext Prepare for almost 10 years now, since late 2014 / early 2014. Here are some of the main benefits that make Dext Prepare a great option for small business owners:
Save Time: Dext Prepare automates the data entry process, saving you time manually entering and capturing your bills and receipts. It uses OCR (Optical Character Recognition) technology to extract data from receipts, invoices, and other documents, eliminating the need for manual data entry.
Easy to Use: Dext Prepare has a user-friendly interface that is easy to use, working like an “Inbox” for your incoming bills and receipts. With a bit of training and setup, you will be able to navigate the cloud platform with ease.
Mobile App: We love the mobile app from Dext Prepare! The app allows you to capture receipts on the go, making it convenient for busy business owners who are always on the move. You can simply snap a picture of the receipt and let Dext Prepare do the rest.
Integration: Dext Prepare links seamlessly with Xero, our favourite cloud accounting tool for small business. With proper integration, you can easily push your bills and receipts into your “Purchases” in Xero based on your specific needs.
Cost-Effective: Dext Prepare pricing starts at £25 plus VAT per month………….for micro business owners and freelancers, we offer use of Dext Prepare starting at £0 up to £10 based on your usage needs.
(2) The features are second to none
The best thing about Dext Prepare is the ability to automate and autopilot your entire process around capturing, processing and entering your supplier bills and receipts. Here are the key features which enable you to do this in your business.
Email In: Fed up with your inbox being clogged up with supplier bills? Or managing a separate email inbox for “Accounts”? With Dext Prepare, you can get suppliers to send all bills and receipts into the Dext inbox and subsequently into your Xero accounting system. Either provide a new Dext email address to your suppliers or set up forwarding rules in your email account – job done!
Supplier Rules: One of our favourite features is using “Rules” to automate the processing. For each supplier, use a rule to tell Dext Prepare the correct category, tax rate, due date and description for your bills and receipts. Do this on a supplier-by-supplier basis and ensure the rules are set up only for suppliers with consistent data in terms of the analysis code in Xero and the VAT/tax rate.
Auto Publish: Once you are happy with the “Rules” that you’ve set up for suppliers, why not switch on the Auto-Publish feature? This means that Dext Prepare becomes a capture and process platform, pushing receipts and bills into Xero automatically! Once properly configured, this means that data is hitting your accounting software in all the right places by simply sending or snapping receipts – i.e. it hits your accounting reports and your VAT return immediately.
If you really know your way around Dext Prepare (like we do) or you get help from the experts (like us), you can do really cool stuff in terms of your overall business processes, such as:
Build in an Approval Process: You’re keen to use rules and automation features, but how do you ensure things are being checked as you go? Things you can do in Dext Prepare include:
(a) Sending data to Awaiting Approval in Xero so that bills are not paid before being cross-checked (e.g. for prices charged)
(b) Using the “match” feature to cross-match Dext bills to Purchase Orders created within Xero
Send bills and receipts elsewhere in Xero: Certain receipts don’t need to hit your “Purchases” in Xero. Some things are paid as you go, such as things bought on a business credit card. For receipts and bills of a recurring nature paid by card, you can send from Dext Prepare to the bank reconciliation in Xero, saving you a few clicks each time when it comes to reconciling everything within Xero.
Send bills and receipts elsewhere in Xero: Certain receipts don’t need to hit your “Purchases” in Xero. Some things are paid as you go, such as things bought on a business credit card. For receipts and bills of a recurring nature paid by card, you can send from Dext Prepare to the bank reconciliation in Xero, saving you a few clicks each time when it comes to reconciling everything within Xero.
Using payment methods in Dext: The precise nature of Dext’s OCR means that it will recognise the last 4 digits on cards you are using. This means that, with a bit of though and planning, you can tell Dext how to process certain bills and receipts when paid by your card. Sending data to the right place on Xero can save even more time and create much more accurate data in your accounting system.
How can we help?
Satori Accounting focuses on helping small, family businesses regain energy, time and money. We can help implement Dext Prepare alongside Xero is the most efficient fashion suited to your bespoke needs. Implementing tools like Dext isn’t a one size fits all exercise, so make sure you get someone who knows to embed this amazing tool into your business processes in a way that works FOR YOU.