Monday, November 11, 2024

Introducing One-Click Reconciliation

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One-Click Reconciliation simplify expense reconciliation for accountants and bookkeepers. Previously, receipts were only uploaded to QuickBooks and Xero, requiring manual entry to create expenses, add details, and attach receipts.

Now, with One-Click Reconciliation, you can match receipts to expenses with a single click, saving time and reducing manual work after uploading to Receipt-AI.

How does One-Click Reconciliation work?

1. Upload your Receipt.

2. The receipt is automatically categorized, uploaded to QuickBooks or Xero, and matched to a transaction.

3. Review and click Match in your QuickBooks, or OK in your Xero.

In QuickBooks

Pro tip: To check the expense, simply click “Expense Receipt-AI.com-1417” to view its details. You can use any of the match buttons (Blue or Green) shown in the picture to reconcile your expense.

In Xero

Pro tip: To check the expense, simply click “Expense Receipt-AI.com-1417” to view its details. You can use any of the match buttons (Blue or Green) shown in the picture to reconcile your expense.

How to enable One-Click Reconciliation?

1. Go to Edit Profile, and enable One-Click Reconciliation.

2. Go to Accounts. Select Bank accounts and Expense accounts for your Receipt.

3. You are all set. This setting will apply to all your team members as well.

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Learn more about One-Click Reconciliation:

Where are the receipts in QuickBooks or Xero?

What does the expense look like in QuickBooks?

What does the transaction look like in Xero?

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How does One-Click Reconciliation help a business?

It saves time and reduces data entry. We recommend enabling it if you need to reconcile expenses in your accounting software.

What accounting software are compatible with One-Click Reconciliation?

Currently, Receipt-AI’s One-Click Reconciliation feature is compatible with QuickBooks and Xero.

Can I edit an Expense if a mistake is made?

QuickBooks

Yes, you can edit an expense in QuickBooks. To do so, simply click on the expense (e.g., “Expense Receipt-AI.com-1417”) to view its details, then make the necessary changes.

Xero

Yes, you can edit a "Spend Money" transaction in Xero. Click on the transaction and select Find & Match to view its details, then make any required adjustments.

In Receipt-AI:

To edit a receipt, go to the Receipts section, click on the individual receipt you want to modify, and then click Upload to QuickBooks | Xero.

Can my team also use the One-Click Reconciliation feature?

Yes, your team can use the feature once they've been invited and created their own accounts. However, only the account owner can access and enable the One-Click Reconciliation settings. Once it's enabled, the feature will be available to everyone on the team. How to add a team member

Where can I find my Receipts?

QuickBooks

All your uploaded receipts will be under “Attachments” in your QuickBooks account.

Xero

All your uploaded receipts will be created as files or spend money in your Xero.