TaxAssist Accountants has announced a strategic partnership with Receipt Bank, the award-winning bookkeeping automation platform.

The software and services provided by Receipt Bank will ensure that TaxAssist franchisees and their clients are prepared for the latest advances in technology and legislative developments.

The partnership comes as TaxAssist Accountants seeks to equip its franchisees with best-in-class software to ensure their services remain valuable, profitable and scalable.

Receipt Bank offers a quick and easy way for clients to send their transaction data directly to their accountant’s operating system, via app or email, with no paper and no data entry required.

Alex Smith, from TaxAssist Accountants Plymouth, describes the effect Receipt Bank has had on his business: “The service we offer enables clients to submit expenses using the phone app and/or email-in.

“With this high use of automation, I envisage my team being able to serve a much higher number of bookkeeping clients than our previous approach permitted, and without additional software costs, this means additional work at a high margin.

“In six weeks, we have rolled ‘Real Time Bookkeeping’ out to around 10 clients who were not previously buying bookkeeping from us. Clients also value this service more than much of our routine compliance for them, presumably as it’s a way of taking away what has been a pain point for them.”

This partnership will allow other TaxAssist franchisees to focus more on their clients’ business needs, instead of manual processing, explains Group Operations Director Sarah Robertson.

“Our members are embracing new technologies at all levels in order to pass on the benefits of their experience and expertise to their clients,” she explained.

“As practices prepare for the arrival of Making Tax Digital, tools like Receipt Bank will be essential for implementing digital processes and improving efficiency.”

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.”