Bookkeeping and Purchase Receipt Management Software:
Review of Receipt Management Apps: Are There Viable Alternatives to Dext?
There is a wealth of tools for bookkeeping and purchase receipt management software available on the market to make managing your books a whole lot easier!Â
Receipt management apps are invaluable tools for digitising the process of recording and managing receipts and purchases. They streamline integration with bookkeeping software, enhancing efficiency and accuracy.
Recently, news broke that accounting software giant IRIS has acquired Dext (formerly known as Receipt Bank). While Dext has long been our go-to platform for bookkeeping solutions, rising costs and minimal software development have prompted us to reevaluate our options.
A Shift in Pricing Strategy for Dext
Historically, accounting partners like ourselves could enjoy unlimited licenses with Dext for a fixed monthly fee. However, this model was replaced with a per-client charge. While partners receive a discount compared to direct client pricing, the cost increase has been significant—something we’ve unfortunately had to pass on to clients.
With the IRIS acquisition, we fear there will be an additional need for them to get return on their investment by hiking prices further and given IRIS software has fallen behind to its competitors as accountants are finding it costly and cumbersome, now might be the time to explore alternatives.
Exploring the Alternatives
- AutoEntry
Owned by Sage, AutoEntry operates on a credit-based pricing system, meaning you pay based on usage. This can be cost-effective depending on your needs. It’s user-friendly and dependable, but its processing times lag behind Dext.
Conclusion: Switching from Dext to AutoEntry wouldn’t offer significant improvements in cost or efficiency though their support team are very efficient in comparison to Dext.
- Apron
Apron stands out for its competitive pricing and ability to handle more complex transactions. Its tracking capabilities in Xero are superior, and it offers unique features like integrated batch payments—a feature Dext lacks.
Conclusion: Apron is an excellent alternative, delivering enhanced functionality at an affordable price. Bonus points for their quirky marketing (they dress up as Ghostbusters at trade shows!).
- Hubdoc
Hubdoc began as a standalone software promising to revolutionise receipt and purchase ledger management, including supplier login integration. However, it fell short of its promises.
In 2018, Xero acquired Hubdoc for $70 million, integrating it into its platform and bundling it with every Xero subscription at no extra cost. While supplier integrations have since been dropped, the tool has become more seamless, and Xero has incrementally improved its features.
Conclusion: For businesses already using Xero, Hubdoc is a no-brainer—it’s a cost-effective and efficient alternative to Dext.
Summary
So, where do we go from here? The right solution depends on your business’s unique needs but there is definitely a solution to streamline your bookkeeping and purchase receipt management. For cost-conscious small businesses, Hubdoc is an attractive option, particularly for Xero users. For those with more complex requirements, Apron offers valuable additional features, including batch payment modules.
At Brisan Accountancy, we’re committed to understanding your business and recommending tailored solutions. If you’re considering switching from Dext, we’re here to guide you through the options and ensure the best fit for your needs.
Let’s navigate the future of receipt management together!
