Dext Prepare Reviews

Pros

The AI behind this software is smart and adaptive. The OCR recognition can identify the debit/credit card used on a submitted receipt and match that receipt payment to the specific bank account in your accounting software so you can avoid sending payments to the wrong account. For accounting firms, the bundled pricing is a great value to share with your clients. It does not just push the data to your accounting software, but will search your transactions in the software to try to find matches and will sync up the payments with ease.

Cons

While they are doing good with the fetch option for online invoices (they can pull the statements and invoices from online billers, such as cell phone or internet), they do not have the capability, currently, to pull bank statements. Add this feature and we have an unmatched solution to this expense capture sector in my opinion.

Pros

Very easy to use. The interface is clear and user-friendly.

The lack of mandatory expense reports is a big plus in my view. When we used Expensify we had various issues dealing with expense reports. They aren't really necessary for our process, so eliminating them saves time. Also, now an issue with one transaction won't hold up the rest of the report.

The OCR is very accurate compared to our previous software (Expensify and Veryfi), and did seem to learn how to read different vendors' invoices when I had to make some corrections (e.g. pulling invoice date instead of order date).

Customer support was responsive and had a great attitude.

Pricing is transparent and inexpensive compared to some competitors.

Works well for both employee expenses and general accounts payable.

Cons

OCR processing time is slower than we would like. Items can be processed manually when needed, however.

Multiple approval flows would help manage expenses by department.

Doesn't integrate correctly with our bank. This seems to be an issue with our bank and the third-party integration software, but still.

Alternatives Considered

BILL, Emburse Certify Expense, Melio, Rydoo and Veryfi Receipts OCR & Expenses

Reasons for Choosing Dext Prepare

Expensify sent out an unsolicited political email to all users, which we found unacceptable. Fortunately, this led us to find an alternative with better pricing and ease of use. We were also able to consolidate our employee expenses and general invoice entry in one software.

Switched From

Expensify

Reasons for Switching to Dext Prepare

Pricing was transparent and inexpensive. We were able to easily sign up for a trial to confirm Receipt Bank met our needs.

Pros

Photo recognition is very accurate and customer service is helpful and existant.

Cons

Where do i start. The system is very clunky, looks great from the outside but there are better solutions out there especially for the price. Upload a reciept and approve it. Then wait 24 hours for it to enter your accounting software. Nightmare when your trying to reconcile.

Doesnt link with QB Projects so have to go into each reciept in QB and add project. This defeats the whole purpose of the app. Oh and you have to wait for it to push to QB.

Alternatives Considered

Expensify

Reasons for Switching to Dext Prepare

Promise of ease of use.

Pros

This will be an incredible asset for us to keep on top of our bookkeeping. It’s very easy to use and review the bills that we input. I feel like this will make us very organized and ease the life of our bookkeeper and accountant as a result.

Cons

No issues to really speak of so far. I guess our one issue is that Dext uses an authentication service to link our bank account but it doesn’t seem to work for our specific bank (BMO).

Alternatives Considered

Xero

Pros

Online and Mobile App are very easy to navigate and use. The training resources that are included are excellent. Dext saves my business a lot of time by setting up automatic rules for suppliers, bank accounts, etc. to directly integrate into our accounting system.

Cons

I don't have any negative comments for Dext Prepare.

Pros

I love Dext and have used it for 7 plus years. It allows me and my clients to track all their expenses easily and worry free.

Cons

The cost is expensive as I dont have a lot of clients but I will pay because I like it so much

Alternatives Considered

Quickbooks Online

Reasons for Switching to Dext Prepare

Much more functional and way better at coding appropriately.

Pros

Company's finances has been completely transformed by Dext Prepare. I don't have to spend countless hours manually entering data to keep track of my finances because of its powerful automation and real-time monitoring features. Because the software's text recognition algorithm is so precise, it was simple for me to extract all of the essential information from my bank statements, invoices, and receipts.Dext Prepare's ability to integrate with my existing accounting ecosystem, which enables me to transfer data with a few easy clicks, is yet another great feature. The software's user interface is also very easy to understand and use, making it accessible to anyone, even to people who don't know much about technology.In general, managing finances with Dext Prepare has saved me a significant amount of time and effort. It is essential for any proprietor of a business who wishes to streamline their accounting procedures and concentrate on expanding their enterprise. Anyone looking for a pre-accounting solution that is both effective and user-friendly should look no further than Dext Prepare.

Cons

Dext Prepare is a great way to automate and streamline the pre-accounting process, but i say it lacks some features that other accounting software solutions have. Nevertheless, it is essential to keep in mind that Dext Prepare was developed solely for the purpose of pre-accounting and is not intended to take the place of a full-featured accounting system.The cost of Dext Prepare, which may be prohibitive for individuals or small businesses depending on their requirements and financial resources, is another potential drawback. However, the time-saving advantages of the software may eventually offset the cost for some businesses.In conclusion, despite the fact that Dext Prepare may not have all of the features of other accounting software solutions and may be pricey for some users, the pre-accounting automation and time savings it provides are still significant. As a whole, it's a wise investment for businesses that want to make their accounting procedures more efficient.

Pros

Dext Prepare is easy to setup and use whether you're a small business or an accountant looking to help your clients keep up with all those paper receipts and emails for sales and costs. They also have expense report features

Cons

Dext Prepare is somewhat on the expensive side for the subscription prices they charge.

Pros

What I liked most about this software was it was able to import receipts

Cons

What I liked least about this software were the customer service and the price.

Pros

The accuracy really is superb! It is amazingly how accurately it gets the information required from what is often messy, crumpled or poor quality receipts

Cons

The main criticism is that I need a totally separate account per business. Would be better to handle multiples from one login. Also seems bonkers to have to pay extra for more users, has no bearing on the required server time or functionality's...eg zero benefits to just sharing a login .so to charge for it seems wrong. Lastly, the GUI could be modernized slightly

Pros

Receipt Bank is easy to track bills and receipts and useful to publish into accounting software. Also, Receipt Bank could assign different roles among users, which saves time for review and approval of reimbursable expenses. Last but not least, it keeps adding features like bank statement fetch, which creates efficiency for bank reconciliation.

Cons

If bills or receipts are denominated in foreign currency, the exchange rate used by Receipt Bank is different from that by Accounting Software. To have a consistent rate across the book, we have to manually refresh the bill date to have a consistent exchange rate.

Pros

Receipt Bank promised a lot and delivered extremely poor service. It simply did not do what it said it would do.

Cons

It combines multiple receipts into one entry, entirely in error.
It fails to recognise the currency of the receipt.
It mis-reads the receipts - inputting incorrect numbers and names.
It corrupts easily, locking a lot of entries inside the app but unable to generate a spreadsheet. There is no way to extract the data from the corrupted app, so you have no choice but to enter all the data again or create your own spreadsheet and enter it there.

In all Receipt Bank was a complete waste of money and an enormous waste of my time.
I strongly recommend anyone against buying Receipt Bank. It is easier to create an excel document of your own which you can run on your phone. If you want to you can add in drop-down menus to make data entry quick and easy. That is much easier than trying to mess around with the grossly faulty Receipt Bank app.

Pros

I use this daily. Ease of use is key here to minimise any further hassle from bookkeeping. RB is super easy to use, very quick to upload documents via the app or the desktop.

Cons

Possibly the rate of machine learning. I have used RB for the same customers sales invoices for over two years now, and the same mistakes are frequently made by RB's extraction. These are daily mistakes, possibly every other day. Customer Name is a very common one.

Pros

NONE - Receipt Bank allowed fraudulent fishing invoices to be included as verified invoices on my account.

Cons

ReceiptBank allowed fraudulent invoices to be sent to my inbox and refused to acknowledge this as a security breach. There solution was for our company to change our e-mails.
The source of the invoice which appeared in my payment list was a fishing scam. ReceiptBank refused to make any security improvements on the platform. Avoid this platform at all costs as it is not secure and the company don't care.

Pros

Dext is a great software to eliminate the need for keystrokes to enter data into accounting software.

Cons

The system can often be a bit temperamental and extract the incorrect information from the source document.

Pros

The company is really responsive to improving the product. Simplifies the Accounts Payable Process and saves a lot of time.

Cons

sometimes AI picks up the wrong supplier and you need to be alert to this especially for autopublish suppliers.

Pros

the software is very capable at image recognition and determining exactly what was charged. It also does a good job of archiving said expenses.

Cons

I think there could be more done to notify the user of the expenses once they have been succesfully processed. I also think that it could do a better job when it comes to determining exchange rates for expenses. It would be great if they could find a way of linking the exchange rate used to the card that is paying, rather than guessing or using a value from another source.

Pros

Expense reports allow for multiple line items and attachments to each saving time with reconciliation
Approval tier for expense reports for compliance
Matching invoices/receipts to Quickbooks softare when transaction located makes it easy

Cons

Does not download statements, e-transfer details, or cheque images from financial institution like Hubdocs

Pros

This software has made organizing my receipts very painless and efficient. I like the fact that a copy of my receipt is kept in this database and another copy in my accounting software when receipts are pushed over.

Cons

I find that sometimes when I send invoices directly from my email into receipt bank, not all the invoices are recorded or even appear. My accountant has to notify me to resend them to her personal email when she reconciles our books monthly.

Pros

It works! The OCR was very good at reading receipts and storing data in the right ledger code. Saved me lots of time

Cons

Tricky to set up, costly. Now there are other products with same functionality but cheaper

Pros

Receipt Bank is really a time saver software in term of keeping records of your expenses receipt. Moreover, its integration with accounting software like Xero is very useful.

Cons

Negative points on Receipt Bank is the Invoice "Fetch" functionality that is a very good idea but never worked properly since I am using the software. This functionality is creating more problem by creating duplicates than actually saving time.

Pros

Ease of use and I'm able to manage from my mobile device on the go.

Cons

I don't believe it accommodates classes in case you have difference locations you're tracking in GL.

Pros

My accountant set this up and intergrates directly with Xero my accountancy software that they help me to use and manage.

Easy way to capture receipts when out and about by taking a photo and using the mobile app to submit it or alternatively for email receipts and invoices I can forward it to a special email address to do the same.

Cons

The invoice fetch feature by automatically logging into certain services, shops etc to get invoices and add them as expenses for you is very hit and miss, especially when some of the sites or services I use 2FA auth codes and it never really works with them.

Asking support for advice they are never really able to help solve this problem for me.

Pros

sync with my software, wholesale pricing. Great system to be organized and save all receipts to maximize deductions.

Cons

hard to contact customer service, when I have questions is hard to get in touch with them because they are located outside of the US.

Pros

Great price
Very easy to use
Customer Service is very responsive and knowledgable
Easy interface
Great mobile App
Reduces errors

Cons

Waiting for receipt bank to read invoices, it is very fast but would be even better if faster like everything :)