For businesses, accounting is very important but it bookkeeping and the involved paperwork could be tedious. The process involves a lot of repetitive and complex tasks. This is where Revolut Business comes to play as it eliminates unnecessary paperwork, automates routine work and saves a lot of time and money that is not the case with traditional banks.
In a recent development, Revolut Business just announced an integration with Clear Books. The innovative global business account that is designed for speed, growth, ease, and security will make it easier for small businesses with its integration with the easy-to-use cloud-based accounting software.
Why this integration?
The integration with Clear Books makes it easy to match Revolut Business transactions with bills and invoices. It joins other helpful product integrations that Revolut Business has made in the past including Slack, FreeAgent, Xero and Zapier.
London-based Clear Books founded by Tim Fouracre provides online accounting software for contractors, small businesses, freelancers, and sole traders. It easily matches sales and purchases as the secure bank feeds of Clear Books are integrated with Revolut Business and will update up to four times a day with the most recent transactions. This way, the accountants will get a complete picture of the business’ finances.
How do customers get benefited?
As a result of this integration, Revolut Business customers in the UK can track if invoices are paid or outstanding, view transaction records, automatically create financial reports and quickly record expenses and bills. And, customers can also set up smart rules for automatic allocation, which will let them match repetitive transactions in a single click.
Furthermore, Revolut Business customers can make sure that the tax reporting is accurate by setting up a bank feed between the Clear Books and Revolut Business accounts. This will let them view critical business-related information such as overdue invoices and outstanding bills. The complete financial data including P&L, Balance Sheet, Aged Debtors and Creditors and HMRC recognised MTD VAT returns are compiled into reports automatically.
Notably, Revolut Business that debuted in 2017 has signed up with more than 400,000 business customers all over the world. It lets companies sign up for multi-currency accounts in just minutes, issue employes with corporate cards for global shipping sans any fee, and transfer money easily and cheaply.
Main image picture credits: Revolut
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