sblive Xero Guide

OCR is a computerised method of extracting information from digital files. Simply put, these tools enable you to scan purchase, expense, sales and bank information into your software and removes the need for you to enter this data manually, and rather review what has come through. The two simplest ways to utilise this effectively are: - to provide your suppliers with an email address to copy invoices to. This information then automatically enters your finance system as you receive it, meaning you don’t have to do anything. - to take a picture on your smartphone of any receipts you receive. By utilising these systems a digital copy of the original documentation is maintained and this is a suitable method of data storage for HRMC purposes so you don’t need to store paper records anymore.

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