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

I recommend to my accounting clients as a quick way to get their expenses recorded. Take a picture of the receipt with your phone and auto publish straight into Quickbooks. Game changer for small businesses that still use the shoe box method! It is a very easy integration with Quickbooks online! Very cost efficient for small businesses.

Cons

May not be the best choice for larger businesses with multi level approval of expense reports. I have not signed up a larger client so it may be fine, but I do not think it has this feature.

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

I have been using Receipt bank from last 2+ years, its a great tool to save time & a lot of data entry. My client are also happy to save time & cost due to using Receipt Bank.

Cons

In some case its mixes currency sign and user need to review receipt and verify currency to avoid later issues.

Pros

This software has a mobile app which is incredibly useful as you can just take pictures of the receipt while you're out and about so don't have to worry about keeping them safe. the app itself is simple to use, though could be fine-tuned. The accountants at receipt-bank are switched on and will follow-up with any outstanding or incomplete expenses, and answer any question you may have about the status of a particular expense very quickly.

Cons

In the app there are some unnecessary fields that you don't have to fill in, but they are named the same as one which you do, which was confusing at first, but now I am used to it. Also the accountants ask how you paid e.g. personal card / cash, or a company card etc, but there is no option for this so you have to remember to write it in the notes section, which is not an issues, but something to bear in mind to avoid hassle further down the line.
It is also worth noting that the expenses take a while to verify, so submit then and maybe check on it in a day or so rather than expecting it to accept it then and there.

Pros

This software is so helpful in clearing all the receipts/invoices/statements from my desk. I either photograph with my phone or attach from email and then I can shred or delete. I've gone from spending hours filing to minutes uploading. Awesome program!!

Cons

Sometimes it takes awhile for the invoices to be processed but I don't find that a big concern as I have plenty of other work to get on with.

Pros

the day to day logging of receipts and invoices is great

Cons

the support or lack of support more like it, is horrendous! communication is terrible.

Pros

It saves time by finding most of the information it needs and then lets you review it. Allows for people to submit receipt online, which is great for a business where most employees are spread out across Canada.

Cons

Some things are confusing when submitting receipts by email. For example, if you send an email without an attachment, then the email itself becomes the receipt, but when it has an attachment, the information someone might have written in the email itself does not show up anywhere, since only the attachment will show up as a receipt. This makes for some confusion for our users.

Pros

This is a must have application as it just cuts down so much admin. Supplier rules and giving employees their own logins to do expense reports makes it so easy to implement and get running.

Cons

System has some things missing such as multiple accounts with the same email. There is also the issue of no multilevel authorisation processes.

Pros

The ease of use, I can explain to clients how to use it easily.

Cons

It was posting to Xero with incorrect tax rates at one point, now sorted.