DEXT - Formerly Known as Receipt Bank

Dext: Precision Bookkeeping and Data Automation

As an invoice processing and management system, Dext is hard to beat. Formerly known as Receipt Bank, it has evolved into a comprehensive AI-powered platform that increases efficiency, improves accuracy, and drives productivity.

At SGM (formerly David Howard), we recommend Dext for businesses looking to eliminate manual data entry and move toward a truly paperless, real-time finance function.

What is Dext?

Dext is a leading cloud-based bookkeeping automation platform designed to consolidate and automate accounting workflows. By capturing receipts, invoices, and bank statements digitally, Dext acts as your “digital inbox,” preparing all your financial data for your accounting software. Companies invest in Dext to save on bookkeeping costs, improve data transparency, and free up staff for higher-value tasks.

Key Features and Benefits

• Automatic Data Processing: Dext uses advanced AI and OCR (Optical Character Recognition) to extract supplier names, dates, amounts, and tax information with over 99% accuracy. This removes human error and provides a rapid solution for managing high volumes of paperwork.

   

• Intelligent Supplier Mapping: Dext automatically recognizes recurring suppliers and stores invoices against the correct accounts. This prevents duplicated payments and ensures that by default, expenses are posted to the correct Profit & Loss codes.

• Seamless Xero & QuickBooks Integration: As Xero Platinum Partners, we highly value Dext’s deep integration. When you “publish” an invoice from Dext to Xero, the original image is attached directly to the transaction.

   

  • Visibility: Drill down into any cost code or VAT return in Xero and see the source invoice instantly.

  • Audit-Ready: HMRC accepts digital records; by using Dext and Xero, you eliminate the need for physical filing cabinets.

• Automated Tax Coding: Dext can be configured to apply the correct VAT codes automatically. This double-check ensures you never miss a valuable VAT claim and maintains a high standard of compliance.

   

• Dext Payments (New for 2026): The platform now includes integrated payment solutions, allowing you to manage supplier, expense, and even payroll payments directly within the Dext workflow.

   

Is Dext Right for My Company?

The primary goal of Dext is to reclaim the time spent on manual administration. We generally recommend Dext for businesses that:

• Process 50 or more cost invoices per month.

• Have multiple staff members incurring expenses.

• Face historical issues with data accuracy, missing receipts, or late reporting.

• Want a real-time view of their cash flow and business performance.