Dext Software: The Definition, Process And Amazing Benefits:

by | Jan 4, 2024

Maintaining control over finances is essential in the ever-changing field of business management. It can take time for companies to locate effective bookkeeping and accounting services. This is where Dext enters the picture. It is a software program revolutionizing how companies handle their financial data,

Yogi & Associates hopes to educate readers about this revolutionary instrument through our blog. We will explore the benefits of utilizing Dext and guide you on how to get going. Now, let’s get started!

1. What is Dext?

Dext is a state-of-the-art software program. The Receipt Bank is intended to transform completely how entrepreneurs handle their invoices. With the help of this cutting-edge technology, receipts can stored. This software makes all necessary financial documentation accessible on any computer or networked device. It guarantees quick and easy handling of vital company documents.

2. How Does it Work?

The business owner uploads the receipt to Dext after making a purchase. The program extracts essential details from the document using optical character recognition (OCR). There is no need for time-consuming manual data entry anymore. This procedure for extracting data acts as a buffer against human error.

This software is like magic. When you upload receipts, it figures out all the essential things from it, like:

  • Purchase date
  • Supplier details
  • Sales tax paid
  • Purchase amount

3. What is The Process to Use Dext?

There are a few steps to start using it:

  1. Make a sale.
  2. Send Dext a receipt.
  3. Dext extracts all the required data from the reference.
  4. Next, click a button to send this data to your bookkeeping program from the software.
  5. After everything is in software, the paper receipt can be recycled. It has accomplished its goal.

4. How Do You Send A Receipt To Dext?

There is a process to send a bank receipt to the software:

  1. Take a photo of the receipt.
  2. Email the receipt.
  3. Submit the receipt online.

Take A Photo Of The Receipt:

Using your phone’s Receipt Bank app is the easiest way to deal with paper receipts. Use the app to snap a picture of the receipt. You can click the submit button or add any notes or descriptions before sending it.

The receipt enters the processing mode. The software uses optical character recognition (OCR) to read the receipt and extract the necessary information. Simple as that, the data extraction process for your receipt has begun.

Email The Receipt:

You will receive a unique email address that ends in @dext.me when you set up your account. You can send your receipts to this address.  It takes over and begins processing the document for you as soon as you send the email.

When invoices or receipts show up in your email inbox, this technique is applicable. Please send them to your Dext account; there’s no need to print or save them.

Submit The Receipt Online:

The last option is to upload the bank receipt from your phone or computer to this website. Open your account and click the “Add Items” link, a lovely green button. It’s as easy as dragging and dropping files from your PC into the software to start uploading immediately.

5. What Are The Benefits Of Using Dext?

Following are the benefits of using this software:

Maximizing Of the Deductions:

You have access to every record of every single receipt with this software. It helps you deduct all your potential costs to lower your tax liability. It keeps track of everything, so you take advantage of every opportunity to save money on taxes. It’s like ensuring you’re utilizing every chance to reduce your tax obligations.

Get Rid Of Manual Input:

You can use this software to store data for record keeping and cut the need to tie all the receipt information. You’ll avoid headaches and waste time. Optical character recognition enters supplier details, date of purchase, and purchase amount.

Additional Information:

OCR is an intelligent scanner that interprets and reads the text on your receipts. It converts this data into a digital text format that the software can use. By letting OCR take over, you can save time and prevent errors when typing things in by hand. It’s like having a lightning-fast and precise assistant handle every receipt detail.

Record Expenses without Effort:

Managing and filing your expenses is made simple with this software. It simplifies the entire process. It saves time reviewing receipts and determining what belongs where.

By organizing and compiling your expenses into reports, it makes everything simpler. These reports are easy to prepare. They compile all your spending data in one location. This makes it easy to comprehend and send to the appropriate parties.

6. What Is The Cost Of Using Dext?

It charges a fee for users to access its services, as it operates on a subscription basis. Depending on the features and plan chosen, there are price differences. They provide several tiers at different prices depending on variables like the quantity of documents and the degree of help needed.

You can receive monthly or yearly billing for the plan that best meets your needs. Thanks to the pricing flexibility, users can choose a plan that fits their document volume and desired service level.

dext

The Bottom Line:

Dext is differentiating financial management and changing the game for companies across Canada. Its automation features and compliance-focused approach make it the best option for organizing bookkeeping tasks.

We hope you now have a better understanding of this fantastic program. At Yogi & Associates, our team ensures you know all the resources available to help you live a simpler life.

WANT FINANCE TIPS DELIVERED DIRECTLY TO YOUR INBOX?

If yes, sign up to our mailing list below. If not, feel free to browse our blog!

yogi and associates

Get in touch with us today!

Discover the freedom of balance with Yogi & Associates.