You might have heard of two different Dext products: Prepare and Commerce. If you’re unsure about the difference between them and how each software can help your business, worry not: this blog will help.
Dext Prepare and Dext Commerce are accounting and bookkeeping automation tools provided by Dext to help accountants, bookkeepers and, of course, business owners. These tools are designed to streamline the financial processes of businesses by automating data extraction, categorisation and reconciliation.
Understanding Dext Prepare
Dext Prepare, formerly known as Receipt Bank, is a powerful expense management and bookkeeping automation tool that enables business owners to save time and improve the efficiency of their financial processes.
By simplifying expense management, Prepare allows users to easily capture and store receipts and business expenses using a range of convenient methods, such as snapping a picture with the Dext Prepare app, submitting documents via email, or dragging and dropping files. Market-leading accuracy in data extraction ensures reliable record-keeping, while seamless integration with popular accounting software like Xero, QuickBooks Online, and Sage provides a unified financial management experience.
Finally, real-time financial overviews empower business owners to make informed decisions quickly. And there’s more: automated categorisation of expenses reduces manual administrative tasks, freeing up time for more strategic activities.
Dext Prepare is an award-winning expense extraction and management tool, used by businesses and accounting professionals worldwide. If you want to know why, here are 10 reasons why businesses choose Dext Prepare.
What about Dext Commerce?
Dext Commerce (formerly Greenback), on the other hand, is tailored to the needs of digital commerce businesses – that includes e-commerce/online sellers and physical stores that take digital payments such as credit cards. Since such businesses can have a very high volume of transactions, it offers a comprehensive solution for managing digital sales accounting.
By accurately extracting sales data from various sources, including retailers, marketplaces, e-commerce platforms, and payment providers, Commerce simplifies the task of organising and formatting transaction information. The platform processes and itemises sales data, separating tax, payment fees, refunds, and reimbursements, resulting in a clean, standardised view of financial transactions. This data can be effortlessly exported to accounting software such as Xero or QuickBooks Online, ensuring seamless integration with existing financial systems.
Dext Commerce also provides real-time sales data breakdowns and tax-ready information, giving e-commerce businesses the insights they need to stay compliant and make informed decisions.
Just like Prepare, Commerce also integrates with popular accounting software, making it easier to keep financial records consistent across different platforms.
In essence, Dext Prepare focuses on streamlining expense management and bookkeeping for businesses of all types, while Dext Commerce specifically caters to digital commerce businesses, offering specialised tools for managing sales transactions and accounting.
Both solutions aim to save time, improve the accuracy of financial records and provide real-time reporting and insights. They help business owners and accountants streamline their financial processes, allowing them to focus on more strategic tasks and decision-making.
Check out Dext Prepare and see why this is a must-have for any business. Start a free trial now!
Do you run a digital commerce business? You can give Dext Commerce a try as well!