Artificial Intelligence (AI) Powered Receipt Analysis
By using Artificial Intelligence (AI), QuickFile can automatically scan your receipts and invoices to extract key accounting information - such as supplier name, date, net, VAT and gross amounts. Based on this data and your previous tagging patterns, the system will pre-populate the receipt tagging form, helping to reduce manual entry and improve accuracy.
This feature works for both invoices and till receipts, enabling faster processing and more complete accounting records.
How does it work?
When a receipt or invoice is uploaded or imported to your Receipt Hub the AI immediately gets to work extracting the text and determining the following key information from the receipt.
- Transaction date
- Supplier name
- Supplier address and VAT number (where applicable)
- Summary or items or services purchased
- NET amount
- VAT amount (where applicable)
- Gross amount
- Invoice number (where applicable)
The AI then checks whether the supplier and amount match any open purchase invoices. If not, it looks at how receipts from this supplier were tagged previously and will pre-populate the form based on this historical behaviour.
If the supplier cannot be identified, you can select the correct one manually and the system will learn for future uploads.
For VAT registered accounts, the AI first checks for an itemised VAT breakdown. If none is detected, VAT may be inferred at the standard rate, this will be clearly marked as Estimated.
What are the charges for using AI receipt analysis?
The fees for AI based receipt analysis are as follows:
4p /scan - With Power User Subscription
10p /scan - Without subsription
Charges are taken from your QuickFile credit balance on a pay-as-you-go basis. You will never go overdrawn, processing simply pauses if your balance reaches zero.
How do I enable or disable AI receipt analysis?
You can enable or disable AI receipt analysis from the “Advanced Settings” area in your account:
Account Settings > Advanced Settings > Optional Features
How long does it take to analyse a receipt?
Receipt analysis runs automatically in the background and typically completes within 2–3 minutes, although processing times may vary depending on system load. In the Receipt Hub list, you can track the status of each receipt while it is being analysed and before it has been tagged.
Limitations
As with all Artificial Intelligence tools, there are limitations that may affect speed and reliability. To maximise the effectiveness of this tool please take note of the following points:
- Try to take clear, high quality pictures or scans of your receipts and invoices. This will increase the likelihood that the AI can read and interpret the data.
- Receipt analysis requires a positive credit balance on your account, we’ll let you know when you’re running low.
- Receipts or invoices with more than 5 pages are ignored at this point in time, this is due to the increased token usage and time required to read all the data.
Feedback
AI Receipt Analysis is a beta feature, any feedback or suggestions will be well received.