The recent launch of DocketBank.com aims to eliminate the worry and angst of tradespeople when they are trying to capture, account and reconcile their expenses in an attempt to avoid ATO scrutiny.

DocketBank founder Mat Phillips says, “Many of my friends who own or work for trade businesses spend a lot of time on the road and were always complaining about losing receipts and wanting to keep on top of job expenses. One such friend was the inspiration behind the early stages of DocketBank. I always envied his overstuffed wallet. That was until I found it was full of receipts and not money.”

This moment of understanding started a process of research and development, all leading to the creation of DocketBank.

“We have extensively researched the needs of tradies and made some exciting discoveries,” Mat says.

“Now we believe we have the perfect product to solve this time consuming and painful issue for trade businesses, especially those with teams on the road”.

DocketBank has many significant features but the key benefits for trade related businesses are the real time storage of receipts and dockets, the shared user access, streamlining the accounting and the reconciling process. During the research phase, DocketBank spoke to many such businesses about what they would like to see and then implemented their needs wherever possible.

One such interviewee, Mrs Carolyn Burton from PCB Plumbing Services, was thrilled that such a tool was being tested.

“With my husband and a team of plumbers out on the road all day DocketBank has been a saviour. It has cut the time I have to spend on our accounts by half, there is no more chasing the guys for their dockets or purchase slips. I know what they have spent, I can then reconcile with suppliers and charge the relevant client the correct amount.

DocketBank is also relevant for businesses that work to tight budgets. They can create folders and accounts for individual jobs and then allocate a
budget for each. Users monitor their spending through the unique “Traffic Light System” – to know when they can “GO” and spend, “SLOW DOWN” on spending or need to “STOP” when they have exceeded the budget agreed with the client. Again, the shared user access means that this monitoring can take place across an entire team, 24/7 – no more overspending without approval.