Hubdoc stores documents in folders and provides a search facility for those documents, allowing you to audit-proof your business. Using Hubdoc, users can upload their bills and receipts and the data will be extracted and exported to your accounting software to create transactions. The uploaded documents are categorised and searchable. Hubdoc is one of the cheapest applications and can be used with a number of different software packages. Because the company has been acquired by Xero, it is free for Xero users and is very easy to use. Hubdoc has a phone app that allows you to use your phone’s camera to upload documents to Hubdoc.
Greatest fetching tool ever for online file management. Auto fetches bank statements, check images, deposit images, and allows for easy email forwarding of receipts, bills, and all other paperwork that needs to go into your financials and accounting. Use a specific email address or the mobile app to upload documents. Easily files everything for you in alphabetized folders for easy reference later. Sync everything as needed into your accounting software along with the attachment and even export to your other cloud file storage systems. This system allows our clients to easily forward and automates sending us all their bookkeeping paperwork so we can do their books for them in the cloud.
Hubdoc is fine, for extracting information
Notes added by the client attached to bills is also very useful. Hubdoc is one of our most advanced tools to capture bills and receipts, get the data into Xero and easily reconcile the transaction. We’re always looking for ways to automate this process, to help you become more efficient in your business or practice. Hubdoc links to my Xero account (which is connected to my business bank accounts) and then it automatically reconciled into suggested categories. The software integrates with Xero cloud accounting making it easy to get your invoices and receipts entered into your accounting records.
One of the biggest drawbacks is the limited document storage capacity. The software only allows for a certain amount of document storage before additional fees are required. This can be problematic for companies with high document volumes.Another con is the limited customization options.
Can I use Hubdoc for sales invoices?
As a user of Hubdoc software in a company, I can say that it has been a game changer for our document management processes. One of the biggest pros of using Hubdoc is the significant amount of time it has saved us. Prior to using this software, we had to manually collect, organize and upload all of our financial documents, which was a very tedious and time-consuming process. With Hubdoc, all of our documents are automatically fetched and organized in one centralized location, which saves us a lot of time and makes it easier to stay on top of our finances. The accuracy of the data extraction is also noteworthy. Hubdoc uses advanced optical character recognition (OCR) technology to extract the necessary data from documents, which has greatly reduced the need for manual data entry and the potential for errors.
The data that Hubdoc finds is information such as the contact, the date, and the amount. This information can be used to create a transaction in your accounting software. Important information can be extracted and exported to software packages like Xero and Quickbooks Online as transactions, but Hubdoc also saves a copy of the original file. For small to medium size businesses, Hubdoc is useful in reducing the amount of data entry you need to do and to keep track of your receipts and other financial documents. Hubdoc has been acquired by Xero and integrates very well with it as well as other accounting software packages.
Businesses
Thoroughly assessing your needs is paramount to making the right decision. At TEC, we’ve been guiding customers for over 25 years, helping them select software that aligns perfectly with their strategic goals. A worthy contender in the DMS market space, HubDoc can empower your business operations, provided it resonates with your unique demands and preferences. By allowing an efficient management of documents, HubDoc promises benefits like streamlined business processes, improved productivity, and secure data storage. It helps solve the problem of document mismanagement while enhancing team collaboration and quick data retrieval. I love that you can scan or take a picture of a receipt and it will sync with accounting software to create a transaction with the backup attached.
Because Hubdoc is owned by Xero, you can expect to have no problems at all integrating with Xero. In fact, if you already have an account with Xero, clients accounts Best Accounting Software For Small Business 2023 with Xero can be used to open a Hubdoc account. Hubdoc can easily create new transactions in Xero using the data that it extracted from the documents you scan.
Leveraging the power of automation
One negative feature is the inability to tag the bank accounts with the last four digits of the credit/debit card that was used so the Hubdoc can push directly to that bank account. At this time of publication, we have to manually add the bank account to push the expense to – also assuming you have the last four digits of the cards memorized. The ability to drill into an transaction and see the physical source document (in seconds) is an absolute https://adprun.net/best-online-bookkeeping-services-for-small/ game changer! With copies placed in fully customizable folder structures, documents can then be archived and viewed anywhere and across multiple devices via app or browser. Cloud-based storage features bank-level protection boasting industry-standard levels of encryption and verification technology. Financial data from uploaded documents or linked accounts can then be published between leading accounting software such as Xero and Quickbooks.