Hubdoc: Your Best Partner to Capture Bill and Receipt | Xero
Document management plays an essential role in business finance. A very effective data capture software for this is Hubdoc. It was founded in 2011 and has streamlined the way people handle receipts, invoices, and bills. Hubdoc makes it easy to automate data capture and to organize financial documents. It integrates well with accounting systems such as Xero. In such a case, the business can focus on strategic activities but still set proper records. Now, let us find out how Hubdoc revolutionizes your financial management! It can save a lot of time and reduce manual data entry errors.
What is Hubdoc?
Hubdoc is a web-based, intuitive online platform for effective financial document handling. Hubdoc was founded in 2011 and is now serving millions of customers all over the world. It automatically pulls all the essential information out of receipts, invoices, and bills. This reduces the tedium of having to manually input all the information from these source documents attached, allowing more crucial business activities.
The platform then organizes documents for easy access and hubdoc from within Xero, all documents online in one centralised. It will enable the user to create professional invoices and maintain organized financial records within the financial reporting system. It is a valuable and best partner in achieving efficiency and organization in financial management.
3 Must Have Features of Hubdoc For Your Business
1. Snap a photo and send paperwork
Hubdoc simplifies paperwork management with its photo grasp feature. Users can take photos of receipts and invoices using the mobile app or desktop. After scanning the photo, Hubdoc automatically shares and uploads all the bills and receipts into Xero and your Hubdoc account. This ensures that you can track expenses easily. Also, users can email the paperwork directly to Hubdoc organisation’s distinctive email address. This feature is especially beneficial for busy professionals who want to streamline expense tracking on the go.
2. Integrated with other platforms
Hubdoc integrates seamlessly with popular financial reporting systems, such as Xero and QuickBooks Online. This integration allows for smooth data transfer and reduces key data work. Key information from your documents is automatically extracted and synced. By connecting with these platforms, Hubdoc simplifies bookkeeping. It helps keep everything organized, making it easier to maintain accurate financial records and generate reports.
3. Auto-filing & sorting
One of the most impressive features of Hubdoc is its auto-filing and sorting capability. The platform extracts key data from receipts and bills. It stores this information such as invoice number in an organized manner. This feature eliminates the need for physical filing cabinets. Users can access documents directly from Hubdoc. With Hubdoc, users can boost their productivity by spending less time because all files are searchable.
How does Hubdoc work with Xero?
1. Automated Syncing
Hubdoc can automatically sync data with Xero. When Hubdoc processes document capture, it sends the extracted information directly to Xero. This information is organized as accurately coded transactions. This feature supports efficient bank reconciliation. You can match transactions with your bank statement with just one click.
2. Document Storage and Organization
It securely stores all your documents online in one centralised place. From any location, users can retrieve and look up real-time bills and receipts with the Hubdoc mobile app from app store or google play store. It is easy to get bills and receipts. Documents are easily arranged through tags and folders on the website. Users can even send files to other cloud storage services such as Dropbox. This saves the need for keeping paper documents; thus, the record-keeping becomes more straightforward.
3. User Collaboration
Users can add accountants, bookkeepers or teammates to their Hubdoc organization by sending email invites. They have control over their access levels such as letting the accountant access your account. This helps in collaboration and ensures that the information is available to the team members. This helps businesses to increase bookkeeping efficiency while reducing paperwork and less data entry.
How to streamline bookkeeping using Xero? Here is the solution: Unlocking E-Commerce Growth with Xero: Streamlining Accounting for Success.
Pricing Information of Hubdoc
Hubdoc provides its cloud services for free if you are a subscriber to a Xero organisation.
Frequency Ask Question (FAQ)
1. What is the difference between Xero and Hubdoc?
Xero and Hubdoc each have their different niches in financial management. While Xero is an accounting software, it helps with effective finance management. It therefore features bookkeeping, invoicing, and financial reporting functions. However, Hubdoc is a powerful tool that has specialized in document capture which extracts data automatically and stores documents online.
Geographically, Xero has a more solid customer base in the United Kingdom, Australia, and the United States, while Hubdoc is noted mainly for its presence within the United States.
In general, companies aiming to facilitate their work in record keeping might prefer Xero because of the comprehensive financial reporting tasks it performs. They might be able to utilize Hubdoc in efficiently capturing and managing documents.
2. Is Hubdoc free with Xero?
Hubdoc is free with Xero’s Starter, Standard, and Premium plans. If you’re on one of these plans and connect Hubdoc to your Xero organization, you’ll see the service on your Xero invoice. If you are a small business client of Xero Cashbook or Xero Ledger, you will be required to pay the retail price for Hubdoc. Also, all Xero partners have access to a free Hubdoc account for their practice.
If you don’t want to waste time on setting up Hubdoc from within Xero to your business, Caltrix Asia is the best solution and leading Xero partner for you.
3. Is Hubdoc the same with Dext?
Hubdoc and Dext are not the same, though they perform a similar function with helping a business manage and digitize paperwork. They can import bills, invoices, and receipts. Additionally, both integrate with Xero.
Hubdoc focuses on data record, organization, and storage. It features a simple folder structure and an auto-fetch function for supplier statements. This makes Hubdoc suitable for businesses with a lower volume of transactions and store all documents into Hubdoc.
On the other hand, Dext excels in data extraction and automation. An example could be that it is more advanced at Smart Split in that it separates transaction labels before exporting into your accounting system. It can be more useful for companies that deal with many transactions monthly.
On pricing, Hubdoc usually comes free with some Xero plans. Dext does tiered pricing, though. Its pricing is according to the number of users or volume of documents.
In summary, both Hubdoc and Dext are used in processing financial documents, but they fit different business needs and have different features.
Conclusion
Hubdoc will help improve productivity, accuracy and supercharge your practice through automated data capture, integrated with systems such as Xero. This way, there is no more manual entry, and no paper storage is required. Some of the key features of Hubdoc include photo record, auto-filing, and user collaboration, which make it indispensable for small business owners and busy professionals.
Let us try Hubdoc today for a better way to manage your financial documents! Additionally, Xero plans offer free access to Hubdoc, adding extra value. Why not choose an easy-to-use accounting software, Xero and feel organized and efficient with your business finances from today?
About Xero
Xero is a global small business platform with 4.2 million subscribers. Xero’s smart tools help small businesses and their advisors to manage core accounting functions like tax and bank reconciliation, and complete other important small business tasks like payroll and payments. Xero’s extensive ecosystem of connected apps and connections to banks and other financial institutions provide a range of solutions from within Xero’s open platform to help small businesses run their business and manage their finances more efficiently.
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