Hubdoc: Data Capture Software

At the lowest per-month fee, there’s a big difference between Xero vs QuickBooks Online. Xero’s Early plan is $9 per month, while QuickBooks Online’s Simple Start plan costs $20 per month. The former severely limits users’ access to the accounting software.

You can check the receipts you have against the bank feed for errors. Configure your app settings to state how your financial data should be downloaded and stored. Join one of the instructional webinars happening throughout April and May. You’ll see how to use Receipt Bank and MYOB Essentials to build a truly connected practice.

by Hubdoc

We capture the data automatically, ready for you to push straight through to Essentials. As for maintaining the client’s interest, it’s all about training.

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. Vendor Rules allow how Hubdoc codes docs and data to be changed, ensuring seamless integration within existing systems and user groups. Hubdoc is an online cloud-based service and mobile app for digitizing financial documentation.

Hubdoc makes it easy to capture bills and receipts by email, mobile or scanner so they’re all stored online, in one place. The customisable Xero dashboard displays a snapshot of your organisation’s financials and transactions, helping you stay on top of cash flow and track business performance. Thanks for the article, I also just realized that Xero cannot allow you to create multiple control accounts for vendors and receivable which is easily done by QBs. Most times you need to track your receivables by foreign, intercompany or third parties but it seems not designed for that. Because you can import an existing spreadsheet, Xero’s fixed assets functionality saves you time setting them up.

Hubdoc reviews

A world where accountants and bookkeepers don’t have to chase clients for financial documents at the end of the month, quarter, or year. A world where bank statements, bills, and receipts are in one place, automatically. Sync your bills, receipts and invoices and their data to your accounting software. Create rules to automate how your docs are published and coded.

You can truely remain 100% paperless and never have to print unless you need to tick and tie or highlight. Saves hours of time, by not having to log into a bank and download PDFs one month at a time. The first time Hubdoc is connected with a bank, it will auto-fetch all available historical documents allowed by the particular bank. In some cases, it will fetch 36 months of historical documents. Going forward, it will auto-fetch documents as they become available.

Hubdoc reviews

Xero doesn’t have a place on its standard invoices to add terms, either. If your business frequently offers terms, that could be a deal breaker and you may want to check out our FreshBooks review, instead. If you’ve read our individual Xero review and QuickBooks Online review, you know that they’re strong contenders and both made our list of the best accounting software programs. Xero and QuickBooks Online perform many of the same functions, including invoicing, paying bills and bank reconciliations, so the difference may be how easy they make these tasks. This is a perfect example of a freebie costing you more than you would spend on a paid solution.

Connect to an Accounting Software or import your Chart of Accounts to effortlessly code your transactions according to your existing financial records. AutoEntry works by capturing and analyzing details from paper documents, before posting this information into a user’s Xero account.

This work also moves quickly, but the summary screen truly streamlines the work. Create a strong password and don’t share it with other users. Multiple users can access a single RB subscription, meaning if you have staff, each can put the app on their phone and submit receipts to one parent account.

  • This is highly frustrating because in the end you are better to not use the software.
  • Start off by using Hubdoc to store all your client’s documents.
  • Most times you need to track your receivables by foreign, intercompany or third parties but it seems not designed for that.
  • Both Xero and QuickBooks Online will send automatic payment reminders on past-due invoices.
  • This enables you to spend your time and energy on other important areas of your business.
  • This option will only be available if tax codes have been set up and enabled in the Quickbooks Online file.

Our team are here to help you find a software that saves you time and suits your business and personal needs. This enables you to spend your time and energy on other important areas of your business. Hubdoc only syncs with a limited number of supplier trade accounts – If you work with a smaller supplier, a direct link may not exist yet. Hubdoc is a great integration that you can sync in with your Accounting software. Later in this article, we have provided a basic guide highlighting key accounting Software for small businesses and the pros and cons of each.

Hubdoc will categorize an expense to push the charge as a bill/invoice or directly to a bank account into the accounting software. 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. Hubdoc is a great all-in-one expense tracking/ document collecting software solution.

In addition to the core financial statements, basic accounts receivable and accounts payable aging reports track who owes you and what you owe by common past due buckets. QuickBooks Online delves deeper into accounts receivable than Xero.

It is great for retrieving bills from vendors, particularly monthly bills like telephone/internet, FedEx, etc. Many small vendors are not available when using this service. We also hubdoc help use it for our outsourced accounting clients to retrieve bills from vendors and import them into We love the auto-fetching of bank statements and some vendor bills.

Entreflow Consulting Group’s use of Hubdoc

Growing – The Growing plan costs $30 per month and includes unlimited invoice and quote sending, bills and bank transactions. Hubdoc automatically extracts the key information from each bill or receipt so it’s ready to copy into Xero with the original document attached. Hubdoc makes it easy to capture bills and receipts by email, mobile, desktop or scanner so they’re all stored online, in one place.

On the surface, QuickBooks Online and Xero follow that model. Dig deeper, though, and you’ll see that Xero restricts transactions at its lowest level, while QuickBooks Online adds access to software features and users as your business grows.

It’s great for collaborating with bookkeepers, accountants and colleagues. Rules to automate how receipts, bills and statements are coded. Simply take a photo of your receipt, invoice or bill with our mobile app and throw out the paper copy. Hubdoc scans, extracts and stores your documents, ready to be published. The half-tax rule for meals and entertainment simply does NOT work.

In addition to fetching the bank statements, it also fetches front and back images of checks written and deposits made (with most banks). Once we get a client set up with Hubdoc’s auto-fetching, we don’t have to pester our client for access to their bank account or to ask for bank statements or checkbook registers.

Hubdoc reviews

Hubdoc uses OCR (Optical Character Recognition) technology to analyze your receipts (and other scanned documents) for useable data. Start off by using Hubdoc to store all your client’s documents. Not only will Hubdoc serve as a cloud filing cabinet, but it will extract key details from documents and create bills in with the source document attached.

I use the app for iPhone and it works great; my husband uses the app for Android, which he also likes. Xero offers an optional full-service payroll solution via its partnership with Gusto. Users are able to run unlimited payroll via an intuitive interface. Payroll data syncs with Xero for faster reconciliation, so users won’t need to manually re-enter data.