what is hubdoc?
HubDoc is a cloud-based platform and the ultimate time-saver, simplifying the often-cumbersome task of document collection and organisation. Think of it as your virtual personal assistant. The perks are endless: automatic fetching of financial documents, intelligent categorisation, and secure storage. Not to mention, it integrates easily with accounting software programs like Xero or Quickbooks. It helps to cut down on administrative tasks, leaving you with more time to focus on growing, rather than managing, your business. Sounds pretty sweet, right?
Who is Hubdoc for?
Whether you’re a small or medium-sized business, a freelancer, a non-profit or a bookkeeper, Hubdoc can help streamline your workflow. Plus, it integrates with Xero, QuickBooks, and Sage, making it incredibly flexible no matter what accounting software you’re using.
Advantages of Using HubDoc
- Accessibility and timesaving: As a cloud-based platform, you can easily access your financial documents no matter where you are. With automatic gathering and sorting of your receipts, bills, and invoices, you’ll have more time to focus on doing other things that matter most.
- Easy organisation and better decision-making: HubDoc offers a centralised location for storing and organising all your financial information. No more sifting through piles of paperwork or hunting for lost receipts. With accurate and timely financial data, you can now make better-informed decisions about your business
- Audit-ready: Tired of your accountant chasing you for paperwork? Streamline the process and make their job easier by being proactive with your documentation. Your accountant will thank you.
- Integration with accounting software: HubDoc integrates with a variety of accounting software, including QuickBooks, Xero, and MYOB AccountRight, which makes it easy to sync your financial data across different systems.
- Increased transparency: HubDoc provides a clear and transparent view of your financial documents, making it easier to understand your expenses and identify areas where you can cut costs or improve efficiency.
Disadvantages of Using HubDoc
- Limited document type support: While HubDoc supports a wide range of document types, including receipts, bills, and invoices. It may not support all the document types that your business requires. This can be a limitation for businesses that require a more diverse range of document types to be processed and stored.
- Limited customisation options: Although HubDoc provides many useful features and integrations, it may not meet all of your specific business needs. The platform has limited customisation options, which can be a limitation for businesses that require more advanced features.
- Limited reporting options: HubDoc provides some basic reporting options, such as expense reports, but the reporting features may be limited for businesses that require more advanced reporting capabilities. This can be a limitation for businesses that need to generate detailed financial reports on a regular basis.
- Data import/export limitations: HubDoc’s data import and export capabilities may be limited compared to other financial software applications. This can make it difficult to transfer data to or from other financial systems or integrate HubDoc with other software applications.
- Inability to extract data on a single file upload with various pages: When you upload a single file with multiple pages of different bills or invoices, HubDoc will only be able to capture the data from the first page of the document.
You can try the platform for free – HubDoc offers a 30-day trial to anyone interested in seeing how it suits their business. Xero’s business edition subscriptions also include a HubDoc organisation that you can access using your Xero login. If you have a different Xero subscription or use other accounting software, once the free trial ends, HubDoc’s will cost $15.00 per month.
Why do I need Hubdoc with Xero?
Quit the document chase and streamline your accounting game with HubDoc and Xero. Say goodbye to tedious data entry and hello to more time for business growth. This powerful combo lets you easily match your transactions against original documents, saving you precious time and reducing errors. The necessary data are extracted in HubDoc with precision and effortlessly sync it to Xero as coded transactions – all while ensuring that your accompanying documents are never lost. These transactions are then matched to your bank feed for easy reconciliation and instant access to all the insights you need to make informed financial decisions.
Overall, HubDoc is the perfect helper for small business owners and accounting professionals looking to streamline their financial tasks. From its automatic document fetching and processing to its integration with various leading accounting software, this tool has a lot of features that can help you manage your finances better. On top of that, its user-friendly interface ensures that anyone can get the hang of it quickly. It’s an indispensable tool for taking control of your funds. Would you like to free up time by automating your financial documents? Give HubDoc a go. Do you think HubDoc can make a big impact on your business? With this tool at your disposal, organising and managing finances will become easier than ever before.