Software Second Look: Hubdoc

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What’s the most time-consuming thing that clutters up your desk and brings your workflow to a halt? Well for me, it’s the accumulation of receipts, invoices, and bills that I get every month and push to the side until they simply can’t wait any longer. If you are like me… always behind in handling this mess, then you need a solution.

Guess what, Hubdoc can do the work for you because it extracts key information from your receipts, invoices, and bills, and then syncs that data with your preferred accounting solution. You might use Xero or QuickBooks Online, or you might even want to go straight to Bill.com for bill payments, it doesn’t matter because Hubdoc works with all of them.

And Hubdoc can ‘gather’ your information in essentially any format there is. You can:

  • Snap a photo of your receipt, invoice, or bill with the Hubdoc App on your mobile device and let it extract and store your documents, ready to be published.
  • Email your receipts, invoices, and bills to a personalized Hubdoc email and let them do all the work.
  • Simply upload scanned receipts, invoices, bills, and even statements directly to Hubdoc and they will extract the key data.
  • Let Hubdoc ‘fetch’ your bills and statements from all your recurring vendor accounts so you don’t need to log in each month to secure your monthly bills.

You can also learn more about Hubdoc and their integration with Xero in our webinar, "Getting to Know Hubdoc" on September 22 at 2:00 p.m. Eastern Time. Register here.

In other words, Hubdoc eliminates the clutter and turns chaos into order. It organizes all your important financial records for you by automatically sorting your documents into searchable and customizable folders as soon as they arrive. Your former ‘piles of paperwork’ become well organized Hubdoc’d data. And that data is easily searchable too. It’s so easy to search with just keywords or phrases or by other ‘keys’ you set-up yourself. There is no need to worry about security either because Hubdoc is protected by 256-bit SSL encryption and backups of your data are automatic.

But securing your documents is just the start. Once these documents have been uploaded or automatically fetched, the key data is extracted using machine learning and AI (artificial intelligence) so it can be synced with Xero or QBO as a properly coded transaction to which the source document is attached. Hubdoc transactions are then automatically matched to their corresponding transactions in the bank feed, ready for one-click reconciliation and allowing for audit proofed books.

And with the Hubdoc mobile App for Apple or Android, you can access all of your important documents from anywhere you have internet/cellular service.

For Accountants and Bookkeepers, Hubdoc changes the way they work too. The hours spent chasing client documents and doing manual data entry, as well as ‘keeping the books’ the books the old fashioned way, all become automated and full-proof with Hubdoc.  The new process still is ‘client-focused’ but it allows firms to streamline processes without forcing clients to change how they provide information because it gives them so many options.

Hubdoc then simplifies the firm’s document workflow by putting everything in one location for all of their clients with each client (organization) neatly organized just the way only Hubdoc can do it.  Hubdoc truly becomes the ‘Hub’ for all your client ‘Docs’.  And, Hubdoc provides a Partner Program to support Accountants, Bookkeepers, and Business Consultants, be certain to see Insightful Accountant’s Advisor Alliance feature for more details.

Readers will ask me when I write second look articles, "Murph, what do you think about this software, has it changed since your first look?" So when it comes to Hubdoc, it has always been evolving and improving since the first time I saw it... but in the last two years since the acquisition by Xero, it has definitely gotten better for day-to-day users, and professionals as well.

For more details, watch the Hubdoc ‘video’ at their homepage. But really, the best way to experience Hubdoc is to ‘try it for free’ which you can do at this webpage (no credit card required).

You can also learn more about Hubdoc and their integration with Xero in our webinar, "Getting to Know Hubdoc" on September 22 at 2:00 p.m. Eastern Time. Register here.

Software Second Look features are NOT 'sponsored' articles, nor are they specifically connected with any advertising or other promotional considerations even when they may contain references to sponsored webinars or other promotional events. Neither does this feature constitute a formal endorsement of a vendor or product by either Insightful Accountant, the Editor or Author.