Just snap a pic, upload the file to Hubdoc, then see the financial data in your Xero accounting software. Then securely store, organise, and access it in one place. They allow you to fully digitize your receipts and invoices, so you can throw away all the folders full of old receipts you had lying around. This is actually a much stronger audit trail, as once digitized, it’s faster and easier to search for old supplier invoices. Paper is easily lost, but your digital records will be stored on both your cloud based accounting software and in your OCR software, https://artandcraftstudios.com/welcome-independent-rx-pharmacy-services/ making this a more secure way to store financial records.

Document Parsers

This automation eliminates manual data entry, reduces errors, and streamlines reconciliation, allowing businesses to focus on strategic financial management.
If you’re looking to automate categorization of expenses and help avoid human error, this is a good option.
The Hubdoc app has been a game changer for me when it came to accounting.
HubDoc integrates with 100+ business apps via APIs and offers add-ons like Adobe Sign eSignature and HubDoc Expenses.
The last big advantage of OCR is that it improves communication with your bookkeeper and accountant, as they can easily access copies of the original invoices, should they need more detail.

The platform is especially valuable for companies that deal with multiple accounts and high volumes of documents, as it consolidates information from various sources into a single, organized interface. Iv been using it for 14 months now and really ready to move to FreeAgent or something else. Hubdoc’s software provides a slick way to store and organise financial records.

Is Hubdoc right for you or your business?

Hubdoc links to my Xero account (which is connected to my business bank accounts) and then it automatically reconciled into suggested categories. Used to process receipts and invoices for expenses and purchases. Clients like to scan multiple pages at one time and vendors invoices/bills. This is less suitable as they need to do individual scans since Hubdoc cannot separate them out.

Hubdoc Features and Options

More user-friendly – For businesses with a lot of staff, being user-friendly is key. HubDoc can integrate seamlessly with popular accounting, ERP, CRM, HCM apps and more via APIs. It compares favorably to competitors by offering unlimited transactions and OCR extractions, postal mail document support and advanced workflows. You can also check out my review of Freshbooks, which is another accounting software company.

That information can be used in accounting software packages, saving you time on data entry.
We also integrated their scanner functionality into a custom mobile app that fed straight into the Hubdoc system with document notes via metadata tags.
You can also check out my review of Freshbooks, which is another accounting software company.
Dext holds records for five years – even if you cancel the subscription – and it’s not a hassle to reactivate to download files onto your own storage system if needed.

It just allows you to take an an image, or upload a receipt/invoice/bill where the app then uploads to the server where some very basic OCR identifies Business Name, Date, Total cost and Tax. Manually edit the Business Name or Tax field or Date or Total if the OCR doesn’t recognise it or gets it wrong? My guess is you may be able to edit from within the desktop app but this app is too limited to be of any great benefit. For the limited features this app provides it would have been much better for Xero to add the features to their Xero app to provide an easy workflow. Dext has a more modern user interface, performs slightly better at OCR scanning and has some useful additional features. Hubdoc still does an excellent job at the all the core features of an OCR accounting software, and at just $12 per month it represents excellent value for money.

Is Hubdoc for Xero or Dext the better option, and why?

It helps solve the problem of employees not keeping, or turning in, receipts. hubdoc reviews Nice that you can publish right to QBO (we use QBO for all accounting). Miles better than keeping paper receipts and easy to use tags. To cancel a Hubdoc product, log in to your account, navigate to the Profile & Security tab, and manage your subscription settings. An easy financial foundation – track cash flow with the essentials.

No improvements since Xero bought Hubdoc

Hubdoc is a software solution primarily designed to address the needs of mid-sized businesses, particularly those in the financial sector. It effectively serves bookkeepers, accountants, and businesses that need to manage a significant number of financial documents. Startups may find it somewhat overwhelming due to its extensive features, while mature companies with more complex processes may benefit from its comprehensive document management capabilities. However, its also quite adaptable to Bookkeeping vs. Accounting growing businesses that are beginning to expand their financial operations. Geographically, Hubdoc is flexible and can accommodate both local and global businesses. It supports multiple currencies and can integrate with a variety of financial systems worldwide.

Company details

We also integrated their scanner functionality into a custom mobile app that fed straight into the Hubdoc system with document notes via metadata tags. Better functionality – Unlike Hubdoc for Xero, Dext allows for paperwork matching. This is where something might have been reconciled in your bank account, but there’s no paperwork to accompany it. HubDoc is an excellent solution for small businesses looking to modernize document and data workflows. With powerful automation capabilities out-of-the-box, it can lead to significant time and cost savings.