I am sure a lot of you reading this would have never heard the word ‘Hubdoc’ before and in turn are not sure how it will make for ‘less work, more play’… So, here is a little overview to explain what it is, why we are talking about it and how it will integrate with Xero to decrease your hours spent behind the computer.
What is Hubdoc…?
Hubdoc is here to make our bookkeeping life easier! It does this by automating the collection of documents and sending that data to Xero for us. It has the ability to auto-fetch bank statements, bills and receipts from over 700 financial institutions, utility and telephone providers and other online vendors. Once you connect your accounts, your recurring statements will automatically be retrieved by Hubdoc and will be added to your account so you can finally stop chasing them down when your BAS due date rolls around. Hubdoc also uses technology which can analyse data, such as receipts and other scanned documents to make your document management and data entry a breeze, so you can say goodbye to piles of paper on your desk!
Why are we talking about Hubdoc…?
Time is money and with life seemingly getting busier and busier every year, Hubdoc will simply make our life’s easier and more organised by saving time on reconciling accounts and storing statements and receipts.
Now for the REALLY exciting part! As of 18 March 2020, Hubdoc will be included in Xero Starter, Standard and Premium Plans at no additional cost! From that date, Xero subscribers will have access to Hubdoc and its features. By integrating directly into Xero, Hubdoc turns fetched bills and receipts into accurately coded Xero transactions, helping to reconcile your transactions in a few less clicks. Say goodbye to manual data entry and have more time to focus on what matters the most.