HubDoc Review; making tax time easier?

Hubdoc is a reasonably priced application for extracting data from bills and receipts and exporting it to accounting software packages. The original files are saved. Read on for the full Hubdoc review..

Verdict: Hubdoc makes running a business SO much easier. In my opinion, well worth the investment. Saves me time and effort. Also, has a 30 day free trial.

Introduction

Using Hubdoc, users can upload their bills and receipts and the data will be extracted and exported to your accounting software to create transactions. It can save a lot of time in data entry. The uploaded documents are categorised and searchable. Hubdoc is one of the cheapest applications and can be used with a number of different software packages. Because the company has been acquired by Xero, it is free for Xero users and is very easy to use. Hubdoc has a phone app that allows you to use your phone’s camera to upload documents to Hubdoc. It’s worth trying Hubdoc’s 30-day free trial if you are interested in this software.

What is Hubdoc?

Hubdoc,¹ which is now owned by Xero, is online accounting software and an application that allows you to scan bills, receipts, and bank statements and credit card statements from multiple accounts and store them in one file on Hubdoc. Important information can be extracted and exported to software packages like Xero and Quickbooks Online as transactions, but Hubdoc also saves a copy of the original file.

What can Hubdoc do?

Hubdoc has a number of features that make it very useful. First of all, it allows you to input all your financial documents by scanning them or uploading them or by sending them in an email attachment. It is possible for users to allow access to others such as your accountant or bookkeeper who can immediately view the documents. You can also send invoices directly from your Hubdoc phone app. You can configure your documents for Xero and it automatically creates transactions in your Xero file. Hubdoc syncs with other software packages as well. Hubdoc stores documents in folders and provides a search facility for those documents, allowing you to audit-proof your business.

“Hubdoc does the data entry by reading key information from bills and receipts and turning it into usable data.”

hubdoc.com¹

How does it work?

When you send receipts, invoices, or bank account statements to Hubdoc, it automatically extracts the key information. That information can be used in accounting software packages, saving you time on data entry. A copy of the original document is also saved and the data is saved and categorised and is able to be searched. The data that Hubdoc finds is information such as the contact, the date, and the amount. This information can be used to create a transaction in your accounting software.

How much is HubDoc?

It costs $15 AUD a month in Australia, but you can also get a free trial of 30 days without entering any credit card data. The price varies according to the country, but the prices are all approximately the same.

Does Hubdoc integrate with Xero?

Because Hubdoc is owned by Xero, you can expect to have no problems at all integrating with Xero. In fact, if you already have an account with Xero, clients accounts with Xero can be used to open a Hubdoc account. Hubdoc can easily create new transactions in Xero using the data that it extracted from the documents you scan.

Is Hubdoc free for Xero users?

All Xero plans in Australia include the use of Hubdoc, so there is no need to pay for an account with Hubdoc if you are using Xero. If you are in another country, you may find that some of the Xero plans do not include the use of Hubdoc and you will be billed by Hubdoc separately.

How do I set up Hubdoc?

It is easy to set up Hubdoc. Once you have an account you will be assigned an email address that can be used to email your documents. The email address ends in @app.hubdoc.com but you can choose the first part of the email address. If you download the Hubdoc app, then you can scan documents with your phone camera and add them to your Hubdoc account. Whether you use the website or the app, you can then integrate with software packages for payment processing and cloud storage. To see a list of software packages that can integrate with Hubdoc, read this article².

How do I use Hubdoc in Xero?

It is easy to set up a Hubdoc account from the Xero account. When you log in to Xero, you can find Hubdoc in a dropdown menu. If you have the Hubdoc mobile app, you can sign into it with your Xero login. You upload your bills and receipts using Hubdoc, the data is extracted and published to Xero automatically. For more information about using Hubdoc in Xero, see Issues with setting up Hubdoc – Xero Central.³

“Hubdoc automatically sorts and organizes all of your documents into searchable and customizable folders as soon as they arrive. No more piles of paper or filing cabinets full of documents.”

hubdoc.com/how-it-works

Advantages of using Hubdoc

• You can easily upload any receipt or bill even when you are on the go, using your mobile phone.
• Because it saves a copy of the original document, you do not need to keep the paper copy, so you will not have to worry about keeping track of a lot of paper.
• You can give your accountant access to your Hubdoc account and it eliminates the need for you to keep all of your paper receipts and if you are the sort of person who hands over a box full of receipts at tax time every year, you will save your accountant time and yourself money.
• You can integrate it with your accounting software, saving you time in creating transactions for the software.
• You can try it FREE for 30 days.

Disadvantages of using Hubdoc 

• It is not a free service. For a very small business, it may not be worth the price as some small businesses might not have a large enough number of receipts and bills each month to make automating the process of data entry worth paying for..
• Although Hubdoc can automatically categorise documents, it might be necessary to review the documents to ensure that they are properly categorised for your purposes.
• Some users have said that Hubdoc does not extract data if the print on the document they have scanned is not clear. It may be necessary for you to convert your scanned documents to PDF files before they can be read.
• The mobile app only allows you to scan and upload documents, but does not allow you to add some kind of description or to categorise it. If you have a lot of documents at one time, you will have to go through them one by one to work out what they are, meaning that is not as time-saving as it could be.
• You cannot upload multiple documents at one time. They have to be done one by one which can be time consuming.
• Reports of poor customer service.

What is Captain Fi’s review of using Hubdoc?

The Hubdoc app has been a game changer for me when it came to accounting. Initially, I was keeping receipts for my website expenses in a (literal) shoebox whilst keeping tabs on a google docs spreadsheet.

It became a bit unmanageable and my bookkeeper and accountant weren’t all that excited by it – especially because we live in different states and providing receipts would mean sending things in registered post or taking lots of scans and sending large emails.

I’m 2021, My bookkeeper got me to download Hubdoc and set me up on Xero, which integrated seamlessly.

Now, whenever I use my business credit card, I simply take a photo of the receipt in the Hubdoc app, or save a copy in my camera roll to upload later.

Hubdoc links to my Xero account (which is connected to my business bank accounts) and then it automatically reconciled into suggested categories.

When my book keeper does the 3 monthly reconciliations, all she needs to do is double check the expenses have been categorised correctly and any GST offsets and then produce the statement for the accountant to sign off and then submit the BAS statement, or the yearly tax return.

I’ve been happily using Hubdoc for a couple of years and can Vouch to say It works great, reduces my accounting workload and saves me money!

FAQs about Hubdoc:

Can I email invoices to Hubdoc?

It is very easy to email documents to Hubdoc. When you start your Hubdoc account, you will be given a special Hubdoc email address for this purpose. All you need to do is in the To field, enter your Hubdoc email address, attach the document and send it. It is no different to sending a regular email.

Can I use Hubdoc for sales invoices?

Hubdoc is able to extract important information from receipts, invoices, and bills. For more information about using Hubdoc for invoices, see Uploading invoices via Hubdoc.⁴

How do I connect my Hubdoc to my phone?

Hubdoc has an app for both Apple and Android phones, making it easy to connect. If you have an account, you can easily connect after you download the app. You can also use your phone to scan documents and upload to Hubdoc.

Does Hubdoc have an approval process?

Hubdoc has recently brought in the ’‘Awaiting Approval’⁵ status for invoices. When you publish an invoice from the Hubdoc platform to Xero, ApprovalMax ensures that the document goes to the approvers.

Is Hubdoc worth it?

Hubdoc is best for small to medium businesses, and its software is one of the cheapest. You can even get a one-month free trial. If you already use Xero, then it is definitely worth using since it can very easily be integrated with your Xero software. For many Xero users, a free Hubdoc account is already included, so there is no reason not to try it. In general, Hubdoc has very good reviews, but see this Hubdoc review⁶ to make a comparison with other similar software.

Conclusion

For small to medium size businesses, Hubdoc is useful in reducing the amount of data entry you need to do and to keep track of your receipts and other financial documents. You can use Hubdoc online or with a phone app. Hubdoc has been acquired by Xero and integrates very well with it as well as other accounting software packages. Although there are other similar apps, Hubdoc is one of the most cost-effective and if you are using Xero, you will probably have free access to Hubdoc included in your subscription plan. If not, then you should take advantage of Hubdoc’s 30-day free trial.

You can also check out my review of Freshbooks, which is another accounting software company.

 Reference List:

1.   Hubdoc. Accessed ‘at https://www.hubdoc.com/ on 27 Nov, 2022.

2.   ‘Top 7 Hubdoc Integrations’. Get App. Accessed online at https://www.getapp.com/collaboration-software/a/hubdoc/integrations/ on 27 Nov, 2022.

3.   ‘Issues with Setting up Hubdoc’. Xero Central. Accessed online at https://central.xero.com/s/article/Issues-with-setting-up-Hubdoc on 27 Nov, 2022.

4.   ‘Uploading Invcoices Via Hubdoc’. All Sorted Business Services. 12 Dec, 2019. Accessed online at https://all-sorted.com.au/knowledge-base-2/uploading-invoices-via-hubdoc/ on 27 Nov, 2022.

5.   ‘What is Awaiting Approval Used For?’. Service M8. Accessed online at https://support.servicem8.com/hc/en-us/articles/200272824-What-is-Awaiting-Approval-used-for- on 27 Nov, 2022.

6.   ‘Hubdoc Review’. Shiomi Lavi. Updated 18 April, 2022. Accessed online at https://www.itqlick.com/hubdoc on 27 Nov, 2022.