Hubdoc
Effortlessly capture and organise all your financial documents in one place.
About Hubdoc
Hubdoc, now part of Xero, is a document management solution designed to streamline bookkeeping and accounting processes. Its primary value proposition lies in automating the collection and organisation of bills, receipts, and other financial documents, saving businesses significant time and reducing the risk of errors associated with manual data entry. By automatically fetching documents from online accounts and extracting key data, Hubdoc eliminates the need for manual data input, enabling businesses to focus on core operations and strategic financial planning.
Hubdoc works by connecting to bank accounts, credit card accounts, and other online financial platforms to automatically retrieve statements, bills, and receipts. Users can also upload documents manually via email, mobile app, or desktop scanner. Once documents are captured, Hubdoc automatically extracts key data such as vendor name, date, invoice number, and amount. These data points are then synced with accounting software like Xero, allowing for seamless reconciliation and transaction matching. Hubdoc also provides robust document storage, allowing users to search, filter, and retrieve documents easily.
Hubdoc integrates seamlessly with Xero, providing a tight connection for automatic data synchronisation and streamlined reconciliation. It also offers integrations with other popular cloud-based accounting and storage solutions, such as QuickBooks Online, Bill.com, and Dropbox. This integration capability ensures that financial data flows smoothly across different platforms, reducing manual data entry and minimising the risk of errors. Hubdoc is highly scalable and can handle the document management needs of small businesses to large enterprises, adapting to increasing volumes of data and transactions as a business grows.
Hubdoc is ideally suited for small to medium-sized businesses, bookkeepers, and accounting professionals. It is particularly beneficial for businesses that process a large volume of invoices, receipts, and bank statements regularly. For example, a small retail business can use Hubdoc to automatically capture receipts from suppliers, track expenses, and reconcile bank statements with minimal manual effort. Accounting firms can use Hubdoc to streamline their clients' bookkeeping processes, improving accuracy and efficiency while saving time.
Why Tourism Businesses Love It
For Australian tourism businesses, Hubdoc offers significant advantages in managing the often-complex financial aspects of their operations. Imagine a tour operator in the Outback who juggles invoices from various suppliers (fuel, food, accommodation), permits, and marketing expenses. Hubdoc automates the collection of these documents, ensuring no invoice is missed, which is crucial for claiming GST and maximising tax deductions.
Consider a boutique hotel in Melbourne managing seasonal fluctuations in bookings. Hubdoc allows them to easily capture and organise invoices related to maintenance, marketing campaigns targeting peak seasons, and increased staffing costs. The ability to quickly retrieve these documents during tax time or for audits simplifies the compliance process. Moreover, the integration with Xero allows for real-time tracking of expenses against revenue, providing valuable insights into profitability during different periods. A bed and breakfast in Tasmania, dealing with a mix of online bookings and walk-in guests, can use Hubdoc to manage supplier invoices and track commissions paid to online travel agents. This allows them to accurately calculate their net income and identify areas where they can optimise costs. By centralising all financial documents, Hubdoc provides Australian tourism businesses with better financial visibility and control, ultimately contributing to improved profitability and efficiency.
Furthermore, the ability to securely store documents in the cloud ensures that vital financial records are protected from physical damage or loss, a significant advantage for businesses operating in remote or unpredictable environments. The mobile app also allows for on-the-go expense tracking, enabling tour guides or property managers to capture receipts immediately, reducing the risk of them being lost or forgotten. This streamlined approach to document management not only saves time and reduces errors but also frees up resources to focus on delivering exceptional customer experiences and growing the business.
Key Features
Pricing
Pricing Model
subscription
Starting From
Free with Xero Business Edition
Details
Hubdoc is bundled free with Xero Business Edition plans. For those who need just document management, Xero offers Xero Go which starts at $5/month. Please refer to Xero’s website for the most up-to-date pricing information.
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