What is Hubdoc?
Hubdoc is a great tool for all accountants, especially if you use the cloud accounting software Xero. Hubdoc has so many useful features that make it easy to pay your invoices and expenses. You can send across receipts and invoices in a variety of ways, directly to your accounting software, such as Xero and others like QuickBooks and bill.com.
Ways to Upload into HubDoc
There are many ways in which a user can upload their documents into Hubdoc. The first of these options is to source the document directly from the computer’s hard drive, by either dragging and dropping or browsing. There are two options when sourcing the document from physical storage, single item or multiple items. Single line accepts JPEG, PNG, and PDF, where the document contains a single invoice or receipt. Multiple item accepts only PDF format with one invoice or receipt per page. These documents, after uploading is complete, can be passed through Hubdoc so that the information can be extracted and recorded.
Text Recognition and Uploads to Xero
Hubdoc’s smart way of pulling information from a document speeds up the process of sending across invoices to Xero by reducing the amount of manual entry required by the user. When there are many invoices to go through this is a lifesaver. After the information has been auto-populated by Hubdoc and checked over by the user, it is ready to be published to Xero. After selecting some brief information such as the account name and contact, it can then be sent to Xero with just the click of one button. These invoices can be sent straight over to be matched on the bank reconciliation, or sent to draft in order to check that the invoice is correct before approving. Sending to draft is important when using the auto-sync feature.
HubDoc’s Auto Sync Feature
One of Hubdoc’s most useful features is the auto-sync option. This option is best used for recurring expenses or invoices that consistently contain similar elements such as tax rate, the account to be sent to, and the contact for the invoice or expense. The draft option is important in this case as Hubdoc will automatically publish the invoices or receipts that auto-sync is enabled for. Therefore, if the send to authorised option was enabled and information was wrong it would be much more difficult to reverse. Sending auto-synced documents to draft for a quick check is good practice, to ensure the invoice you send into your Xero matches with the document attached.
Often overlooked, but very handy for accountants and other Xero users, Hubdoc has an attached documents feature. Using this feature means that an image or digital copy of the document is automatically attached to the invoice in Xero. The document can then be viewed whenever it is needed directly from Xero, with no need to go into Hubdoc.