SOFTWARE

Hubdoc - How it Works

August 19, 2020


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Throw away your paper with Hubdoc!

Xero have included their document reading software, Hubdoc, with their Standard and Premium software plans. I love Hubdoc and how it speeds up processing. But I would have to admit that I had been thinking lately about whether it really made things faster, or if I was imagining it. A software glitch last week proved me wrong. Like all software, sometimes problems occur. Last week Hubdoc was not working properly for a short period of time. It was frustrating, but not all was lost. I just had to go back to the old way of doing things for a while. That meant downloading the copy of the invoice from Hubdoc, uploading the document to Xero and creating a bill. It was painful having to go back to the “old” way of doing things, by manually filling in all the fields. That’s when I realised how much time I was saving. I can literally get the job done in at least ½ the time by using Hubdoc. So how does it work?

For the quickest results, get your suppliers to email directly to Hubdoc (each Hubdoc account has a dedicated email address). Once your invoice is in there, Hubdoc will read the relevant information, such as the invoice date, number, amount, and GST content. Hubdoc determines the supplier name and creates a folder in that name to automatically store a copies of invoices, credits and statements. Enter the accounting information (accounting code, Xero tracking and invoice description). Hit Publish and your invoice will miraculously transport itself to Xero, with a PDF or Jpeg of the invoice attached.

There’s a very handy mobile app too. Just take a pic and hit Use Photo. Hey Presto! Your document is uploaded ready for processing.

Hubdoc has a handy search field too. You can search for any relevant invoice content, such as an amount or invoice number. Using Tags keeps documents at your fingertips. A tag creates a sub-folder of documents (the document stays in the supplier folder as well). This means easy access to groups of documents – e.g. Future Dated or Month Statements. Simply delete the Tag when it is no longer relevant. The documents aren’t deleted, as they remain in their original folder.

When you start out, think of Hubdoc as a small child. You must teach it a few things at the beginning, but once it knows, it will remember. And the more you use it the more it will remember and the faster it will become.

Hubdoc’s not only for bills. Keep any document you like in there. You can simply upload a document, allocate a folder name, title and date and then archive it. Your document doesn’t need to be published to Xero.

Of course, the other advantage of using Hubdoc and Xero, to store your financial documents, is throwing away your paper. If a full invoice or receipt is attached to the transaction, you don’t need to keep the hard copy!

Hubdoc’s easy to setup and you can have unlimited users. Users don’t have to have access to Xero; you can easily give them authority to only load up and see their own documents. If you have a Xero account, then I would recommend taking Hubdoc for a spin. It’s included in your Xero subscription, so what have you got to lose?