Hubdoc vs Receipt Bank Which One To Opt For?

Companies using Hubdoc for document-management are majorly from United States with 157 customers. Other top countries using Hubdoc are Canada and Australia with 85(20.19%) and 79(18.76%) customers respectively. All of your documents are automatically backed up to Cloud servers in Hubdoc. You can also use the Box feature to create copies as needed.

All your financial documents are securely stored and managed from one place, giving your business peace of mind. According to G2, users seem to prefer MindBridge for customer support, and the automation features appear to be spot on as well. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com.

We also integrated their scanner functionality into a custom mobile app that fed straight into the Hubdoc system with document notes via metadata tags. We implemented HubDoc for our company to automate recurring invoices from clients into the correct chart of accounts. It ended up saving a lot of time and helping to avoid mistakes that can happen when manually/arbitrarily assigning expenditures to accounts. If you’re the one using hubdoc daily for a company with a high volume of receipts, sorry.

You are unable to access getapp.com

This feature makes it more convenient for users by automatically filing transactions within your accounting package. It also reduces, if not eliminates, the chance of losing paper receipts again. Hubdoc allows you to sync the data from your documents to your accounting software. You can automate the way in which your documents are published and coded by adding rules to the process. I love how credit card and checks can be sync’ed directly to the accounting software and the image of the receipt is attached to the transaction in the accounting software.

Easily submit their receipts and create expense reports wherever they are. Just capture a receipt with our mobile app and we will extract important details like the supplier, date, cost and more. Hubdoc and Receipt Bank photos are stored in your account and backed up in the cloud applications if you ever lose copies of your records.

Exports

It also has an auto-fetch feature that allows you to access vendor statements directly. Once the digitized items are attached to a transaction, it remains ‘fastened’ even after exporting them to your accounting system. It puts together and organizes expenses and reconciles audit and tax concerns with just a few clicks.

It helps solve the problem of employees not keeping, or turning in, receipts. Hubdoc is great for collecting financial documents and receipts in one place. It is not a solution for anyone who needs to create reports from those documents. Although it is great that they can automatically get bank statements and transactions once linked, these links have been very unreliable historically. Afterward, you can continue to use the application for a flat monthly fee.

The product provides an affordable way to support businesses regardless of whether they use in-house or outsourced bookkeeping and accounting services. Hubdoc appears to be a useful tool for storing and organizing important financial documents, such as bills, receipts, and invoices. The platform offers advanced data extraction features, which can automatically extract important information from documents, and can help save time and effort compared to manual data entry. We use Hubdoc with one of our larger accounting clients who use it as part of the software stack in the bookkeeping department. The transactions in QuickBooks Online and Desktop are created automatically with the help of Hubdoc and it also includes the connected document. Hubdoc features direct connections with the cloud storage services like Google Drive, Smart Vault, Drop box, Share File and Box.

AutoEntry automates data entry by accurately capturing all of your invoices, receipts, expenses and statements into your accounting solution. No more manually inputting invoices, receipts, expenses or statements. AutoEntry extracts the data you need and publishes to your accountancy package…. Hubdoc will categorize an expense to push the charge as a bill/invoice or directly to a bank account into the accounting software. One negative feature is the inability to tag the bank accounts with the last four digits of the credit/debit card that was used so the Hubdoc can push directly to that bank account. At this time of publication, we have to manually add the bank account to push the expense to – also assuming you have the last four digits of the cards memorized.

Also see other Products/Services by Hubdoc in:

I use turboscan to scan the receipts since it makes them look nice. The HubDoc scanner in this app is essentially just taking a photo, poor quality results and certainly not acceptable for archiving receipts in a way that I would be satisfied with. Fortunately, despite using HubDoc everyday of my life for years now, I rarely have to actually interface with their software. This is an incredibly helpful function when you don’t have a view only access to the client’s bank account.

Receipts, bills, proclamations and solicitations are the important information which is omitted. For non-Xero users, you may still get in touch with the Xero Customer Experience team. Subscription & Billing Everything about billing, pricing, and subscription management.

Top Competitors and Alternatives of Hubdoc

A simplified process ensures that you will be able to focus on the core work. First, You have to take a picture of your bill, receipt or receipt with the help of portable application and then throw away the paper copy. Bank announcements and recurring bills are delivered automatically. Has a free version included as part of a plan when Xero users are already under a Business Edition package. Otherwise, it costs a standard $12 monthly after its 30-day free trial.

• It gets updated every year with different types of fresh features and methods which helps you in improving the clarity and accuracy of the information.
• The date and time log automatically affixed with every scanned document makes every receipt entry effortless to find and locate.
• Around the world in 2023, over 164 companies have started using Hubdoc as Document Management tool.
• Hubdoc is great for collecting financial documents and receipts in one place.
• A unique thing about AuditFile is that it has pre-built modules for specific types of audits, which makes it a truly professional tool.

This limits its users to those with a low volume of transactions or opts to switch software when they scale up. Both Hubdoc and Receipt Bank have excellent audit trails, making syncing data much easier. The date and time log automatically affixed with every scanned document makes every receipt entry effortless to find and locate. You can delegate access to Hubdoc and Receipt Bank so you can focus on more important things. Your bookkeeper, accountant, or anyone with granted access can scan and upload documents in both software. Hubdoc is one of our favorite apps here at Entreflow, it’s a perfect place for us to store all of our client’s documentation.

The only thing that got our attention was that some users pointed out the necessity of having a financial or accounting background to use this app effectively. SAI360 is yet another platform that can best be described as AuditFile’s twin. The app has extensive compliance and risk management features powered by AI. PandaDoc is a useful addition to any of the other tools mentioned above, and you are also free to choose any of the 900+ apps that PandaDoc currently supports. The app is exclusively used by users that work in accounting and finances and mostly has favorable reviews. Hubdoc started as a data capture company and was later integrated into the ultimate tool for bookkeeping after Xero acquired it.

Although the product has built-in multi-currency functionality, it can improperly handle some currencies, especially when used in conjunction with QuickBooks. Some reviewers complain that HubDoc doesn’t give them the ability to tag bank accounts with the last four digits of the credit or debit card that was used in a transaction. As a result of this issue, the software often can’t push transactions to the right account.

The payment receipt may now be personalized with your business’s logo, color scheme, and other specifics to match the rest of your customer interactions. Advanced Mode, a brand-new bank feed option in QuickBooks 2022, is accessible. The standard method and the Express mode, which tries to match downloaded bank transactions with those already entered, are the two different banks feed choices offered in QuickBooks Desktop. Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software. Invoice Inbox allows your suppliers to send your email invoices directly to Envoice.

HubDoc Pricing

There is some risk of corruption with all users having access to all other users’ receipts. Used to process receipts and invoices for expenses and purchases. “Hubdoc is a must-have app for anyone interested in automating their bookkeeping workflow and eliminating data entry. It has changed the way we run our business.” There are plenty of data capture and automation apps to choose from as we head into 2023. And for those looking for greater efficiency in teamwork, the app offers some project management features as well. The app’s dashboard provides extensive insight into data trends and risk characteristics that can be of great value for financial agencies carrying out contract risk management for clients.

It offers tailored accounting reports so you can rapidly share them with customers and assess the performance of your business. Comparing your QuickBooks transactions with supplier invoices that have been posted to the GST portal will also help you determine the correct ITC amount. QuickBooks Online is the most popular accounting software in the world. Snap photos of your receipts and link them to expenses right from your phone.

You can land up being inundated with useless Illinois income tax rate data. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.

And if you have already scanned receipts, invoices and bills, you can upload them to your account and Hubdoc will extract all the important information. For clients that only have one checking account and one credit card, $240 per year is too much. They need to have a $5 per month version like QBO Self-Employed that is an low volume entry point.