Save time and paper with Hubdoc
Save time and paper with Hubdoc
Paper is slowing us down
August 24, 2020

Paper is undoubtedly one of the world’s greatest inventions, however these days paper is better known for slowing us down. That is one of the reasons businesses want to minimise manual entries and paper documents, and introduce a process that is environmentally friendly and efficient.

Online accounting platforms such as Xero make this process so much easier and provide various options for recording documents from Xero’s ‘Email to Bill’ function to manual entry to digital data capture.

One of those digital options for data capture is HUBDOC. Let’s have a look at what it can do.

There are several ways Hubdoc can be used:

  1. You can setup a specific email address for your business and have suppliers send their invoices there
  2. You can take pictures of your documents/bills using the mobile app
  3. You can turn on paperless billing with your suppliers to let Hubdoc fetch your documents itself
  4. Or you can upload any documents you have scanned manually

Hubdoc then extracts the date, amount and supplier name as well as, if applicable, the due date and invoice number from all documents.

If you chose to publish your documents manually one by one, you’d need to select the ‘Awaiting Approval’ status every time. There is an option to enable auto sync for suppliers, where Hubdoc will push the respective documents automatically to Xero.

Once the bill/ document arrives in Xero as ‘Awaiting Approval’ all that is needed is your authorisation in Xero and that is it. Your documents are now recorded in Xero.

It is also worth mentioning that Hubdoc was included as of March 2020 for no extra charge with Xero Starter, Standard and Premium Plans.

If you need to book a training session in order to get started using Hubdoc then just get in touch and we can book you in for some online training.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Team Hive
If you have any questions or comments about this article, please get in touch.
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