When Hubdoc and Xero collide!

16 June 2020

Keeping on top of your data processing and document storage just got easier! Since 18 March 2020, Hubdoc has been available for all Business Edition Xero subscriptions and will be available to access right from within your Xero file.

The idea of knowing that all your financial documents can be stored in one place, automatically can even give the most organised of people greater piece of mind.

What is Hubdoc?

Hubdoc is a tool to capture source documents and store a digital copy in a secure place. It will file your documents in a virtual filing cabinet making it easy to see and access historical documents.

How can Hubdoc benefit my practice?

Do you have a high volume of creditor bills? Do you or your practice manager currently spend a lot of time handling and entering bills into Xero manually?

Do you have a lot of receipts to collate and enter such as credit card and petty cash expenses?

Hubdoc can help streamline your bills process by saving data entry time and reconciling your bank accounts in a simplified, seamless process.

How does it work?

Bills and receipts imported into Hubdoc can be automatically pushed to your linked Xero file to create a bill awaiting payment or a paid transaction automating the whole process in a few clicks.

  1. Hubdoc captures your bills and receipts via either your mobile device, documents saved to a desktop computer, email or even fetching data directly from the supplier.
  2. Once these documents are in Hubdoc the key data will be auto extracted using OCR technology to digitally read the information. Dates, invoice numbers, totals and GST amounts are extracted and populated automatically for you.
  3. Receipts and bills are then published and pushed to Xero in just a few clicks – creating either a bill awaiting payment in Xero with a copy of the source document attached or a spend money transaction - ready to match with your bank feed!

  4. Click on your bank reconciliation screen and match the transaction to the bill entered in Xero - reconciling is just now one click!

Automating this process within Hubdoc and Xero will mean you or your team will have more time in the day to spend on your practice and improving practice efficiency, patient care and helping the practice reach its overall goals.

The team at Cutcher & Neale are here to help, please get in touch if you would like further assistance.

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Topics: Practice, Business, medical accounting

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