Hubdoc: How to streamline your business bookkeeping

Are you wanting to streamline you business bookkeeping so that you can easily upload receipts on the go?

Hubdoc Introduction

Hubdoc is a data capture software that allows business owners to seamlessly upload bills and receipts into their account software. The software can be a one stop place to store all receipts online and securely so you no longer need a shoebox full or receipts to search through at the end of the financial year. Hubdoc is owned by Xero and is included in all subscription levels. If you are wanting to maxmise your tax refund make sure you review the latest Wage Investor Tax Blogs.

Through integration with Xero Accounting Software you can create a Hubdoc Account that enables you to easily upload receipts and create bills. Firstly you will need to ensure that your business has a Xero datafile and can link with Hubdoc. Next, you can access Hubdocs and create an account. Finally, you will be able to start upload invoices directly to the cloud storage within Hubdocs and streamline your bookkeeping processes. In this article I will breakdown the steps to easily manage your bookkeeping processes through Hubdocs integration with Xero.

Importing into Xero using Hubdoc

To start, access your Xero datafile. Once logged in your can click on the side panel to start accessing Xero Hubdocs. From here, you will need to register a new account. This is an easily and simple process that only takes a couples of minutes to connect with your business datafile in Xero. Once connected you can start to use the functions within Hubdocs. Firstly to begin you should follow the tutorial within Hubdocs. This will provide you with an overview of the features that are accessible within Hubdocs. Learning how you can upload a receipt is an important step that is covered within the Hubdoc Tutorial.

Uploading Documents

Once you have your receipt or purchase confirmation to upload you can upload via the “Upload Document” option. This will enable you to upload your document into the Hubdoc’s Cloud Storage. By uploading immediately you can save time inputting and accounts reconciliation. Upload on the go allows users of Hubdocs to download the mobile app and add receipts as they are out on jobs. I note that Hubdoc is different to Xero expenses and Xero Expenses allows employees to request milage claims and create expense claims. Once your receipt has been uploaded you cana review, publish and proceed to finalise the invoice and import into your accounting software such as Xero.

Hubdoc Summary

This has streamlined the processing of receipts keeping your books in order and saving you time when reconciling accounts. If you would like to learn more speak to one of the tax advisors at DF Business Advisory. Book your free initial consultation to answer any small business or individual tax questions you may have. I note that this article is general in nature and not considered specific tax advice. You will need to speak with a licensed professional advisor.