Credit cards statements, vendor bills, bank statements, investment accounts – they add up to lots of papers. It seems like the more I try to get rid of paper, the more it enters my life. The choice is download, including logging into multiple sites, and save or get paper, scan and file. But there are other choices.
Hubdoc is designed for document storage and retrieval. It has a powerful ability to automatically download all your documents and store them securely. Personally this allows me to download statements and bills for my own business and personal accounts and access them at a single site. For customer files, the client can set up document access and then you can see the documents and work with them without needing the login and password for every account and without them needing to send statements.
Documents are downloaded into an organized folder structure. You can easily modify the folder names and you can tag documents for additional layers of sorting.
You can also take a photo of a receipt and upload it. Hubdoc scans it and extracts the data for your accounting system and keeps the record. Everything gets stored in one place with secure access for those that need it. Hubdoc links with QuickBooks Online as well as Xero. For regular, ongoing invoices, you set up rules as to what account should be charged and what account the money is coming out of. Hubdoc feeds the extracted data into the accounting system ready to match if you are downloading, or just part of your accounting records. Hubdoc will also attach the source documents into the accounting system.
If Hubdoc can’t download your document you can email it to a special email address for automatic inclusion or drop it into your Hubdoc account.
Support is by email but very prompt. Even on weekends I got a response to an email I submitted.
Hubdoc isn’t perfect (but what is?). It cannot download to QuickBooks desktop and it can’t handle split account assignments. However, it’s easy to use and does what it says it will. The time it saves makes it well worth the small investment.
If you are interested in Hubdoc, you can contact them at www.hubdoc.com and sign up for a 14 day free trial.
If not, then just stick with the 'same old, same old' and don't blame me for not telling you about alternatives.