How You Can Spend Less Time On Paperwork
After a busy day helping my clients and managing my suppliers and staff, I really enjoy sitting down to sort and organize my paperwork. Said no business owner, ever.
But, as a business owner, at some point you still need to take care of those growing piles of paper. So, what is the goal? To make it fast and efficient - and that’s where Hubdoc can come in.
Hubdoc’s vision is a simple one: automatically import all your financial documents & export them into data you can use. They have built a cloud program to gather and automatically fetch your supplier invoices, bank and credit card statements, then extracts key information, sort and file them in one place.
Let’s explore this further
The first part is to get your documents to Hubdoc and you have a few ways of doing so:
Take a picture of your document with the Hubdoc app (iOS or Android);
Link your online accounts, so your invoices and statements are automatically fetched by Hubdoc (this works for most bank, credit card, utilities, and online stores);
Email them to Hubdoc;Upload them to your account via their website;
Send your scanned documents directly to Hubdoc with a Scansnap scanner.
Once your documents are in, Hubdoc uses Optical Character Recognition (OCR) to identify and extract key information from invoices, such as the date, supplier, invoice number, and amounts owed. And if you use Xero or Quickbooks Online, all that information can be synced automatically to your bookkeeping software.
You can save yourself some more time, while increasing the potential for better collaboration and faster service, by inviting your accountant and bookkeeper to your online Hubdoc account.
Here are some more of Hubdoc’s features worth mentioning:
You can set rules for each vendor that will automate how their receipts, bills and statements are synced with your bookkeeping software;
Hubdoc gives you tags and notes that can be added to your documents to help you find them more easily in the future;
Your documents are automatically sorted and organized into searchable and customizable folders;
Your documents can be automatically backed up to ShareFile, Dropbox or Google Drive. Alternatively, you can have everything forwarded to an email address.
We use Hubdoc for ourselves and for a growing number of our clients.
Contact us if you would like to learn more about how your business can start using Hubdoc.