In little more than four weeks, the world has transformed. With global businesses striving to maintain a normal service in the face of staff shortages, remote working, and social distancing, it’s more important than ever to streamline your business operation and to reduce costs where possible.
This makes the inclusion of Hubdoc in some Xero subscription plans especially welcome, adding teeth to what is already one of the world’s most powerful cloud accounting packages.
What Is Hubdoc?
Hubdoc extracts the key data from all your important financial documents – invoices, receipts and bills – and syncs it with your Xero accounting software, slashing time-consuming data entry, boosting productivity and freeing up your staff to work on more fulfilling tasks. At David Howard, we are delighted to offer Hubdoc in Xero Starter, Standard and Premium plans for no additional cost – supporting your business and clients at a time of unprecedented change in the UK and beyond.
The benefits of Hubdoc
Cloud accounting software such as Xero has revolutionised bookkeeping for businesses, improving efficiency and accuracy, with automation of time-consuming manual tasks at its core.
Integration with Hubdoc takes that one step further, offering several benefits:
1) Cost-Effective And Time-Efficient
Hubdoc auto-fetches documents from over 700 utility providers, financial institutions and online vendors, cutting the time spent manually inputting data and eradicating minor numerical errors that must be identified and corrected later. Where statements, invoices or bills are uploaded via .pdf or digital format, Optical Character Recognition extracts the relevant data, such as vendor name, dates and totals, ensuring excellent accuracy.
2) Cloud-Based Document Management Filing
Instead of maintaining an office-based filing system of potentially thousands of paper documents, which consumes staff time and valuable space, Hubdoc automatically organises documents by vendor name once they have been auto-fetched or uploaded, for easy access without the need for a physical paper trail. As documents are stored digitally in the Cloud, hard copies can be disposed of, reducing the burden of time and space on your department.
3) Standardised Coding
Hubdoc’s vendor rules determine how bills, receipts and statements are coded, improving publishing to accounting software such as Xero or Quickbooks Online. Automated coding for recurring invoices and bills guarantees consistency, with no opportunity for miscoding.
4) Full Integration With Xero For Accountability
Hubdoc attaches each document to the relevant transaction in Xero for swift and effortless cross-checking. With data organised and verified automatically, both you and your clients can be confident that financial documents are secure and traceable (invoices are visible to all users), while reconciliation and auditing are simplified with less exceptions to chase down and investigate.
David Howard: Working In Partnership With You
At David Howard, we’re always actively searching for ways to work in partnership with your business and, at a time of considerable pressure, we’re committed to providing streamlined solutions to maintain efficiency and productivity, without compromising the safety of your colleagues and their families.
As one of only a few certified Xero Platinum Partners in the UK, we support your business by setting up the software or managing your outsourced bookkeeping, reducing your costs and improving the distribution of your staff.
For more information about incorporating Hubdoc into Xero, or into cashbook and ledger plans, feel free to get in touch for free, impartial advice.
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