As a small business, you likely don’t have fully-staffed accounting and bookkeeping departments. But you still need to balance your books, pay your taxes and do financial planning.
The problem is these endeavors are complex and time-consuming and you’ve got a business to run. Sure, you could hire more people to help you out, but as a startup, you need to control expenses.
The answer for most small businesses is to use time-saving accounting and bookkeeping software.
One popular application that is leading the way is Hubdoc. a storage solution that aims to eliminate your need for data entry.
You can scour the web for Hubdoc reviews, but what does the service really do and how can it help you? Keep reading for your definitive guide to Hubdoc.
What is Hubdoc and What Does it Do?
Hubdoc is a powerful application designed to organize your data from a variety of sources. It gathers your receipts, invoices, statements and bills and stores them in one central hub. No longer do you need to login to several different accounts to get your information.
Hubdoc converts all these documents into usable data you can export into your accounting software. To that end, Hubdoc integrates with QuickBooks, Xero, Freshbooks, Bill.com, Intacct and Sage One.
Here is a couple of ways Hubdoc works:
Using the mobile app, take a picture of a receipt, bill or invoice. Hubdoc uses optical character recognition (OCR) to scan your documents and extract important information before storing them. At that point, your information is ready to be published and you can throw away the paper copies.
You can also forward email paperwork to Hubdoc and they will extract key data for you. And if you have already scanned receipts, invoices and bills, you can upload them to your account and Hubdoc will extract all the important information.
Additional Features
Hubdoc allows you to sync the data from your documents to your accounting software. You can automate the way in which your documents are published and coded by adding rules to the process.
All of your documents are automatically backed up to Cloud servers in Hubdoc. You can also use the Box feature to create copies as needed.
Hubdoc Security
Hubdoc protects all your data with 256-bit encryption, SSL/TLS and a Premium Extended Validation service. Taking it a step further, the application uses McAfee and TRUSTe to monitor and validate activity and secure your data.
It’s also important to note that Hubdoc software is “read-only.” That means no one, including you, can make account changes due to their limited access to your accounts, bills and statements.
How Much Does Hubdoc Cost?
Hubdoc offers a free trial period, and you can sign up without a credit card. Once the trial expires, the fee is $20 per month.
Accounting firms can use the software for free but must pay $20/month for each client they enlist.
Hubdoc Reviews: The Bottom Line
Small businesses need every advantage they can get to compete with larger companies with bigger budgets. You may not have the biggest accounting and bookkeeping staffs, but your software can do the job and save you time.
That’s where Hubdoc excels. It executes data entry tasks and organizes all your data in one central place while conveniently integrating all your data with your accounting software.
This guide is the nuts-and-bolts of Hubdoc reviews, and hopefully, we’ve given you a clear picture of the extensive capabilities of this powerful software.
Keep reading this blog for more helpful articles on ways to grow your business in the smartest ways possible.