Digitalising Receipt Management with Hubdoc
Small business owners often struggle with managing receipts, invoices, expense reports and paperwork, and manual data entry can quickly take over your week. Hubdoc helps you manage your finances more efficiently by digitising paper receipts and automating the process. Hubdoc is a cloud-based platform that automates the collection, organisation, and storage of your financial documents. By integrating with accounting software like Xero, it makes managing your business finances simpler and more efficient. If you're looking to reduce paperwork and streamline your financial admin, Hubdoc is the solution you've been waiting for.
Missing receipts cost a Queensland director a $50,000 deduction
In 2023, a Queensland managing director tried to claim almost $50,000 in work-related travel, accommodation and food expenses at tax time. He had spreadsheets, bank statements and calendar notes, but no receipts. The ATO rejected the entire claim. He appealed to the Administrative Appeals Tribunal, but the decision was upheld. Without proper source documents, the deductions couldn’t be proven.
This case shows how lost records and missing receipts can derail a tax return. For tax purposes, having digital copies stored securely is essential. Receipt management apps like Hubdoc help avoid this exact problem and take the stress out of expense tracking by allowing you to store your receipts and documents securely, keeping you audit-ready.
What is Hubdoc?
Hubdoc is a tool that automatically collects your bills and business receipts and sends them straight into Xero for you. It's is a cloud-based document management solution designed to help businesses and individuals digitise and organise their financial records, business expenses and expense management workflows. It automates the collection and storage of receipts, bills, invoices, and bank statements by extracting key data and syncing it with accounting software like Xero. Hubdoc is a powerful tool to eliminate manual data entry, providing centralised document management.
Hubdoc features
Snap and send paperwork: With the Hubdoc mobile app installed on your phone, users can simply take a photo of paper receipts, invoices, or bills, and Hubdoc will use it's receipt scanning technology to scan, extract, and store the document. No more physical paperwork to manage!
Email integration: Hubdoc provides a personalised email address, allowing users to email receipts, bills, or invoices directly into the system. Hubdoc extracts the information and files it automatically for you.
Seamless publishing: Hubdoc allows you to publish documents and their data directly to accounting software like Xero making it easier to manage your finances.
Supplier rules automation: Automate how receipts and bills are categorised and coded, saving you time on repetitive tasks.
Collaborate easily: Hubdoc integrates with bookkeeping and accounting software, ensuring smooth collaboration with your team, bookkeeper, or accountant.
Cloud backup and organisation: Hubdoc automatically backs up your financial documents in the cloud. It also sorts and organises them into searchable, customisable folders, ensuring you can easily find any document when needed.
Hubdoc's integration with Xero accounting software
Hubdoc works seamlessly with Xero to make receipt and invoice management effortless, ensuring your financial records stay accurate and up-to-date. Here's how Hubdoc enhances your experience with Xero:
- Automatic data capture: Hubdoc extracts key information like supplier names, amounts, and invoice numbers from receipts and bills. This data is automatically uploaded into Xero, eliminating the need for manual entry.
- Seamless reconciliation: Once Hubdoc captures the receipt data, it syncs directly into Xero and matches transactions with your bank feeds. This ensures that all financial records are fully reconciled without manual intervention.
- Create draft transactions: Hubdoc automatically generates draft transactions in Xero using the extracted data. Supplier rules can be set up to automate how bills and receipts are coded, reducing the need for manual adjustments.
- Document attachment: Every transaction pushed from Hubdoc into Xero includes the original source document, whether it’s a receipt, supplier bill, or professional invoice, giving you clean, traceable records for audits and reporting.
- Paperless organisation: Hubdoc stores and organises all receipts and bills in Xero into customisable supplier folders. With unlimited cloud storage, you can easily access and manage documents from anywhere, ensuring all financial records are securely backed up.
With Hubdoc and Xero, you save time on admin tasks, and maintain accurate financials. Hubdoc syncs your financial data directly into Xero (from credit card payments to supplier bills) giving you clear insights into your transactions across one or multiple businesses.
Digitally organise receipts for simpler admin
Gone are the days of stuffing receipts in shoeboxes or getting buried under piles of paperwork. Hubdoc allows users to organise and access important financial documents from any device (including your mobile device), anywhere in the world. With Hubdoc, you can rest assured that your financial records are backed up, searchable, and available for easy retrieval whenever you need them.
Why Hubdoc is great for businesses
- Reduces manual data entry and human error
- Simplifies receipt and document collection
- Centralises financial records for easy access
- Seamlessly integrates with Xero for streamlined accounting
Hubdoc is an essential tool for businesses looking to simplify their business accounting, admin processes and manage receipts, bills, and invoices in a paperless, efficient way. If you're looking to improve your financial workflow and reduce time spent on admin, Hubdoc is a smart choice, especially when integrated with Xero.
Ready to simplify your receipt management?
Hubdoc is one of the best receipt apps for small business, and the mobile app makes it easy to scan documents from your phone. Start using Hubdoc with Xero today and streamline your financial admin. Say goodbye to manual data entry and paper clutter. Sign up for Hubdoc and take the first step towards easier, more accurate bookkeeping.
If you're interested in getting started with Hubdoc, get in touch with us at Bonerath & Co Accountants.
Hubdoc FAQs
Can Hubdoc create expense reports?
Hubdoc doesn’t create full expense reports on its own, but it captures your receipts, extracts key information, and sends the data into Xero. From there, you can easily create expense claims or reports for business accounting and financial reporting.
Can I send professional invoices into Hubdoc?
Yes. Hubdoc can store and process professional invoices, supplier bills, and receipt photos. These documents are scanned, the key details are extracted, and the transaction is pushed into Xero for accurate processing.
Does Hubdoc work on a mobile device?
Yes, the Hubdoc app works on any mobile device, including iPhone and Android devices. You can scan receipts, upload receipts, and manage receipts directly from your phone.
Can Hubdoc scan receipts?
Yes. Hubdoc acts as a powerful receipt scanner. It uses optical character recognition (OCR) to extract information like date, supplier, amount, and GST from paper receipts and digital receipts.
Can Hubdoc help with tracking expenses across multiple businesses?
Yes. If you manage multiple businesses, you can store your receipts and financial data in separate Hubdoc organisations. This keeps expense tracking clean, organised, and compliant for tax purposes.
Does Hubdoc help small businesses manage expenses?
Absolutely. Small businesses use Hubdoc to manage expenses, reduce manual errors, and automate bookkeeping. It’s especially helpful for keeping track of transactions, supporting tax return preparation, and avoiding lost records at tax time.
Is Hubdoc one of the best receipt apps for business owners?
Yes, Hubdoc is widely considered one of the best receipt apps because it auto-fills receipt data, stores receipts securely, and syncs everything into Xero. Many people use it as a modern alternative to apps like Receipt Bank or Zoho Expense.
Can Hubdoc approve expenses or process expense claims?
Hubdoc can capture and categorise expenses, but approval workflows and expense claims are handled in Xero. Hubdoc simply sends the financial data and documents so they can be processed correctly.
Does Hubdoc support multi-currency or international receipts?
Yes. Hubdoc can extract key information from foreign receipts and invoices. When synced to Xero, the platform applies the correct multi-currency support and exchange rates.
Can I track mileage or travel expenses with Hubdoc?
Hubdoc can store and categorise travel-related expenses, and you can upload mileage logs or receipts. However, mileage tracking itself is usually done in Xero or another expense app.
How does Hubdoc help at tax time?
At tax time, Hubdoc ensures you have a complete digital record of receipts, invoices, credit card transactions and paperwork. Everything is stored securely, giving the ATO clear insights and proper documentation for tax purposes.
Does Hubdoc work across multiple devices?
Yes. You can access Hubdoc on mobile, tablet, and desktop. All your data, receipts and financial records sync across multiple devices so you can manage expenses from anywhere.
How does Hubdoc help reduce data entry?
Hubdoc extracts key information from receipts and invoices and auto-fills this data into Xero. This reduces data entry, saves time, and cuts down on manual errors.
Can I use Hubdoc for free with Xero?
Yes, Hubdoc is included free with most Xero plans. You get features like receipt scanning, upload tools, and secure document storage at no extra cost.
