Xero recently announced that it was integrating Hubdoc into its software. It also announced that as of March 18, Xero will be increasing the price of all their Xero Starter, Standard and Premium plans by $2 a month in Australia.
Xero will be integrating their data capture tool, Hubdoc, for free with all Xero subscription. Most of our clients are familiar with this sort of technology as we have been using ReceiptBank and Lightyear for quite a few years. For those that have not used these tools before, I have included some information below to help you understand some of their features and advantages.
We have been testing Hubdoc over the last couple of months. We still feel that ReceiptBank is quite a bit ahead in terms of technology, but for many of our clients, the difference will be negligible, so the saving of $30+ per month will be worth the move. For some clients, we may still recommend you stay with ReceiptBank, but this will be up to you.
ReceiptBank v Hubdoc
Both read and capture date very effectively, although ReceiptBank does seem a little faster. However, we have found 3 areas which Receiptbank does come out ahead and therefore makes a difference for some of our clients:
- Hubdoc does not allow you to filter your receipt by user or the person who submitted them. This makes a big difference if you are using it for expense reimbursements across your staff or if you are trying to easily split different expenses into cost centres.
- If you need line item extraction for bills with multiple line items, ReceiptBank has a couple of different methods for this while it is quite clumsy in Hubdoc.
- ReceiptBank is more efficient in extract the correct tax for receipts with mixed tax rates eg supermarket bills
If you want more information on either of these products, check out their websites:
If you want to know more about any of these data capture tools, feel free to contact us.