Hubdoc

Pros

It has three amazing features:
It fetches statements, our client statements directly from the source. So, all of their bank statements, phone bills, hydro bills, any kind of account or they'd have a regular statement, it fetches those as soon as they're released and brings them to us.
They have a unique email address that they're given through Hubdoc. Anything that comes to their email; receipts for any purchases online or what have you, they can forward directly to Hubdoc and they can also set up email forwarding depending on their email service to have those automatically sent over.
With the phone app they can take pictures of receipts on the fly while they're out and about and they don't have to actually categorize those expenses through the app they just to take a picture and they're done. So we're able to get all of the documentation that we're required to close their books super easily.

Another stand-out feature for this app is the OCR technology; so it'll read what's on the image or the attachment that’s sent to Hubdoc, and the data that's on there, and try to categorize it as best it can. We're still involved in verifying and pushing the data. You can set up some automation in there but for the most part it reads the data quite well and it saves data entry time.

So what happens with Hubdoc is once the transaction or the document comes in, the OCR is there to read the transaction level of data, you can then push the transaction over to Quickbooks Online or Xer

Cons

So, where we’d like to see some development is in the multi-currency functionality. So, a lot of our clients have bills that come in in U.S. dollars. It's a little bit messy with the effects moving over to Quickbooks.

Pros

I really like how the setup is easy and the integration with QuickBooks Online is smooth. I really like the mobile app and that you can upload receipts on the fly.

Cons

I was disappointed that the program does not allow us to setup suppliers on the fly that are in a currency other than our native one (other than the one setup as the "main" one in QBO). I also would get a bit frustrated when the syncing would randomly stop for the banks (but this may not be their fault).

Pros

This software allows our our accounting department to remain organized and to pull up a receipt that is stored in Hubdoc with ease.

Cons

We did not find any cons to this program.

Pros

Software used to be very good, when they had the ability to fetch document from various financial institutions, since they have lost it, would not recommend, especially if you are in Canada

Cons

It was a good software until they lost the ability to fetch documents

Pros

- Syncs well with Xero
- Provided FOC with Xero
- Easy way for us to provide information to our bookkeeper/accountant
- Can just take a photo and send the attachment to a Hubdoc email address and the document will be captured in the system

Cons

Once in a while, data is read incorrectly. But this is very easy to fix and not a big issue