Hubdoc is an Accountant's best friend!
January 30, 2018

Hubdoc is an Accountant's best friend!

Paul G. Calvin | TrustRadius Reviewer
Score 10 out of 10
Vetted Review

Overall Satisfaction with Hubdoc

I have added all of my staff as users in Hubdoc. We love the auto-fetching of bank statements and some vendor bills. In addition to fetching the bank statements, it also fetches front and back images of checks written and deposits made (with most banks). Once we get a client set up with Hubdoc's auto-fetching, we don't have to pester our client for access to their bank account or to ask for bank statements or checkbook registers.
  • Hubdoc is an accountant's best friend! Move over Fido!
  • Saves hours of time, by not having to log into a bank and download PDFs one month at a time. The first time Hubdoc is connected with a bank, it will auto-fetch all available historical documents allowed by the particular bank. In some cases, it will fetch 36 months of historical documents. Going forward, it will auto-fetch documents as they become available. You hardly have to lift a finger.
  • Hubdoc does a great job of organizing documents by account and by vendor. It is so easy for bookkeepers and accountants to reconcile bank statements. You can jump from one statement to another with one click. You can truely remain 100% paperless and never have to print unless you need to tick and tie or highlight.
  • The Hubdoc mobile app is fantastic for capturing photos of receipts. They upload to Hubdoc in seconds!
  • Hubdoc also does OCR. Within one day, invoices and receipts will have vendor name, date, amount populated in the coding fields.
  • I love being able to sync to various accounting software (QuickBooks, Zero, Freshbooks, Intacct) and to a permanent document management system (Dropbox, Google Drive, Box, SmartVault, ShareFile)
  • I love how credit card and checks can be sync'ed directly to the accounting software and the image of the receipt is attached to the transaction in the accounting software.
  • I do wish that the OCR process was quicker. It would be nice if the transaction was ready for review in 20 - 30 minutes or less.
  • It seems like it does not sync corrections to QuickBooks Online (QBO) made after the initial sync. I may be wrong, but that has been my experience.
  • Hubdoc's sync with Amazon was having issues. It started fetching invoices on in one of my Hubdoc companies, so I know it does work. But I tried to add Amazon to another Hubdoc company and Amazon was not even one of the list of vendors available for connection.
  • Hubdoc's pricing is good, but flat at $20 per company. For clients that only have one checking account and one credit card, $240 per year is too much. They need to have a $5 per month version like QBO Self-Employed that is an low volume entry point. For larger companies with many accounts, Hubdoc at $20/mth is fantastic.
  • Saves hours of time! Well worth the investment if there are a lot of accounts, vendors, receipts, etc.
I had been using for paying bills, for storing invoices and receipts, and for recording credit card payments. We did this to digitize all receipts for a business and get the accounting done at the same time. But has a number of quirks, including a long sync time and not being able to handle returns/credits on a credit card. It was also hard looking at a general ledger when everything was a clearing journal entry (no vendors names).

Enter Hubdoc about a year ago for me. Shazam! I can code receipts and bills as expenses synced directly to QBO with the image attached. Syncs in seconds. I still use for invoices that need to be paid with management approval. But for credit cards, Hubdoc is the answer. Hubdoc does sync with for invoice that need to be paid.
As an accountant, I would like to have Hubdoc set up for 100% of my clients. As mentioned before the $20 per month pricing model is great for a company with 4+ bank accounts and credit cards. Small business with only 2 bank/credit card accounts might find $20/mth too pricey.