Anlo is moving its Xero clients to Hubdocs

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Using Xero is a very empowering experience. You can see and understand what is happening in your business quicker and make decisions on accurate information. 

With all the economic uncertainty, Xero has decided not to roll out their normal price increase until June/July 2020 and in the same spirit, Anlo will not be increasing the cost of any retainer packages due for renewal before June this year.  Hopefully this will all help a little.

Just to make things a bit better, Hubdocs is now included in your subscription free of charge.

To benefit from Hubdocs, you’ll need to create a Hubdocs account and link your company to your Xero accounting software.

We as a company have been using ReceiptBank for both ourselves and our clients for a year now and have really loved using ReceiptBank. But with the new acquisition, we would like to make it easier for clients to use their accounting software, and also have better software integration, and so will be moving clients that are on Xero to Hubdocs as soon as possible.

This is what Irelene Hampton has to say on Hubdocs:
”With Hubdoc, you can automatically import your financial documents (bank and credit card statements, supplier invoices). It then extracts key data that you can then import into your accounting software program.

Hubdoc also stores the source documents in one digital filing cabinet creating folders per supplier / bank / account etc making searching for documents much easier. You can search for a document by date, amount, supplier, keywords in the document.”

Getting your information into Hubdoc can be done using different methods: 

  • You can take a picture of a receipt or invoice using the Hubdoc cell phone app and upload at any time 

  • Email the document to your Hubdoc account with a unique Hubdoc.com email address

  • Scan a physical document and upload it to Hubdoc

  • Hubdoc can automatically be set up to fetch bills and statements. Hubdoc can be set up to log onto your account, using read-only access and will fetch documents, archive the document and it will be ready for you to review and publish.

  • Hubdoc can then be set up to sync with Xero which will create the transactions in Xero with a copy of the source document attached. You can set up rules to automate how Hubdoc codes your statements and invoices in Xero. 

  • When connecting Hubdoc and Xero your chart of accounts, bank accounts and contacts will sync across. If you have set up products and services these will also be available to code transactions with in Hubdoc.

You can invite “collaborators”, such as co-workers or accountants, to Hubdoc and give them access to your company’s financial information.  When you invite a user, you can select what the user may have access to, eg. Upload only, Standard user, Accountant / bookkeeper. Once invited Hubdoc will send an email with a link to get started. 

As with all artificial intelligence and data extraction tools, they need to learn and sometimes you want to allocate a transaction to a specific account. Once your supplier invoice has been uploaded in Hubdoc you have the opportunity to review the transaction, checking the information is correct eg. Amount, supplier name, invoice number, if there is VAT allowed on the transaction, and if the invoice has been paid or not.

At this stage you will also allocate an expense account. You can choose to allocate the invoice total as a single line item or if there are multiple lines you can code each line to a different code.  When you are done you “publish” the invoice sending the information to Xero. You can select what files sync to Xero and configure rules for each statement or supplier.

Hubdoc offers Two-step authentication to provide additional security on your account. When you create your account, you will set up your email address and password and you will be prompted to enter a verification code accessible only from your cell phone. You may already be linked to a cloud storage service, Hubdoc offers unlimited storage, and also integrates with Google Drive, Dropbox, Box, Sharefile and SmartVault.

Any questions or concerns just get in touch!