Streamlining Your Bill Management with Hubdoc and Xero

Managing bills can be one of the most time-consuming tasks for business owners. With various invoices coming in from different suppliers, it's easy to lose track and miss important deadlines. However, the combination of Hubdoc and Xero offers a seamless solution for handling receipts, invoices, and bills more efficiently.

Here’s how using Hubdoc alongside Xero can simplify your bill management process and save you time:

Benefits of Using Hubdoc with Xero for Bills

1. Automatic Data Extraction: Hubdoc automatically extracts key information from invoices and receipts, reducing the need for manual data entry. This saves time and minimizes the risk of errors.

2. Cloud-Based Access: With both Hubdoc and Xero being cloud-based, you can access your documents and data from anywhere, at any time. This means no more sifting through paper receipts or relying on a physical filing system.

3. Improved Accuracy: Hubdoc’s optical character recognition (OCR) technology captures important details like supplier names, dates, amounts, and tax information. Once the data is extracted, it’s directly imported into Xero, ensuring greater accuracy when creating bills.

4. Faster Approvals and Payments: Once your bills are created in Xero, the approval workflow is simplified. You can easily track the status of bills and get them approved faster, allowing you to stay on top of your payments and avoid late fees.

5. Efficient Collaboration: If you work with a team or accountant, Hubdoc and Xero make it easy to share documents, approve bills, and collaborate in real time without the back-and-forth of email attachments or paper trails.

   
   

How to Upload a Receipt to Hubdoc and Get It Into Xero

The process of uploading a receipt to Hubdoc and having it flow smoothly into Xero is straightforward. Here’s a step-by-step guide:

Step 1: Upload Your Receipt to Hubdoc

• Scan or Snap a Photo: Using the Hubdoc app (available for both iOS and Android), take a photo of your receipt or invoice. Alternatively, you can upload the file directly from your computer or email it to your Hubdoc account.

• Automatic Data Capture: Hubdoc will scan the document and automatically extract the key details, including supplier information, amounts, dates, and taxes.

Step 2: Review and Confirm the Data

• Once the document is uploaded, Hubdoc will display the extracted information. It’s important to double-check the data to ensure it’s accurate.

• If something is incorrect or missing, you can manually edit the information in Hubdoc.

Step 3: Push the Document to Xero

• Connect to Xero: If you haven't already, link your Hubdoc account to Xero by following the prompts in the Hubdoc app. This allows the two platforms to sync seamlessly.

• Create a Draft Bill: Once the document’s data is accurate, you can push it over to Xero. Hubdoc will automatically create a draft bill in Xero using the extracted information.

Step 4: Review the Draft Bill in Xero

• Open Xero and navigate to the Bills to Pay section. You’ll see the draft bill created by Hubdoc.

• Review the details. You can make any necessary adjustments, such as confirming account coding, adding payment terms, or adjusting the tax rate.

Step 5: Approve the Bill in Xero

• After reviewing the draft bill, you can approve it for payment. Depending on your approval workflow settings in Xero, this might require managerial approval before it’s finalised.

Step 6: Make the Payment

• Once the bill is approved, you can pay it directly from Xero, or export the payment details to your bank for processing. The bill will be marked as Paid in Xero once the payment is confirmed.

Step 7: Track and Store

• Xero will automatically store the details of the paid bill, along with a link to the original receipt in Hubdoc, for easy reference and future auditing. You can also track the status of any unpaid bills in real time.

  
  

Key Takeaways

Using Hubdoc with Xero streamlines the entire bill management process. From uploading receipts to approving bills, Hubdoc makes it easier to extract and verify invoice data, while Xero handles the payment and financial reporting side. By eliminating manual data entry and reducing the risk of errors, your business can enjoy a faster, more efficient way to manage bills and payments, allowing you to focus on other important areas of your business.

The integration between Hubdoc and Xero saves time, increases accuracy, and simplifies collaboration, making it an invaluable tool for businesses of all sizes. If you're looking for a way to make your bill management process more efficient, integrating Hubdoc with Xero is a step in the right direction.

Streamline your bills process in Xero