Cloud accounting technology has opened up a world of opportunities for advisers, enabling them to access the tools they need to build their dream practice.
However, despite the benefits created by the cloud – from working remotely to improving client communication and beyond – many firms still struggle to nail down some of their core bookkeeping processes. As a result, advisers are spending hours on client bills and expenses each week.
Hubdoc is here to help. By automating data capture, this intuitive Xero product streamlines the entire bookkeeping process, allowing accounting and bookkeeping practices to save time and get the data they need to help their small business clients reach their goals.
Building to scale with Hubdoc and Xero
Xero acquired Hubdoc in August 2018 to offer a simple solution for their accounting and bookkeeping partners who were spending hours of their time doing manual data entry and chasing after client documents.
With Hubdoc’s seamless integration into Xero, the entire process is now streamlined, saving plenty of time and effort.
Hubdoc provides clients with the tools to easily upload their bills and receipts via a mobile app, email, scanner or desktop computer. Once uploaded, Hubdoc then files each document automatically by supplier and date.
Each document then goes through Hubdoc’s machine learning-powered data extraction process and is pre-coded, ready for review and publishing to Xero. In Xero, Hubdoc transactions are matched to the corresponding transaction in the bank feed, with the source document attached.
Thousands of accounting and bookkeeping practices around the world use Hubdoc and Xero to save time, scale their practice, and build deeper relationships with the small businesses they serve.
The possibilities are global
Picture: Meryl Johnston CA.
Meryl Johnston CA, founder of Australian bookkeeping firm Bean Ninjas, had always strived to create a global bookkeeping practice complete with flexible working conditions for the entire team.
Before launching Bean Ninjas in 2015 (from her kitchen table on Queensland’s Gold Coast), Johnston noted that finance and accounting teams often consisted of several people, with each responsible for one specific area, from accounts receivable to payroll. If this way of working was to prove successful, it was clear that collaboration needed to be baked into their processes.
“To effectively complete a variety of tasks and processes with so many different people involved, a business needs cloud tools,” she explains.
“People need the ability to work on client files at any time, from any place. Unless you have real-time access to what your teammates are doing, it’s difficult to do this well. My goal was to build a business around this reality.”
From the start, Bean Ninjas used Xero so staff could work on client files from any location. “Our goal from day one was to scale a team and have it be location independent,” notes Johnston. “We built the business with that in mind, which made Xero the Bean Ninjas foundation.”
When the Bean Ninjas team implemented Hubdoc into their workflow, it enhanced their ability to work remotely, thanks to its seamless integration with Xero (as well as making data capture quick and easy).
“When it came time to hire and grow, we were able to seek the best people for the job, anywhere in the world. It didn’t matter where they were located, because we baked in the capability to work from anywhere.”
The results are clear: Johnston and her team are no longer limited to their geographic location. In four short years, Bean Ninjas has expanded to have clients across the globe, all the while increasing efficiency and saving time.
“Hubdoc provides time savings we weren’t previously experiencing. From a team perspective, each staff member can manage more clients because they are saving time and getting data from receipts.”
“Hubdoc provides time savings we weren’t previously experiencing… each staff member can manage more clients because they are saving time and getting data from receipts.”
Grow your practice with seamless bookkeeping
Whether you’re part of a bookkeeping firm or an accounting practice that offers bookkeeping services, automating the repetitive processes that you labour over every day will make it easier to scale your practice and better serve your clients.
With tools such as Hubdoc and Xero, bookkeeping has never been so easy. Get started today.