𝐇𝐮𝐛𝐝𝐨𝐜 & 𝐃𝐞𝐱𝐭

How good are electronic receipts?  Being able to quickly take a picture of your receipt at the coffee shop or at the petrol station, you have done your filing.  It really changed the way I ran my business and I have been encouraging as many clients as possible to do the same. 

The two systems we use are Dext and Hubdoc.  Both allow you to take photos and upload them directly to the application.  Once the data is imported, both systems use OCR to extract the data from the receipt and use this to pre-populate the fields needed for data entry and bookkeeping.  It’s best to review the extracted information, as it’s not always perfect. 

Both systems work with the major small business bookkeeping systems, ie Xero, Quickbooks Online and MYOB.  Once you have reviewed the receipt in Dext or Hubdoc, you publish it to your bookkeeping system.  In your bookkeeping system, you simply match the bank transaction to the receipt.  As an accountant, I love having quick access to further information on clients' expenses.

Dext, I believe is a superior product.  However, Xero acquired Hubdoc a couple of years ago and now offers Hubdoc as part of their normal subscription pricing.  It’s hard to beat a free upgrade that Xero offers.

Do you have a preference?