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It almost seemed like Xero was giving you $27.50 of extra value when they announced their $2 per month increase last week. These effects take effect on 18 March 2020 but not everyone wants Hubdoc and competitors like QuickBooks already offered similar functionality!
Xero has had a love/hate relationship with bookkeepers ever since the days when they promoted their accounting software as so easy that small business owners could use it themselves – without the cost of a bookkeeper – and it looks like they are well on their way with this mission.
What they are promoting is that
“you’ll be able to automate pesky admin tasks and say goodbye to manual data entry”.
Xero acquired Canadian company Hubdoc in 2018 and will be including Hubdoc’s data capture technology as part of the accounting software features. Hubdoc, which has a retail price of $27.50 a month, will be included in Starter, Standard and Premium plans.
Receipt Capture and Data Entry is Not New
I’ve written about Receipt Scanning and automated data entry of accounting transactions many times in the past. I’ve also had the pleasure of meeting the dynamic team of the popular competitor to Hubdocs, Receipt Bank, who have been very aggressive in their marketing since they opened up in Australian.
The other competitor to Hubdoc is AutoEntry and it seems that most bookkeepers and BAS agents I’ve spoken to are divided between the Receipt Bank model vs the AutoEntry pricing models.
I heard that Xero approached Receipt Bank to purchase them and can now see why Receipt Bank have been so aggressive in their brand building in the last 12 months!
Data Entry Features of Hubdoc
These are the features that Hubdoc promotes:
- capture bills and receipts – Hubdoc helps you upload bills and receipts using your desktop, m obile device, email or scanner.
- data entry – Once documents are uploaded to Hubdoc, the key data is automatically extracted and synced to Xero as accurately coded transactions.
- one-click bank reconciliation – Xero then matches these transactions to the bank feed for one-click reconciliation.
The Xero accounting goal here is to help business go paperless and have all your documents searchable and easy to access from anywhere in the world.
Data Entry and Accounts Payable Courses for Jobs
Mums returning to the workforce, International immigrants and ex-corporate accounting staff are some of the students who learn how to use popular accounting software programs like Xero, MYOB and QuickBooks to perform data entry jobs for local businesses.
Office admin staff perform lots of other tasks that fall under the category of data entry but this integration of data entry and receipt scanning features by Xero will definitely affect these accounting jobs.
See which Accounting, Office Admin, Data Entry & Credit Management Courses are available for $20 per week
We’ve expanded the number of online training courses which are now available to help students learn skills to get jobs. These courses include skills using Microsoft Word and Excel, MYOB AccountRight & MYOB Essentials, Xero Accounting and QuickBooks Online.
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