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.
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!
These are the features that Hubdoc promotes:
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.
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.
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