It will also fetch bank and credit card statements automatically so you’re not chasing them down at year-end to give to your accountant. What makes Hubdoc extra special is that it will send your receipts and documents to Xero to be matched to bank transactions, which audit-proofs your books. Hubdoc will organize your documents, store them safely and give secure access to your bookkeeper and accountant. Snap pics of receipts from your phone and forward emailed invoices to your account. Hubdoc is an app you can use to collect digital copies of receipts and invoices all in one safe place. Included in your Xero account is a Hubdoc subscription. If you send bills and receipts to Hubdoc, then Xero will match payments to the receipt or invoice. Xero will intuitively match bank deposits with invoices. Once you connect your business bank and credit card accounts to Xero, your transactions are available to reconcile to the appropriate account. Categorize your transactions every day, and you’re able to understand how your business is performing in real time.
Xero accounting software 2020 software#
One of the biggest benefits of cloud-accounting software like Xero is the connection to your bank: your transactions are imported automatically to Xero daily. Let’s dive into what Xero’s Starter package offers. We feel this is the best accounting software package available in Canada for sole proprietors and small businesses that don’t have a ton of monthly expenses (under $10k/month), and send 20 invoices or less per month. At just $15 CAD/month, this package is affordable and takes care of your bookkeeping heavy lifting: send invoices on the go, import bank transactions in real time, and manage your receipts and paperwork with Hubdoc. On November 9, they’re launching a new starter plan that’s tailor-made for consultants, freelancers and small businesses. We’ve always been fans of Xero’s accounting software.