Technology can seem to make some tasks more difficult despite being introduced to save time. These four easy Hubdoc Tips will help you streamline your digital record-keeping and get the technology working for you. 

Hubdoc is Xero’s data capture tool that extracts key data (including VAT figures) from receipts and invoices, and then creates transactions in Xero ready for us as Accountants to reconcile. We use Hubdoc at EOG Accounting in our Purchase Ledger Service as it integrates seamlessly with Xero, and offers our customers a wide range of ways to upload documents. Scrub up on your Hubdoc knowledge here.

So why do you need to streamline your record-keeping?

Introducing an efficient record-keeping system can save you more than just time; A poor system can lead to missing reclaimable VAT, costing your business money in each of your VAT Returns. Over time this can result in thousands of pounds in lost VAT.

Here’s HMRC’s guidance on what records you need to keep for VAT.

So before we get into the tips make sure you receive an invoice/receipt for every payment you make…. A VAT-registered supplier is obliged to provide a VAT invoice within 30 days of the supply.

The Tips…

1. Systemise how you gather and temporarily store your invoices and receipts 

If you only use one of these Hubdoc tips, make sure it’s this one!

No matter how many methods you use to quickly get different document types or formats into Hubdoc unless you have a system that ensures everything is provided to us/your accountant on an ongoing basis, you’ll inevitably be chasing odd invoices from suppliers or scouring your e-mail inbox, workplace, or back of the settee for that receipt you know you’ve seen somewhere!  

The System

A designated folder for items that have been uploaded and a separate folder for items that are yet to be uploaded both digitally, and physically is the most straightforward way of keeping things tidy. 

Set up two folders in your e-mail inbox and have two folders in your office. This will let you keep track of exactly what has been uploaded and what hasn’t. It works great if you receive either a physical or email copy of all purchases – you’ll only ever have 4 places to look for a document. 

Call them:

• Digital Hubdoc NOT Uploaded 
• Digital Hubdoc Uploaded 
• Physical Hubdoc NOT Uploaded 
• Physical Hubdoc Uploaded 

This will eliminate time spent looking for odd documents, responding to our/your accountant’s queries, and could ultimately result in VAT savings. 

Guidance for creating folders in your e-mail inbox: Outlook and Gmail

2. Email forwarding

Email forwarding can be an effective way of letting technology do the heavy lifting with regards to getting your invoices/receipts into Hubdoc.  

If a regular supplier emails your invoices with a specific word in the subject, or from a specific email address such as sales@supplier.com or invoicing@supplier.com, most email account services will let you set up rules.  

Rules to send the emails with receipts/invoices to Hubdoc 

You can also automatically forward the email to a given email address, i.e., your designated Hubdoc inbox. Some suppliers may even allow you to provide them with an email address that will automatically receive all invoices – skipping the setup of the rule. 

Your Hubdoc address is shown at the bottom of the box that appears when you press the ‘Upload Documents’ button. The initial setup is for this quick, but you may want to give us a call if you have any difficulties with it. It’s worth it once it’s up and running! 

Guidance for automatic forwarding: Outlook and Gmail

Rules to move the emails with receipts/invoices to a folder 

You can automatically send emails that match the rules to a folder (such as one of the ones suggested above –Digital Hubdoc Uploaded) in your inbox.  

3. Bulk Download and Upload

Most suppliers are now developing online accounts for their customers to manage orders and payments. Builders Merchants, Food Suppliers, Amazon and many others give users the ability to log in and download their documents for a period. 

Be careful here to avoid downloading duplicate or missing data; make sure you select the correct period. 

Once you download the documents, you will usually need to click ‘extract all’ on any zip files as they are not supported by Hubdoc. 

You can then drag and drop all downloaded files from the period into your Hubdoc upload screen.

4. Use your mobile phone (with a twist)

Most Hubdoc users will already be familiar with uploading documents by taking photos in the app, however, logging in to Hubdoc in your mobile browser can give you even more options. By logging in online you can select photos or screenshots in bulk from your camera roll, this can be quicker than taking photos one by one within the app in some cases. Our suggestion is to: 

1. Create an album on your phone for the current period (month/quarter) and label it as such. Populate the album with your photos and screenshots of your receipts/invoices. (We strongly recommend that the album is backed up to the cloud)
2. Log in to Hubdoc in your preferred browser on your mobile
3. Click upload document 
4. Select the browse option
5. Select Camera roll
6. Choose the correct album and drag across all the photos to select and add from the album to Hubdoc. 

These albums can then be used in the same manner as the folders mentioned in ‘Tip 1’ 

Note: While this is a great trick for those who order items on their phone, it is imperative that screenshots are clear and whole, and are of VAT invoices, not of order confirmations and so on, otherwise you’ll find yourself digging for the VAT invoices shortly after the period end! 

Implementing these Hubdoc tips into your, daily, weekly, monthly, or quarterly Hubdoc routine will save you time, and ensure that all the necessary data is captured to reclaim as much VAT as allowable. 

To Recap

1. Make sure you gather a receipt/invoice for every purchase that you make
2. Get a system in place to ensure you know what has and what has not been loaded into Hubdoc
3. Use e-mail forwarding to save time
4. Use bulk downloads and uploads to gather receipts/invoices all in one go
5. Try using your mobile in browser mode (as appose to the app) to bulk upload pictures from your phone

We’re happy to discuss helping you implement or to demonstrate any of the below suggestions. Just reach out to your bookkeeping point of contact when you’re ready.  

andrewthomas@edwardsofgwynedd.com

This information is subject to change and is not professional advice. Refer to our disclaimer for more details.