Learning QuickBooks® Online | Focus on Bookkeeping Workflow

Hubdoc vs. LedgerDocs Features

by L. Kenway BComm CPB

Document Management Software Solutions That Integrate with QuickBooks OnlineCompare Hubdoc and LedgerDocs Features

Today I'm going to compare two Canadian document management apps - Hubdoc and LedgerDocs features. There are just so many document management options out there now but these two are popular in Canada.

Document management apps help you go paperless and (semi) automate some of the bookkeeping functions allowing you to work virtually and spend more time reviewing your clients' data.

Document management apps allow businesses to securely share files with your bookkeeper or accountant.

Compare Hubdoc and LedgerDocs Features

Feature

Developer 

City

2 Factor Identification

User Friendly

QBO Integration

Audit Ready

Workflow Flexibility





Invite users

Unique email address for uploading




Mobile App

DropBox & Scansnap Integration


Inbox



Fetching


Fetching Limits


Fetching Schedules


Initial Fetch

Hubdoc

Canadian

Toronto

Yes

Yes

Yes

Pushes and attaches document to transaction in QBO

Hubdoc sets structure and workflow




Yes

Yes-must add #Notes to email to capture client notes




Yes can tag but cannot add notes

Can upload documents from Scansnap; Will download documents to DropBox manually or automatically

No-uses various horizontal tabs making it difficult to find things at times; I often "lost" documents

Yes-Fetches a wide range of bank and vendor statements; connections often break

Unlimited


Preset; scrapes everything from an institution but you can hide accounts you don't want to see

Fetches back as far as is available*

LedgerDocs

Canadian

Vancouver

No

Yes

Yes

Pushes and attaches document to transaction in QBO

Flexible-you can customize the filing cabinet; also has a Private area for storing sensitive information which is important if employees have access

Yes with no access to Private Folder area

Yes-content of email is placed in Notes area making it easy to copy and paste information when entering data


Yes can add notes and tags to documents

Can upload documents from DropBox or Scansnap


Yes-everything goes to the inbox


Yes-major Canadian bank and credit unions

Standard packages limited to 5 pulls per company per month

You select which accounts to pull and what day of the month you want each statement fetched

Only fetches current statements

* I would like it if you could request the start date of the fetch. Not all clients are behind on their paperwork.

Dashboard



Document Requests



Data Entry Box




QBO Memo Area





Push Customer Invoices to QBO


Push Supplier Bills and Receipts to QBO

Multi-currency**





No



No



Right hand side- have to scroll up and down to see entire contents if publishing to QBO


Hubdoc puts their name with  a reference to the invoice number making reading the G/L useless as you always have to drill  down to get more details about the entry

No


Yes-my pet peeve is Hubdoc calls bills invoices

Yes-must manually edit exchange rate in QBO as it pushes through at 1:1



Shows latest uploads and notes; Followup with companies who have not sent documents

Can schedule recurring or one-time document request to avoid late document retrieval

At the bottom-I would prefer it at the top so it is eye level to reduce the tendency to hunch over the key board as the day progresses

Left blank or you add the description in LedgerDocs when processing making it easy to review and read the G/L


Yes-must receive customer payments in QBO or let QBO bank feed find a match

Yes

Yes-must manually edit exchange rate in QBO as it pushes through at 1:1; currently it will not push USD bills to QBO but does push USD receipts

** ReceiptBank pushes / publishes an exchange rate to QBO so it is possible to do

Canadian Sales Tax



Error Message






File Renaming


Sorting

Searching


OCR




Pricing




Yes-I ran into trouble too often so generally just pushed document to QBO and corrected sales tax directly in QBO

Good and relevant to problem encountered





No predetermined


No-predetermined by Hubdoc

Just introduced a search feature in September 2018; don't know how robust it is

Yes but many documents "fail" and must be entered manually



Billed in CAD; $25 per month per company; affordable fixed pricing for unlimited users and transactions

Yes-it handles sales really well; choose inclusive or exclusive tax when entering of data; no problem handling PST

Messages are often too general or not related to actual problem; after awhile you start to have an idea where to look for the problem; typing problem into the chat screen gets support assistance quickly

Yes-LedgerDocs also suggests a file name after you have posted a transaction to QBO

Yes-Oldest to Newest, Newest to Oldest, A to Z, Z to A

Yes very powerful; searches include notes and even finds duplicate document!

No but repopulates last data entry for a customer or supplier to data entry is reduced over time; partial OCR is in the works

Billed in CAD; $10-$14 per month per company depending on plan; bank fetching charges are extra; unlimited users

QuickBooks Online is terrific for service-based businesses. One of QBO's features is it integrates with apps. Selecting the right app for your situation ensures the app actually increase your productivity and don't eat away your bottom line. Document management software such as Hubdoc | LedgerDocs features help improve your efficiency. 


If getting documents from your clients is your pain point ...
If you need a cost effective solution ...

TAKE A DOCUMENT MANAGEMENT APP FOR A TEST DRIVE

Hubdoc - LedgerDocs Features Summary

I've used both of these apps. The one that is best suited for you will depend on your individual circumstances and the workflow you have designed.

I switched everything to LedgerDocs in September 2018 because I preferred the LedgerDocs workflow over Hubdocs ... but I gave up OCR (which had a high failure rate for many of my clients' documents) and fetching of some bank and credit card statements as well as utility and supplier statements.

ReceiptBank Extraction subscription tier has vendor and PayPal fetching; their Streamline subscription tier will have (maybe already does) include bank fetching.

If you want to work virtually and be paperless, document management software should be part of your bookkeeping workflow. Compare Hubdoc and LedgerDocs features to see which app is better suited to your specific needs.




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Hubdoc is a trademark of Hubdoc Inc. Screen shots © Hubdoc Inc. All rights reserved.

LedgerDocs is a trademark of LedgersOnline Inc. Screen shots © LedgersOnline Inc. All rights reserved.

Plooto is a trademark of Plooto Inc. Screen shots © Plooto Inc. All rights reserved.

LedgerSync is a trademark of LedgerSync, LLC. Screen shots © LedgerSync, LLC. All rights reserved.



Comparison of Hubdoc and LedgerDocs Features

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