Hubdoc Reviews & Ratings 2023

what is hubdoc

Hubdoc makes it easy to keep track of your expenses and ensure that they match up with your bank statements. It has a very simple layout that is pretty easy to learn. You can start moving your documents to Hubdoc almost instantly and you will surely figure out how to use it in no time. Thus, getting set up and getting rid of your paper documents may take less time than expected. After the 14-day trial period, the price is $20 per month.

Hub doc on hunt for stealthy killer – Boston Herald

Hub doc on hunt for stealthy killer.

Posted: Wed, 16 Mar 2016 07:00:00 GMT [source]

There is also an option to assign tags for better document management. Thus, these can be tasks that can be assigned to a specific person where his access can be restricted. Once you’re all set up on Hubdoc, it’s time to say goodbye to dealing with batch payment files. Xero’s Pay with Wise integration lets you pay and reconcile multiple bills through Xero with just a few clicks. It’s a new standardised way to make bill payments regardless of your bank. Again, it’s all about taking steps to give yourself more time to focus on the stuff that matters, and less time on the admin.

Timworks and Hubdoc

Hubdoc is an online application that lets you automatically extract vital information from your receipt, invoice, or bill. You don’t have to chase documents at the end of the month, quarter, or year. All your financial documents are securely stored and managed from one place, giving your business peace of mind. Plus, you will have unlimited access to multiple collaborators.

In terms of user access, a lot of software packages offer the ability to restrict the role of other users. Since Hubdoc automatically extracts information from your receipts, invoices and bills, you no longer have to enter data manually. Instead, you can focus on other things in your business. Another benefit of using Hubdoc is that it allows you to snap a photo of the document with the app, which means you’ll never lose a receipt again. As a result, you can spend less time searching for lost receipts and more time focusing on running your business.

What is Hubdoc and How Can Businesses Benefit From It?

Sometimes Hubdoc also offers excellent pricing deals, such as 50% off the first six months for new users. The company has been working toward integrating Hubdoc and Xero so that accountants, bookkeepers, and small businesses worldwide can benefit from seamless bookkeeping. For instance, if you run several restaurants, you can add them all to Hubdoc at once. Then, you can view all of your restaurant’s financials together.

  • Once you delete a document or an account in Hubdoc, it will be lost if you haven’t downloaded it and saved it to your hard drive.
  • Once documents have been seamlessly uploaded to Hubdoc, the key data is extracted and synced to Xero as accurately coded transactions with the source documents attached.
  • Hubdoc completely re-imagines your bill payment process.
  • It is still a good idea to have backup storage when using the software.
  • Xero provides resources to help practices set up Hubdoc for their own use, and easily onboard small business clients.

It’s a secure way to digitalize your documents and be able to upload them into different softwares, including QuickBooks. This review outlines the advantages vs. the disadvantages of Hubdoc to its competitors. Get copies of documents and key data stored into Xero automatically. By automating the process of entering data, you’ll free up time to focus on what matters most – growing your business. Hubdoc helps you to stay organised by allowing you to store all of your documents in one place. So, whether you’re travelling, working from home, or just taking a break, you’ll always know where to find your documents.

Hubdoc Technical Details

Hubdoc completely re-imagines your bill payment process. Hubdoc is a fantastic tool for anyone who wants to get organised. Whether you’re looking to cut down on paperwork or want to automate your bookkeeping process, Hubdoc is the perfect solution. If you find out Hubdoc is the best option for your business, you will have to pay only $12 USD per month, which is affordable, even for startups. Using Hubdoc allows you to create professional-looking invoiced quickly.

what is hubdoc

In addition, Hubdoc saves you both time and money because you don’t have to print out duplicate copies of your documents anymore. Hubdoc is an excellent tool for anyone who wants to get organised. It allows you to extract important financial information from any document. In minutes, you can also create reports and export the data into other applications such as Xero accounting systems. Set user roles in Hubdoc so staff can complete tasks like uploading receipts without allowing them access to sensitive data and other features. Choose from user roles like upload only, standard, or accountant/bookkeeper.

Upload your documents – This is a good option if the documents are handy. You can simply drag and drop your scanned documents into your account individually, or upload them by batch. When it comes to a system for managing our documents, ideally, it should be secure and organized. We should be able to look for a document when needed, easily find what is hubdoc the one we want, and not spend so much time organizing our papers. It’s no secret that bill payments have traditionally been a slow and painful experience – a necessary evil for many business owners. A lot of people have found a way to tackle bill payments through trial and error, and would eventually find a process that kind of works.

Hubdoc, a piece of document management software, is a popular choice nowadays, especially when financial information is involved. It is true that there are other applications available that are totally free, but they can only provide some of what Hubdoc offers. One of the cloud solutions we use for ourselves and recommend to our clients is Hubdoc.

Accounting software

It’s a constant struggle for business owners to stay up to date, leaving you as the practice in the dark on your clients’ financial position. As a result, adding value as their trusted advisor can become difficult. One of the most valuable features of Hubdoc is the ability to extract information from receipts, invoices, or bills. For example, you can use Hubdoc to extract information from your credit card statements, utility bills, receipts, invoices, or bills. These documents contain valuable information that you need to keep track of.


Dividend Payout Ratio: What It Is & How To Calculate It

Note that a retained earnings appropriation does not reduce either stockholders’ equity or total retained earnings but merely earmarks (restricts) a portion of retained earnings for a specific reason. Even though some refer to retained earnings appropriations as retained earnings reserves, using the term reserves is discouraged. Retained earnings is one component of the stockholders’ equity section of a corporation’s balance sheet.

The preferred stockholders are entitled to a preferential dividend, usually at a fixed rate, and the common stockholders get a portion of what remains after payment of the dividends on preferred stock. With a stock dividend, stockholders receive additional shares of stock instead of cash. Stock dividends transfer value from Retained Earnings to the Common Stock and Paid-in Capital in Excess of Par – Common Stock accounts, which increases total paid-in capital.

  • Such items include sales revenue, cost of goods sold (COGS), depreciation, and necessary operating expenses.
  • Unlike a sole proprietor, who can take money out whenever he or she wants to, a stockholder in a corporation has to wait for the board of directors to declare and pay a dividend.
  • Next, notice Berkshire pays zero dividends and minimal deductions from the retained earnings from the previous quarter.
  • Current liability comprises debts that require repayment within one year, while long-term liabilities are liabilities whose repayment is due beyond one year.
  • Shareholders’ equity can also be calculated by taking the company’s total assets less the total liabilities.

As we can tell from this small sample size, Apple appears to continue growing its return on its retained earnings. Using the RORE offers a fun exercise to run when analyzing your company, and it is an item that I have added to my checklist. We can see how Wells Fargo intends to give back to its shareholders via dividends or buybacks.

Key Steps for Corporations to Distribute Income to Stockholders

If the company had not retained this money and instead taken an interest-bearing loan, the value generated would have been less due to the outgoing interest payment. RE offers internally generated capital to finance projects, allowing for efficient value creation by profitable companies. However, readers should note that the above calculation is indicative of the value created with respect to the use of retained earnings only, and it does not indicate the overall value created by the company. Both revenue and retained earnings are important in evaluating a company’s financial health, but they highlight different aspects of the financial picture. Revenue sits at the top of the income statement and is often referred to as the top-line number when describing a company’s financial performance. For this reason, retained earnings decrease when a company either loses money or pays dividends and increase when new profits are created.

  • For an analyst, the absolute figure of retained earnings during a particular quarter or year may not provide any meaningful insight.
  • In either case, the combination of the value of an investment in the company and the cash they hold will remain the same.
  • When a dividend is paid as cash, then the company will have less cash, reducing its value, and therefore, its value per share (theoretically).
  • A shareholder may remain indifferent to a company’s dividend policy as in the case of high dividend payments where an investor can just use the cash received to buy more shares.

Stocks that issue dividends tend to be fairly popular among investors, so many companies pride themselves on issuing consistent and increasing dividends year after year. In addition to rewarding existing shareholders, the issuing of dividends encourages new investors to purchase stock in a company that is thriving. In this example, no dividends were declared on either class of stock in year one. At the end of the period, you can calculate your final Retained Earnings balance for the balance sheet by taking the beginning period, adding any net income or net loss, and subtracting any dividends. Factors such as an increase or decrease in net income and incurrence of net loss will pave the way to either business profitability or deficit. The Retained Earnings account can be negative due to large, cumulative net losses.

Tax Advantages of a Leveraged Buyout

Earnings available for common stockholders is net after-tax profit, minus any preferred dividends. Theoretically, the remainder represents the amount of earnings that a business could pay out to the owners of its common stock. However, the reported amount of earnings may be higher than the amount of cash reserves of the business, so the firm might not actually be able to issue the indicated amount to shareholders. At the end of each accounting period, retained earnings are reported on the balance sheet as the accumulated income from the prior year (including the current year’s income), minus dividends paid to shareholders. In the next accounting cycle, the RE ending balance from the previous accounting period will now become the retained earnings beginning balance.

They represent returns on total stockholders’ equity reinvested back into the company. Dividend yield is relevant to those investors relying on their portfolios to generate predictable income. ABC company is paying 25% of its earnings out to shareholders in the form of dividends, while retaining 75% of earnings within the corporation. In February 2022, the sportswear brand announced a $0.305 per share quarterly cash dividend payable Apr. 1, 2022. For fiscal year 2021, the company saw year-over-year (YOY) increased revenues of 19.3%. Cash dividends are paid directly in money, as opposed to being paid as a stock dividend or other form of value.

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When calculating the shareholders’ equity, all the information needed is available on the balance sheet – on the assets and liabilities side. The total assets value is calculated by finding the sum of the current and non-current assets. However, they shrink a company’s shareholders’ equity and cash balance by the same amount.

What Are Retained Earnings?

Any shareholder of an S corporation who works for the entity is considered an employee. This means they receive a paycheck, withholding tax is accounted for, employment taxes are taken care of, and they receive a W-2 form. A shareholder who works for the S corp should expect to receive a reasonable compensation for the work he or she performs. The earnings per share number may also be inflated with share buybacks or other methods of changing the number of shares outstanding. Companies can do this by repurchasing shares with retained earnings or debt to make it appear as if they are generating greater profits per outstanding share.

This is especially true when dealing with companies that have been in business for many years. When earnings manipulations are revealed, the accounting crisis that follows often leaves shareholders on the hook for rapidly declining stock prices. While the corporate shareholders are taxed at the corporate rate of 21 percent, individual shareholders’ tax rate depends on whether the dividend is considered a qualified dividend. Investors seeking dividend investments have several options, including stocks, mutual funds, and exchange-traded funds (ETFs). The dividend discount model or the Gordon growth model can help choose stock investments. Dividends paid by funds, such as a bond or mutual funds, are different from dividends paid by companies.

However, dividends remain an attractive investment incentive, with additional earnings made available to shareholders. Although cash dividends are common, dividends can also be issued as shares of stock. A dividend is the distribution of a company’s earnings to its shareholders and is determined by the company’s board of directors. Dividends are often distributed quarterly and may be paid out as cash or in the form of reinvestment in additional stock.

Funds employ the principle of net asset value (NAV), which reflects the valuation of their holdings or the price of the assets that a fund has in its portfolio. Generally speaking, a company with a negative retained earnings balance would signal weakness because it indicates that the company has experienced losses in one or more previous years. However, it is more difficult to interpret a company with high retained earnings. As an investor, one would like to know much more—such as the returns that the retained earnings have generated and if they were better than any alternative investments. Additionally, investors may prefer to see larger dividends rather than significant annual increases to retained earnings. It involves paying out a nominal amount of dividends and retaining a good portion of the earnings, which offers a win-win.

In between the opening and closing balances, the current period net income/loss is added and any dividends are deducted. This helps complete the process of linking the 3 financial statements in Excel. Useful for assessing a dividend’s sustainability, the dividend payout ratio indicates what portion of its earnings a company is returning to shareholders.


QuickBooks® Online Pricing & Free Trial Official Site


The software was popular among small business owners who had no formal accounting training. As such, the software soon claimed up to 85 percent of the US small business accounting software market. It offers more integrations, as well as a much smoother integration process that allows you to access third party apps directly within QuickBooks Online without the need to sync applications or import data. QuickBooks Online offers a variety of pricing plans, which range from $12 to $75 for the first three months. QuickBooks Online supports a variety of browsers including Google Chrome, Mozilla Firefox, Microsoft Edge, as well as Safari 11 or later for Mac. The application also offers a mobile app that works with both iOS and Android devices.

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QuickBooks Resources.

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Currently, QuickBooks is offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months. To expedite product setup, you can choose to use the default chart of accounts that is included in the application. You also have the option to import products and services into the application to avoid having to re-enter the data. It also supports batch importing, to help a single user create, edit, and send multiple invoices, checks, expenses, or bills. You can also automate key accounting tasks such as setting reminders for invoices, payments, or deposits.

QuickBooks Online Pricing vs. Competitor Pricing

These prices rose slightly back in early-2023, when this plan cost just $55 per month. If you don’t need accounting just yet, our new money solution offers banking, payments, and 5.00% APY—all with no subscription or starting fees. While there are many options available, you do not need to sign up for all of the QuickBooks services all at once. You can start with a single app, such as the accounting or payroll software, and add others as you expand.


This plan is best for small businesses, whether an LLC run by just one individual or a simple partnership. It’ll help someone keep their accounting data in one place, although it doesn’t offer many bells and whistles that could be useful for a larger operation. QuickBooks Online pricing offers five main plans, plus a host of add-ons for an extra monthly charge. A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting. Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days.

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QuickBooks has also stopped allowing users to file their sales taxes online through the service. You’ll now need to file business taxes manually, and update your QuickBooks account with the information afterward. If you need a rock-solid, feature-packed accounting solution at a fair price, QuickBooks is the best.


They’ll provide guidance, answer your questions, and teach you how to do tasks in quickbooks for accountants online, so you can stay on track for tax time and run your business with confidence. As a business owner, you know how important it is to manage a regular positive cash flow. QuickBooks Payments makes it easier for you to accept online payments when you send invoices from within the app.

Bills & Expenses Tracking

QuickBooks MTD software currently supports Standard, Cash and Flat Rate schemes. QuickBooks Bridging Software supports Standard and Cash schemes. Businesses whose home currency is not GBP are currently not supported.

However, access to add-on services to the QuickBooks Desktop for Windows 2019 was discontinued after May 31, 2022. With QuickBooks, it is very simple to track time as well as billable expenses incurred by employees or subcontractors. They can either enter it themselves using the QuickBooks mobile app or submit it manually and a bookkeeper on your end can enter the details in the app. While setting up QuickBooks, you can connect your bank as well as credit card accounts to the software. Once done, QuickBooks tracks your bills and expenses automatically. All these apps integrate seamlessly with each other and QuickBooks accounting software, thus building a well-rounded accounting and payments ecosystem for your small and mid-sized business.


The Difference Between Fixed Cost, Total Fixed Cost, and Variable Cost

Finally, any cash paid for the expenses of fixed costs is shown on the cash flow statement. In general, the opportunity to lower fixed costs can benefit a company’s bottom line by reducing expenses and increasing profit. These bills don’t have to occur monthly to be considered fixed expenses. For instance, let’s say you have a life insurance payment that you make quarterly. Categorizing them helps businesses make informed decisions about budgeting and forecasting. These expenses give financial planning stability and predictability.

  • Living your budget may mean rethinking wants versus needs to avoid overspending.
  • Managing fixed expenses requires careful planning and assessing costs to maintain financial health in a changing business landscape.
  • Your health insurance, car insurance, life insurance, and homeowners or renters insurance are also examples of fixed costs.
  • The best way to manage your money is by coming up with a monthly budget.

For instance, if you get sick, then a doctor visit may be a necessity that you need to cover. On the other hand, a discretionary expense means anything you budget money for or spend money on that you don’t necessarily need. A fixed expense is an expense that does not change from month to month. All sunk costs are fixed costs in financial accounting, but not all fixed costs are considered to be sunk. The defining characteristic of sunk costs is that they cannot be recovered.

How Does a Fixed Expense Work?

Another example of a variable expense is a metered service, with fees which vary depending on how much of the service is used. These expenses are less predictable in nature, and they may occur at variable intervals. Furthermore, understanding fixed expenses aids in finding chances to save money. By analyzing these regular costs, people and companies can see if they can make better deals with suppliers or get alternatives at lower prices. This knowledge lets them make informed decisions that bring significant savings in the long run.

  • As prices for equipment and supplies rise, you’ll want to protect your business against inflation.
  • Fixed expenses are simple to spot once you know what to look for.
  • Fixed expenses are regularly occurring costs that generally don’t change in dollar amount.
  • I’m a freelance financial journalist and a regular contributor to U.S.
  • Fixed costs only remain unchanged over a certain range of production volumes.

Additionally, shop around for alternative car insurance, health insurance, life insurance and homeowners or renters insurance plans to save more money. If you’re interested in cutting costs but can’t cut back on materials and labor without sacrificing quality, it’s time to look for ways to reduce fixed costs. A fixed cost is an expense that a company is obligated to pay, and it is usually time-related.

Most families, for example, spend variable amounts of money on groceries each month. In addition, you’re likely to spend different amounts each month on putting gasoline in your car and paying for necessary car repairs and maintenance. Daphne Foreman is a former Banking and Personal Finance Analyst for Forbes Advisor.

Thus, in a relevant range of operations the set costs stay the same. Check this out – utility costs vary depending on where you live, how much you use, and what your provider charges. When production increases far enough, such types of costs must be increased. For example, additional machinery may need to be purchased to add production capacity.

How much are you saving for retirement each month?

For example, you could have a groceries category, a utilities category and a travel expenses category. Next, see how much you spent on these categories during the previous year and divide that number by 12. You can then set aside that amount each month for each variable expense. If you want, you could even open separate savings accounts for each variable expense category.

You should continuously review your balance sheets, income statements and other business financial statements to make any necessary adjustments. Understanding how these costs work will help you figure out what’s best for your company at all times. Budget your fixed expenses first, because they make up the majority of your budget and are usually set for longer periods of time. Your variable expenses fluctuate monthly and are easy to adjust as you go, so it’s easier to plan these around your fixed expenses. If you’re like most people, your budget is comprised of both fixed and variable expenses. Understanding the difference between fixed and variable expenses can help you with budgeting, setting financial goals, and a lot more.

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Fixed expenses can be used to calculate several key metrics, including a company’s breakeven point and operating leverage. If you online bank and use your debit card a lot many online banks are now offering free software that will show you what you spend and what percentage of you money it takes up. To enhance your analysis, make detailed records for each expense category so you can easily refer back to them. Fixed expenses are like a bad ex, they never change and always leave you broke.

What Is a Fixed Expense?

Once you have these figures laid out you may be surprised to see how much you are spending. Luckily, you can figure out what things can be lowered to fit your new budget. Doing something like switching to a cheaper Internet package, or shopping for lower interest on your loans can help quite a bit.

To sum up, understanding fixed expenses is essential for successful financial management. It allows people and businesses to budget accurately, find ways to save money, and prevent financial problems. By managing fixed expenses with careful analysis and planning, one can gain more stability and success in their financial endeavors. Total costs are composed of both total fixed costs and total variable costs. Total fixed costs are the sum of all consistent, non-variable expenses a company must pay.

The upside of having variable expenses in your budget is that you have more control over them than you do with fixed expenses. Fixed costs are expenses that a company pays that do not change with production levels. Unlike fixed costs, variable costs (e.g., shipping) change based on the production levels of a company. Since fixed costs are not related to a company’s production of any goods or services, they are generally indirect.