As extra nations around the globe embrace open banking fashions, banks and on-line suppliers are realising the advantages of building APIs with expertise suppliers like Hubdoc. These connections enable us to work straight along with your provider (direct fetch connections), moderately than depend on expertise that logs into provider portals and imports paperwork in your behalf (normal fetch connections).
Transferring in the direction of direct connections
Utilizing normal fetch connections to robotically import payments, invoices and financial institution statements into Xero (or different accounting software program) has historically been a well-liked characteristic in Hubdoc. Nevertheless, as expertise and trade requirements evolve, these connections have develop into outdated and are sometimes blocked by banks and on-line suppliers.
In consequence, the efficiency has declined to some extent the place it not meets the wants of Xero or our clients. That’s why we’ve made the troublesome resolution to retire normal fetch connections on 27 April 2022 (28 April 2022 in Australia and New Zealand). We’ll be switching off the flexibility to arrange new normal fetch connections on 31 January 2022 (1 February 2022 in Australia and New Zealand).
We all know that eradicating this performance out of your workflow can be an inconvenience. However our rising Hubdoc group is working arduous to determine extra direct fetch connections with banks and on-line suppliers around the globe. Presently, we now have APIs with Financial institution of America, Wells Fargo and Stripe, and these will proceed to function.
Learn how to import paperwork into Hubdoc
There are a selection of the way you’ll be able to import invoices, payments and financial institution statements into Hubdoc. A method is to arrange an auto-forward e mail rule on statements, so they’re despatched to Hubdoc with none guide knowledge entry. You can even select to obtain, scan or take a photograph of the doc after which add it into Hubdoc.
One other strategy to obtain invoices into Xero with out guide knowledge entry is through e-invoicing. That is at the moment accessible for Xero clients in Australia, New Zealand and Singapore and lets you electronically change invoices between accounting software program programs. The community remains to be rising, however you’ll be able to register to obtain e-invoices in Xero, so when your suppliers begin utilizing them you’ll be prepared.
Our continued funding in Hubdoc
Rising our direct fetch connections to banks and on-line suppliers is only one manner we’re dedicated to offering you with higher worth in the long run. Our Hubdoc group has grown 40% over the previous 12 months, they usually’ve labored arduous to assist vital work like bettering stability and infrastructure, upgrading safety, and growing knowledge automation.
We’ve additionally launched a lot of options throughout this time that you simply’ve requested, together with duplicate doc detection, default due dates, elevated doc consumption, and hyperlink to Xero. This work goes to ramp up in 2022, as we rent new groups to concentrate on upgrading our expertise, bettering your workflows and making the cell expertise higher than ever.
At Xero, we’ll at all times advocate for small companies to have possession of their knowledge, so it may be used to create efficiencies of their enterprise. And whereas we don’t know what the long run could convey, we’ll proceed to work intently with the banking trade to develop options that automate knowledge entry and make life simpler for you.