Dealing with the month-end close can be a real headache for any business owner.
Are you tired of endless spreadsheets and chasing down receipts?
That’s where technology comes in.
You might have heard of tools like Easy Month End and Hubdoc.
In this post, we’ll compare Easy Month End vs Hubdoc, examining their offerings to help you decide which is best for you.
Overview
We’ve put both Easy Month End and Hubdoc through their paces.
Testing their features, ease of use, and overall effectiveness in managing accounting tasks.
Our hands-on experience and deep dive into their functionalities have led us to this direct comparison.
This Easy month-end, join 1,257 users who saved an average of 3.5 hours and reduced errors by 15%. Start your free trial!
Pricing: It has a free trial. The premium plan starts at $45/month.
Key Features:
- Automated Reconciliation
- Streamlined Workflows
- User-Friendly Interface
Save time with Hubdoc! Users typically save 4 hours a week on data entry. Plus, Hubdoc auto-organizes 99% of docs.
Pricing: It has a free trial. The premium plan starts at $12/month.
Key Features:
- Automated Document Fetching
- Data Extraction
- Direct Accounting Integration
What is Easy Month End?
Let’s talk about Easy Month End.
It’s a tool designed to simplify your accounting life.
Think of it as your digital assistant for closing your books each month.
Also, explore our favorite Easy Month End alternatives…
Our Take
Elevate financial accuracy with Easy Month End. Leverage automated reconciliation and audit-ready reporting. Schedule a personalized demo to streamline your month-end process.
Key Benefits
- Automated reconciliation workflows
- Task management and tracking
- Variance analysis
- Document management
- Collaboration tools
Pricing
- Starter: $24/month.
- Small: $45/month.
- Company: $89/month.
- Enterprise: Custom Pricing.
Pros
Cons
What is Hubdoc?
Now, let’s chat about Hubdoc.
This tool organizes your financial documents automatically.
It grabs bills and receipts for you—it’s like having a digital assistant that collects all your paperwork.
Also, explore our favorite Hubdoc alternatives…
Key Benefits
Hubdoc’s main strength is its focus on document automation.
- 99% accuracy: Hubdoc uses OCR to ensure data is captured correctly.
- Audit-proof storage: It stores documents securely, so you never lose a file again.
- Saves 10 hours monthly: Users report significant time savings by eliminating manual entry.
- Automated supplier fetching.
- Mobile photo capture.
- Seamless Xero integration.
Pricing
- Hubdoc price: $12/month.
Pros
Cons
Feature Comparison
These two tools offer very different pathways to a smoother month-end close.
Let’s break down nine key features to see which platform better suits the current and future needs of your finance team.
1. Workflow Management and Checklists
- Easy Month End:Â Provides comprehensive workflow management with step-by-step checklists for the entire month-end process and even quarter-end. This structure helps your finance team stay organized and reduces ad hoc chaos.
- Hubdoc: Does not provide month-end workflow management. Its workflow is focused solely on the process of capturing and publishing documents into your accounting software.
2. Balance Sheet Reconciliations
- Easy Month End: Purpose-built for faster balance sheet reconciliations. It gives you a dedicated space to manage all your reconciliations with supporting documents and required sign-offs, replacing risky spreadsheets.
- Hubdoc:Â Assists in the reconciliation process by ensuring all bank transactions, bills, and receipts have source documents attached in your QuickBooks Online or Xero users’ environment. It does not perform the reconciliation itself.
3. Team Collaboration
- Easy Month End: This is a single platform for team collaboration on close tasks. The finance team can assign tasks, set deadlines, and leave comments directly on items, improving efficiency and accountability.
- Hubdoc: Collaboration revolves around shared document access. Multiple team members can upload documents, but it lacks the task assignment, review, and sign offs functionality needed for finance team tasks.
4. Audit Evidence and Compliance
- Easy Month End: Creates a robust audit evidence trail with historical data, preparer and reviewer sign-offs, and task logs. This makes it easier to collect audit evidence and prepares you for tax time.
- Hubdoc: Collect audit evidence by automatically attaching source documents (bills, receipts, bank statements) to transactions in your accounting platform, providing a strong, digital paper trail for audit purposes.
5. Document and Data Capture
- Easy Month End: Not a primary data capture tool. You upload or import the necessary documents and files required for your month-end close process and reconciliation steps.
- Hubdoc: Excels here. It automates data entry by extracting information from documents and can auto-fetch bank statements, saving the finance team a significant amount of valuable time.
6. Scope of Use
- Easy Month End: A niche tool dedicated to the financial close. Its main goal is to help you handle month-end and improve internal control. It does not send invoices or pay bills.
- Hubdoc: A dedicated document management and data capture tool. Its use is general—any documents needed for business accounting can be processed, making it a powerful component of small business accounting.
7. Visibility and Tracking
- Easy Month End: Offers real-time data visibility into the progress of the entire close. The dashboard shows what’s complete, what’s outstanding, and who is responsible, giving the full picture to the whole finance team.
- Hubdoc: Provides visibility into the status of documents—whether they have been reviewed and published. It helps ensure the underlying financial data is ready, but it doesn’t track the overall month-end process.
8. Ad Hoc and Daily Task Management
- Easy Month End: Has the ability to manage tasks beyond the close, including ad hoc and daily repeating tasks. This allows the finance team to manage all their recurring workflows in a single platform.
- Hubdoc: Its utility is naturally daily and ad hoc, as documents and receipts are uploaded constantly. This makes it part of the ongoing bookkeeping and business operations throughout the month.
9. Efficiency and Time Savings
- Easy Month End: Creates a more efficient finance team by eliminating the hassle of manual tracking and manual confirmations. It helps achieve faster balance sheet reconciliations and a smoother month-end close.
- Hubdoc: Saves less time during the final close but spends significant valuable time throughout the month by eliminating manual data capture and reducing errors and delays in bookkeeping tasks.
What to Look for When Choosing Accounting Software?
Here are key insights to help a small business owner choose the best accounting software or tool:
- Core Functionality: Does the tool help run your business by handling accounts receivable, sales tax, and tracking expenses?
- Automation: Look for tools that automate tasks to save time on bookkeeper and accountant work.
- Accessibility: Is it online accounting (cloud) or self-hosted (on-premises)? Check for a strong mobile app.
- Integrations: Can it connect with third-party apps, other business apps, and your existing bank accounts?
- Pricing & Value: Review the billing period, starter plan cost, and if it offers unlimited bookkeeping records for the money.
- Financial Scope: Does it provide good insights into cash flow, income, and profit? Are budgeting tools included?
- Team Access & Security: Ensure there is easy access and strong security for records and employees.
- Niche Features: Do you need to track mileage, run payroll, or manage purchase orders?
Your finance team deserves a system that makes their life easier from the first month-end to year-end, and that works seamlessly with auditors.
Final Verdict
So, Easy Month End vs Hubdoc—which wins?
For small business owners struggling with the month-end close.
Easy Month End is our top choice. It’s built just for that, helping you reconcile accounts and keep things accurate.
Hubdoc is great for data capture and getting receipts into your cloud-based system.
But if month-end stress is your main issue.
Easy Month End offers a clear, step-by-step path.
More of Easy Month End
Here is a brief comparison of Easy Month End with some of the leading alternatives.
- Easy Month End vs Puzzle io: While Puzzle.io is for startup accounting, Easy Month End focuses specifically on streamlining the close process.
- Easy Month End vs Dext: Dext is primarily for document and receipt capture, whereas Easy Month End is a comprehensive month-end close management tool.
- Easy Month End vs Xero: Xero is a full accounting platform for small businesses, while Easy Month End provides a dedicated solution for the close process.
- Easy Month End vs Synder: Synder specializes in integrating e-commerce data, unlike Easy Month End which is a workflow tool for the entire financial close.
- Easy Month End vs Docyt: Docyt uses AI for bookkeeping and data entry, while Easy Month End automates the steps and tasks of the financial close.
- Easy Month End vs RefreshMe: RefreshMe is a financial coaching platform, which is different from Easy Month End’s focus on close management.
- Easy Month End vs Sage: Sage is a large-scale business management suite, while Easy Month End offers a more specialized solution for a critical accounting function.
- Easy Month End vs Zoho Books: Zoho Books is an all-in-one accounting software, whereas Easy Month End is a purpose-built tool for the month-end process.
- Easy Month End vs Wave: Wave provides free accounting services for small businesses, while Easy Month End offers a more advanced solution for close management.
- Easy Month End vs Quicken: Quicken is a personal finance tool, making Easy Month End a better choice for businesses needing to manage a month-end close.
- Easy Month End vs Hubdoc: Hubdoc automates document collection, but Easy Month End is designed to manage the full close workflow and team tasks.
- Easy Month End vs Expensify: Expensify is an expense management software, which is a different function than Easy Month End’s core focus on the financial close.
- Easy Month End vs QuickBooks: QuickBooks is a comprehensive accounting solution, while Easy Month End is a more specific tool for managing the month-end close itself.
- Easy Month End vs AutoEntry: AutoEntry is a data capture tool, whereas Easy Month End is a complete platform for task and workflow management during the close.
- Easy Month End vs FreshBooks: FreshBooks is for freelancers and small businesses, while Easy Month End offers a dedicated solution for the month-end close.
- Easy Month End vs NetSuite: NetSuite is a full-featured ERP system, which is broader in scope than Easy Month End’s specialized focus on the financial close.
More of Hubdoc
- Hubdoc vs Puzzle: This software focuses on AI-powered financial planning for startups. Its counterpart is for personal finance.
- Hubdoc vs Dext: This is a business tool for capturing receipts and invoices. The other tool tracks personal expenses.
- Hubdoc vs Xero: This is popular online accounting software for small businesses. Its competitor is for personal use.
- Hubdoc vs Synder: This tool syncs e-commerce data with accounting software. Its alternative focuses on personal finance.
- Hubdoc vs Easy Month End: This is a business tool to streamline month-end tasks. Its competitor is for managing personal finances.
- Hubdoc vs Docyt: This uses AI for business bookkeeping and automation. The other uses AI as a personal finance assistant.
- Hubdoc vs Sage: This is a comprehensive business accounting suite. Its competitor is an easier-to-use tool for personal finance.
- Hubdoc vs Zoho Books: This is an online accounting tool for small businesses. Its competitor is for personal use.
- Hubdoc vs Wave: This provides free accounting software for small businesses. Its counterpart is designed for individuals.
- Hubdoc vs Expensify: This is a business expense management tool. The other is for personal expense tracking and budgeting.
- Hubdoc vs QuickBooks: This is well-known accounting software for businesses. Its alternative is built for personal finance.
- Hubdoc vs AutoEntry: This is designed to automate data entry for business accounting. Its alternative is a personal finance tool.
- Hubdoc vs FreshBooks: This is accounting software for freelancers and small businesses. Its alternative is for personal finance.
- Hubdoc vs NetSuite: This is a powerful business management suite for large companies. Its competitor is a simple personal finance app.
Frequently Asked Questions
What is the main difference between Easy Month End and Hubdoc?
Easy Month End focuses on organizing and streamlining the financial close process. Hubdoc specializes in automating data entry and document collection from bills and receipts, saving valuable time.
Does Easy Month End offer a free trial?
Information on a free trial for Easy Month End isn’t readily available, but direct inquiries with the company would confirm current offers.
Is Hubdoc a good solution for expense tracking like Expensify?
Hubdoc helps with expense data capture and syncing, but Expensify excels as a dedicated expense management and expense reporting solution. It’s not vs Expensify, but rather complementary.
Can Easy Month End help with accounts payable?
Easy Month End focuses on the closing process, which involves payable reconciliation. However, unlike some other tools, it’s not a direct bill payment or invoice management system.
Is Docyt a good alternative to Easy Month End or Hubdoc?
Docyt uses AI to automate bookkeeping tasks and offers a broader range of features. It’s often designed for service-based businesses and could be a more vast solution than either Easy Month End or Hubdoc individually for some needs.
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