Looking for a Hubdoc Alternative for Bank Statements?
Hubdoc is excellent for receipt capture—and it's free with Xero. But for bank statement conversion with transaction-level extraction and AI categorization, you need a specialized tool.
Hubdoc excels at receipts & invoices, not bank statements.
No financial statements (P&L, balance sheets) or check processing.
Rule-based matching vs Zera AI's GAAP-trained categorization.
What is Hubdoc?
Hubdoc is a document capture tool that helps businesses and accountants collect receipts, bills, and invoices in one place. Acquired by Xero in 2018, it's now deeply integrated into the Xero ecosystem.
What Hubdoc Does Well
- Mobile receipt capture (snap photos)
- Email forwarding for invoices
- Native Xero integration
- Free with Xero subscriptions
- Unlimited document uploads
Hubdoc Limitations
- Basic bank statement extraction
- No financial statement processing
- No check image processing
- No AI-powered categorization
- No multi-account auto-detection
Hubdoc Pricing
With Xero Subscription
FREE
Included with Early, Growing, Established plans
Standalone / QuickBooks
$12/month
30-day free trial available
The Gap: Bank Statement Processing
Hubdoc handles receipts beautifully—but when clients send bank statement PDFs, you need more powerful extraction.
Transaction-Level Extraction
Hubdoc captures document-level data (vendor, total, date). Zera Books extracts every transaction with date, description, and amount—ready for reconciliation.
Financial Statement Support
Need to process P&L statements or balance sheets? Hubdoc can't. Zera Books extracts line items from income statements, balance sheets, and cash flow statements.
AI Categorization
Hubdoc uses basic supplier rules. Zera AI is GAAP-trained to automatically categorize transactions for your chart of accounts—saving 30-45 minutes per client.
Check Processing
Hubdoc doesn't process check images. Zera Books extracts payee, amount, date, memo, and MICR line data from check images for reconciliation.
Multi-Account Detection
When clients send combined PDFs with checking, savings, and credit cards, Zera Books auto-detects and separates each account into individual files.
Batch Processing
Upload 50+ bank statements at once with Zera Books. Hubdoc is designed for individual receipt/invoice submission, not high-volume batch processing.
Feature Comparison: Hubdoc vs Zera Books
Different tools for different needs. See where each platform excels.
| Feature | Hubdoc | Zera Books |
|---|---|---|
| Primary Focus | Receipt & invoice capture | Bank statement conversion |
| Bank Statement Processing | Basic extraction | Advanced (99.6% accuracy) |
| Financial Statements (P&L) | Not supported | Full support |
| Check Processing | Not supported | Full support |
| AI Transaction Categorization | Basic rules | Zera AI (GAAP-trained) |
| Multi-Account Detection | Not supported | Auto-detection |
| Mobile App | iOS & Android | Web-based |
| Receipt Capture | Core strength | Not primary focus |
| Price (Xero users) | Free with subscription | $79/month |
| Price (QBO users) | $12/month | $79/month |
| QuickBooks Integration | Yes | Yes (with categorization) |
| Xero Integration | Native | Yes (with categorization) |
| Batch Upload (50+ files) | Limited | Full support |
| Document Types | Receipts, bills, invoices | Bank statements, financials, invoices, checks |
Better Together: Hubdoc + Zera Books
You don't have to choose. Many accountants use both tools for a complete workflow.
Use Hubdoc For
- Clients submitting receipts via mobile app
- Forwarding vendor invoices from email
- Document storage and organization
- Syncing bills directly to Xero/QBO
Cost: Free with Xero / $12/month for QBO
Use Zera Books For
- Converting bank statement PDFs to Excel
- Processing financial statements (P&L, balance sheets)
- AI categorization for transaction import
- Batch processing 50+ statements at once
Cost: $79/month unlimited
“My clients send me all kinds of messy PDFs from different banks. This tool handles them all and saves me probably 10 hours a week.”
Ashish Josan
Manager, CPA at Manning Elliott
Frequently Asked Questions
Is Hubdoc free with Xero?
Yes, Hubdoc is included at no extra cost with Xero Early, Growing, and Established plans. It's not included with Xero Cashbook or Ledger. For QuickBooks Online users, Hubdoc costs $12/month after the 30-day trial.
Can Hubdoc process bank statements?
Hubdoc can extract basic data from bank statements, but it's designed for receipts and invoices. For transaction-level extraction with AI categorization, Zera Books offers specialized bank statement processing.
Who owns Hubdoc?
Xero acquired Hubdoc in 2018. It's now deeply integrated into the Xero ecosystem and included free with most Xero plans. This tight integration is great for Xero users but may limit flexibility.
Should I use Hubdoc and Zera Books together?
Yes! Many accountants use Hubdoc (free with Xero) for receipt capture from clients, and Zera Books for bank statement conversion and financial document processing. They complement each other well.
What can Zera Books do that Hubdoc can't?
Zera Books specializes in bank statement conversion with 99.6% accuracy, processes financial statements (P&L, balance sheets), handles checks, offers AI categorization trained on GAAP standards, and auto-detects multiple accounts in single PDFs.
Does Zera Books have a mobile app?
Zera Books is web-based and optimized for desktop use—where bank statement processing typically happens. For mobile receipt capture, Hubdoc's mobile app is excellent and works perfectly alongside Zera Books.
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CompareNeed More Than Receipt Capture?
Keep Hubdoc for receipts. Add Zera Books for bank statements, financial statements, and AI-powered categorization. Get unlimited conversions for $79/month.
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