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AutoEntry vs Hubdoc for Bank Statements: Which Handles Multi-Account Processing Better?

Both AutoEntry and Hubdoc promise to streamline bank statement processing for accounting firms. One uses credit-based pricing that creates cost anxiety. The other bundles bank statements with receipt scanning you might not need. Here's how they actually perform when processing multi-account client statements.

8 min read

For Accountants & Bookkeepers

Updated January 2025

TL;DR: The Pricing Models Tell the Story

AutoEntry costs ~$0.54 per page (3 credits per bank statement page). A single 15-page quarterly statement costs $8.10. Process 50 clients monthly and you're looking at $405/month.

Hubdoc is free with Xero plans, but lacks AI categorization and line-item extraction. You're trading cost for manual work.

Zera Books processes unlimited bank statements for $79/month with AI categorization and multi-account auto-detection. No per-page anxiety, no feature compromises.

The Pricing Models: Where It Gets Expensive

When evaluating bank statement processing tools, pricing structure matters more than base price. Both AutoEntry and Hubdoc use models that create hidden costs or force compromises.

AutoEntry

Credit-Based

$0.54/page

3 credits per bank statement page

15-page statement = $8.10

50 clients/month = $405+

Costs scale with volume

Hubdoc

Bundled

Free* with Xero

Or $12/month standalone

No AI categorization

No line-item extraction

Manual CSV uploads required

AutoEntry's credit-based model means every page costs money. For accounting firms processing multiple clients with multi-account statements, costs add up quickly. Hubdoc appears free, but you're trading cost for manual work and missing features accounting firms actually need.

What Each Tool Actually Does With Bank Statements

Both tools market themselves as bank statement processors, but their capabilities differ significantly when you're managing multi-account clients or need categorized transactions ready for QuickBooks.

AutoEntry Bank Statement Capabilities

High accuracy extraction - Owned by Sage, focuses on data quality
Statement reconciliation - Matches invoices to supplier statements
Multi-platform integration - Xero, Sage, QuickBooks support
No AI categorization - Extracts data but doesn't auto-categorize transactions
Credit anxiety - 3 credits per page creates cost tracking overhead

Hubdoc Bank Statement Capabilities

700+ bank connections - Auto-fetches statements from financial institutions
PDF to CSV conversion - Converts statements to CSV format
Free with Xero - Included in Xero Starter/Standard/Premium
No line-item extraction - Frustrated users report missing features
Manual CSV upload - Still requires manual import to accounting software
Stagnant development - Users report lack of updates since Xero acquisition

Notice what's missing from both: AI-powered transaction categorization. You extract the data, then manually categorize transactions before importing to QuickBooks or Xero. For firms managing 20+ clients, that's hours of manual work monthly.

Head-to-Head: Bank Statement Features

Comparing what matters most when processing multi-account client statements

Feature	AutoEntry	Hubdoc	Zera Books
Pricing Model	$0.54/page (credits)	Free with Xero	$79/month unlimited
AI Transaction Categorization
Multi-Account Auto-Detection
Direct QuickBooks Integration		CSV only
Batch Processing
Line-Item Extraction
Client Management Dashboard
Scanned PDF Support
Cost for 50 Clients/Month	$405+	Included in Xero	$79 total

Where AutoEntry Falls Short for Bank Statement Processing

AutoEntry excels at data extraction accuracy - it's owned by Sage and built for accounting workflows. But its credit-based pricing creates problems for firms processing high volumes of bank statements.

1. Per-Page Costs Compound Quickly

At 3 credits per page (~$0.54), a typical client with checking, savings, and credit card accounts generates 30-45 pages monthly. That's $16-24 per client just for bank statement processing. Scale to 50 clients and monthly costs exceed $405. Learn more about AutoEntry's Xero categorization workflow.

2. No AI Transaction Categorization

AutoEntry extracts transaction data accurately but doesn't categorize it. After paying $0.54 per page, you still manually categorize hundreds of transactions before importing to QuickBooks. For accounting firms, AI categorization is the time-saver that actually matters.

3. No Multi-Account Auto-Detection

When clients send consolidated PDFs with multiple accounts, AutoEntry processes them as single documents. You manually split accounts before importing. This adds workflow steps that modern bank statement processors handle automatically.

4. Credit Tracking Creates Mental Overhead

Every upload requires checking credit balance. Should you process this 20-page statement now or wait until next month? This creates decision fatigue that unlimited pricing eliminates entirely.

Bottom line: AutoEntry works well for bookkeepers with low document volumes who prioritize extraction accuracy over workflow automation. But for firms processing 30+ bank statements monthly, credit costs and missing automation features become expensive problems. Compare with AutoEntry vs Zera Books for unlimited processing.

Why "Free with Xero" Doesn't Mean Better for Bank Statements

Hubdoc's biggest selling point - free with Xero subscriptions - sounds attractive until you understand what you're getting. Users consistently report frustration with limited features and stagnant development since the Xero acquisition.

1. No Line-Item Extraction

Hubdoc converts bank statement PDFs to CSV files but doesn't extract individual transaction details with the granularity accounting firms need. You get basic transaction lists without the categorization or detailed extraction that makes statements actually usable. See Hubdoc's Xero categorization limitations.

2. Manual CSV Upload Workflow

After Hubdoc converts your PDF to CSV, you manually upload the CSV to Xero or QuickBooks Online. There's no direct integration with pre-categorized transactions. You're essentially getting a PDF-to-CSV converter, not an accounting workflow automation tool.

3. Feature Bloat You Don't Need

Hubdoc bundles bank statements with receipt scanning, bill pay, and document storage. If you only need bank statement processing, you're navigating features you don't use. Learn about Hubdoc's document scope vs focused tools.

4. Xero Lock-In

Hubdoc works best (and is free) only with Xero. If you use QuickBooks or multi-platform workflows, you pay $12/month for limited functionality. The "free" model forces platform commitment.

5. Stagnant Development

User reviews frequently mention lack of feature development since Xero's acquisition. The 3.5/5 Xero App Store rating reflects frustration with missing features like line-item extraction that users request but never receive.

Bottom line: Hubdoc works for Xero users with basic document capture needs who prioritize cost savings over automation. But for accounting firms needing AI categorization, multi-account processing, or QuickBooks integration, "free" becomes expensive when measured in manual work hours.

Multi-Account Processing: Where Both Tools Struggle

Real-world client bank statements aren't simple. A typical small business sends monthly PDFs containing checking, savings, credit card, and sometimes line of credit accounts - all in one document. Here's how AutoEntry and Hubdoc handle this common scenario.

AutoEntry Workflow

1.Upload multi-account PDF (costs 3 credits per page)
2.AutoEntry extracts all transactions to single file
3.Manually identify account boundaries
4.Split file into separate account files
5.Manually categorize transactions for each account
6.Import each account separately to QuickBooks

Time per client: 25-35 minutes

Hubdoc Workflow

1.Upload multi-account PDF to Hubdoc
2.Download CSV (all accounts combined)
3.Open CSV in Excel, identify account sections
4.Manually split into separate account CSVs
5.Manually categorize transactions
6.Upload each CSV to Xero/QuickBooks manually

Time per client: 30-40 minutes

Neither tool automatically detects account boundaries in multi-account PDFs. Both require manual intervention to split accounts and categorize transactions. For accounting firms managing 20+ clients, this manual splitting adds 10+ hours monthly.

How Modern Tools Handle This

AI-powered platforms like Zera Books use machine learning to automatically detect account boundaries, separate transactions by account, categorize each transaction, and export account-specific files ready for QuickBooks import. The entire process takes 2-3 minutes per client. Learn about QuickBooks category mapping.

Time saved per client: 23-37 minutes × 50 clients = 19-31 hours monthly

Real-World Impact: What Accounting Firms Actually Need

"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

Ashish's experience highlights what both AutoEntry and Hubdoc miss: accounting firms don't need just extraction or just conversion. They need complete workflow automation - from upload to categorized QuickBooks import - without per-page fees or manual CSV manipulation. Read more about bank reconciliation workflows.

A Better Alternative: Bank Statement Specialist Tools

AutoEntry's credit-based pricing and Hubdoc's limited features create a gap: accounting firms need unlimited processing with AI automation, not volume limits or manual workflows.

What Bank Statement Specialists Offer

Unlimited Processing

$79/month flat rate, no per-page fees or credit tracking

AI Categorization

Auto-categorize transactions for QuickBooks/Xero

Multi-Account Auto-Detection

Automatically separate accounts in single PDF

Direct Integration

Export pre-categorized data to QuickBooks/Xero

Client Management

Organize conversions by client with history tracking

Batch Processing

Upload 50+ statements at once

ROI Calculation: Cost vs. Time Saved

AutoEntry cost (50 clients, 15 pages avg)$405/month

Time spent categorizing + splitting accounts20+ hours/month

Zera Books cost (unlimited)$79/month

Time with AI categorization + auto-detection2-3 hours/month

Total Monthly Savings:

$326 + 18 hours

At $150/hour billing rate, that's $2,700 in recoverable time monthly

Explore best bank reconciliation software comparisons to find tools that prioritize bank statement automation over bundled features or volume-based pricing.

Stop Choosing Between High Costs and Limited Features

Zera Books combines unlimited bank statement processing with AI categorization and multi-account auto-detection. No credit tracking, no CSV uploads, no manual splitting.

Try for one week View Pricing

$79/month unlimited • AI categorization included • No per-page fees