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Docyt description
Docyt is an AI-powered accounting automation software that integrates with QuickBooks. It automates tasks like expense management, revenue tracking, and financial reporting, providing real-time insights into your business's financial health. Docyt is designed for businesses of all sizes and specializes in multi-entity and industry-specific accounting, making it suitable for businesses with complex needs. It promises to save you time and money by eliminating manual data entry and providing accurate, real-time financial data.
Who is Docyt best for
Docyt is an AI-powered accounting automation software designed for QuickBooks users. It automates expense management, revenue tracking, and financial reporting, providing real-time insights. Users praise its comprehensive features and seamless integrations, but some find the onboarding and permission settings challenging. Docyt is best for small to mid-sized businesses, especially in retail and hospitality, with multi-entity or industry-specific accounting needs.
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Best for small to mid-sized businesses using QuickBooks.
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Ideal for retail and hospitality businesses with multi-entity accounting needs.
Docyt features
| Supported Docyt allows receipt capture using a mobile device. |
| Supported Docyt supports multi-entity financial consolidation, providing unified financial reports and analysis. |
| Supported Docyt automates data entry by collecting data from various sources, categorizing transactions, and extracting information from documents. |
| Supported Docyt automatically imports and reconciles bank transactions. |
| Supported Docyt offers expense tracking, automated categorization, and reimbursement tools. |
| Supported Docyt supports generating profit and loss statements, balance sheets, and cash flow statements. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Docyt reviews
We've summarised 65 Docyt reviews (Docyt Capterra reviews and Docyt G2 reviews) and summarised the main points below.
- Seamless integration with various hotel property management systems.
- Comprehensive, all-in-one solution for document management, accounts payable, and reporting.
- Provides valuable insights into USALI formatted financials and portfolio-level KPIs.
- Intuitive iOS app for convenient access to data and reports.
- Responsive and helpful customer support team.
- Onboarding can be difficult, especially when using custom charts of accounts.
- Setting permissions for team members is not user-friendly and lacks preset roles.
- The software frequently miscategorizes expenses, requiring manual adjustments.
- Processing bills and payments involves too many steps.
- Occasional bugs and errors require contacting customer support.
Docyt pricing
The commentary is based on 6 reviews from Docyt Capterra reviews and Docyt G2 reviews.
Docyt's automated bookkeeping features offer time savings and accuracy, justifying the cost for many users. While some consider it pricey, others find the value outweighs the expense, especially for managing multiple businesses or streamlining financial reporting. Several users highlight the cost savings from reduced bookkeeping and accounting fees.
Users sentiment
See the Docyt pricing page.
Impact
This plan includes Docyt AI Companion, White Glove Onboarding, RevFlow, ExpenseFlow, ClosingFlow, and InsightFlow. It also offers Multi-Entity Accounting, Bookkeeping Email Support, Dedicated Bookkeeping Expert, Business Key Performance Indicators, Docyt Check at $1.50/Check, and Electronic ACH at $0.50/ACH (Standard) and $2.50/ACH (Next Day).
Advanced
This plan builds on the features of the Impact plan and includes additional benefits such as support for up to 3 revenue systems in RevFlow, up to 100 bills/month in ExpenseFlow, up to 250 custom chart of accounts in ClosingFlow, and department-level P&L in InsightFlow. It also includes Budget Setting.
Advanced Plus
This plan expands on the Advanced plan, offering enhanced features like support for up to 5 revenue systems and revenue deposits tracking in RevFlow, up to 150 bills/month, line item data extraction, and vendor network support in ExpenseFlow, unlimited chart of accounts and advanced accrual payroll accounting in ClosingFlow, and advanced unit economics alerts and benchmarking of KPIs in InsightFlow.
Enterprise
This plan is designed for businesses with over 1,000 transactions and offers custom pricing to accommodate specific needs.
Docyt alternatives
BILL Spend & Expense (Formerly Divvy)Better suited for managing company spending with company cards and real-time tracking. Wider industry applicability. Higher ratings and more user reviews suggest greater user satisfaction. Free to use.Read more
BILL AP/ARBetter for financial operations in the USA. Focuses on streamlining AP/AR processes for SMBs, offering faster payments and integrations with accounting software. Has greater website traffic momentum.Read more
BotkeeperBetter fit for accounting firms needing automation. Has higher ratings and is growing faster in terms of website traffic, but slower employee growth. More focused on financial reporting and bank reconciliation.Read more
Pilot.ioBetter for knowledge management and collaboration within Google Workspace. Has growing website traffic, but declining employee growth. Primarily for small to medium businesses.Read more
BenchBetter for creating and delivering certification programs. More focused on educational institutions and professional services. Has slower momentum.Read more
SAP S/4HANA CloudBetter suited for larger enterprises and offers broader industry coverage. Provides more robust integration capabilities with other business systems. Higher rated by users but more complex to implement and expensive. A strong Docyt alternative for established businesses needing a full ERP suite.Read more
Docyt FAQ
What is Docyt and what does Docyt do?
Docyt is AI-powered accounting automation software integrating with QuickBooks. It automates expense management, revenue tracking, and financial reporting, providing real-time insights. Docyt suits businesses of all sizes, specializing in multi-entity and industry-specific accounting.
How does Docyt integrate with other tools?
Docyt integrates with QuickBooks and various hotel property management systems. It also offers a mobile app for convenient access. More integrations may be available via API, but this isn't explicitly stated in the product description.
What the main competitors of Docyt?
Docyt's main competitors include SAP S/4HANA Cloud, LedgerUp, Rho, SAP Concur, Spendesk, and SoftLedger. These alternatives offer similar features such as accounting automation, expense management, and financial reporting, catering to various business sizes and needs.
Is Docyt legit?
Docyt is a legitimate AI-powered accounting software. It integrates with QuickBooks and automates key accounting tasks. User reviews are positive about its automation capabilities, but some mention difficulties with onboarding and occasional bugs. So, Docyt is safe and useful, but be prepared for a learning curve.
How much does Docyt cost?
Docyt's pricing starts at $299/month for the Impact plan, $499/month for Advanced, and $799/month for Advanced Plus. The Enterprise plan is available for businesses with over 1,000 transactions, with custom pricing upon request. Docyt does not offer free trials or free plans.
Is Docyt customer service good?
Docyt's customer service receives positive feedback overall. Users praise the responsive and helpful support team, especially during onboarding and issue resolution. However, some have noted communication difficulties, potentially due to language barriers with overseas staff.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.