The technology of banking has automated many bookkeeping tasks However, anyone who has to work with financial records understands that it’s not perfect. Clients continue to send PDF statements, bank feeds may not be working and historical transactions aren’t available. Then, someone has to alter a PDF document designed for reading into a document that accounting software actually utilizes.
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A bank statement converter will reduce the time-consuming work. Docubrew instantly converts the data of your bank statement into structured spreadsheet data.
If a PDF ends up being the Missing Piece
Imagine a bookkeeper working on the year-end reconciliation of a new customer. The accounting system has recently completed transactions but some older months are not present. The client downloaded PDF original statements.
In the past, re-creating these months could take many hours of copying and pasting numbers into spreadsheets. The bank statement PDF to Excel workflow offers a viable alternative. Docubrew can extract transaction information from digital PDFs and scanned bank statements printed on paper.
For professionals who regularly need to move a bank statement to Excel, reducing manual transcription also removes an unnecessary opportunity for typing errors.
Be sure to keep the pages that matter
Statements from banks do not consist solely of transactions. A 12-page report could contain an account cover page, a cover page summary and disclosures or notifications along with a number of pages of bank activity.
Docubrew gives users the option to preview a document and select the appropriate pages for conversion. This makes it simpler for bank statements to be converted to Excel without bringing unrelated statement data into the working dataset.
Once the file is processed after processing, it can be opened with Excel or integrated into accounting platforms such as QuickBooks, Xero, FreshBooks etc.
CSV offers a flexible accounting workflow
CSV is still in use because it is supported by spreadsheets, databases and accounting applications. Docubrew will transform your bank statement into CSV using the transaction tables included in the statement.
The same workflow can be used to convert bank statements into CSV for a number of purposes, including reconstructing the past, starting a project to clean up the client database that is not being used, analyzing any missing transactions or creating the information to be used in reconciliation.
Batch processing can be particularly valuable for accounting firms that are working on multiple accounts or clients at the same time.
Financial Documents Deserve Thoughtful Privacy Controls
When processing financial records, efficiency is not the only factor to be considered. Bank statements can contain sensitive client data accounting professionals and bookkeepers could also consider the location where processing occurs.
Docubrew offers two options. Windows desktop applications convert files locally, and on the user’s PC. For those who prefer working with a browser opt for the encrypted cloud version in which uploaded files are automatically deleted within 24 hours.
The platform may range from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are excellent documents, however they can be a hassle when transactions must be reconciled, sorted out, removed, or imported into another. Scanned files can add a new issue, as the details of transactions are usually only available in images.
Docubrew is a powerful program that uses OCR and statement parsing to convert document scans into usable financial information. This offers accountants, bookkeepers, and business owners the chance to convert archival financial documents into useful transactional information.
The result is a straightforward improvement to an otherwise monotonous routine: preserve the bank statement as the primary financial record while turning its transactions table into data that you can actually use.