The banking technology has greatly automated bookkeeping. However anyone who handles financial records knows that the automation process doesn’t always perform as expected. The feeds for banks aren’t functioning correctly, the historical transactions may not be available, and clients may still send statements in the format of PDF. Then, someone has to change a PDF document that was designed for reading into something that accounting software will actually use.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Docubrew converts bank statements into spreadsheet-ready information, rather than manually entering description, date withdrawals, and deposits row by line.
When a PDF is the Missing Piece
Imagine a bookkeeper who is creating the year-end reconciling for a new customer. The accounting platform shows the most recent transactions, however a few older months are missing. Fortunately the client has downloaded the original PDF statement.
It was once a process of hours of gruelling copying into an Excel spread sheet. A PDF bank statement to Excel workflow offers a feasible alternative. Docubrew collects data about transactions from scanned paper bills or digital PDFs.
For professionals who often require the transfer of statements from banks to Excel and reduce manually transcribed statements also eliminates the chance of typing errors.
Keep the Pages That Actually Are Important
Bank statements aren’t composed entirely of transactions. A 12-page statement could include an account cover page, a cover page overview, disclosures, or notices as well as a variety of pages of banking activity.
Docubrew lets users preview the document, and select the relevant pages before conversion. It is easier to convert bank statement accounts to Excel because the contents that are not related to the bank account of the statements aren’t included in your working dataset.
After processing, the file can then be opened in Excel or created for use with accounting platforms, such as QuickBooks, Xero, and FreshBooks.
CSV Provides a Flexible Accounting Workflow
CSV is still useful since it is widely supported by databases, spreadsheets as well as accounting applications. If you need an account statement converted to CSV, Docubrew produces structured output based upon the transaction table that is in the statement.
The same process is employed to transform bank statements to CSV files for various purposes, including reconstructing the past, starting a project to clean up unutilized client data, looking into gaps in transactions, or preparing the information to be used in reconciliation.
Batch processing is especially beneficial for accounting firms that are processing multiple statements or clients at the same time.
Financial documents deserve thoughtful security measures
Processing financial records is not solely about ease of use. Accounting and bookkeeping professionals may be concerned about the processing location since bank statements contain sensitive client data.
Docubrew has two methods. Windows desktop software is used to process files stored on the computer of the user, and the statements aren’t uploaded to be converted. The cloud version that is encrypted is available for users who prefer working with a browser. The uploaded files are removed automatically after 24 hours.
This distinction is what differentiates Excel software, which relies entirely on remote processing from the platform for bank statements.
Turning Document Archives Back Into Working Data
The PDF statement is an excellent record, but it’s inconvenient should you need to reconcile, sort, filter, or import transactions from another. Scanned documents add an extra problem, since the transaction details are typically only available as images.
Docubrew combines statement parsing with OCR support for documents scanned accounting professionals, bookkeepers, and businesses a practical method of converting financial paperwork that is archived to usable transaction data.
This simple method can improve the efficiency of a lengthy process by keeping the bank statement that was originally issued while converting its transaction table to information that you can utilize.