Technology in banks has made bookkeeping tasks easier, however those who work with financial records know that it’s not perfect. In the case of feeds from banks, transactions may not be accessible or the clients are still sending statements as PDFs. It is then necessary to alter a PDF document designed to be read by a reader into something accounting software will actually use.
A bank statement converter can take away a significant portion of the repetitive work required in this process. Docubrew automates the conversion of information of your bank statement into structured spreadsheet information.
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A PDF can be the missing piece
Imagine a bookkeeper who is creating the year-end reconciling for a new customer. The accounting platform contains latest transactions, however, a number of earlier months are not present. The client downloaded the original PDF statements.
Traditionally, rebuilding the previous months can take hours of copying figures into the spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew accepts electronic PDFs as well scans of paper statements, and extracts transaction data for use in spreadsheets.
The reduction of manual transcription is an effective way to lower the chance of typing mistakes for professionals who must transfer bank balances to Excel frequently.
Be sure to keep the pages that matter
Statements of bank accounts aren’t made up entirely of transactions. A 12-page account statement may contain an introduction page, a account summary, disclosures or other notices as well as a variety of pages of actual banking activity.
Docubrew allows users to preview a document and choose the relevant pages to convert. This makes it simpler for bank statements to be converted to Excel without adding unrelated statements contents into the working data.
Once processed, the resulting file can be opened in Excel or re-formatted to work with accounting software platforms like QuickBooks, Xero, and FreshBooks.
CSV Allows for Flexible Accounting Workflow
CSV can still be useful and is widely used by databases and spreadsheets. Accounting applications can also use CSV. Docubrew can convert a bank statement into CSV by referring to its transaction table.
This same process can assist firms convert bank statements to CSV while rewriting historical books as well as handling a client cleanup project, investigating missing transactions, or creating the data needed to reconcile.
Accounting firms that have to handle multiple client statements or clients simultaneously may benefit from batch processing.
Financial Documents Need Considerate Privacy Controls
There are many factors to consider when processing financial records. Accountants and bookkeepers might be also concerned about the place they work from to handle financial records.
Docubrew comes with two ways to process data. Windows desktop software processes files stored on the computer used by the user. These statements aren’t uploaded to be transformed. If you prefer using a browser-based workflow may choose the encrypted cloud version which allows uploaded files to be completely deleted after 24 hours.
The platform can range that ranges from Excel software to bank statements based solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements make excellent documents, but they’re not the most convenient for transactions that need to be reconciled, sorted out, filtered, or imported elsewhere. Scanned files create an additional complication, as the information about transactions is usually only available as images.
Docubrew is a blend of statement parsing and OCR for documents that have been scanned. It offers accountants, bookkeepers, and businesspeople a simple method of transforming archived financial documents into actionable transactional data.
This simple fix can speed up the process of keeping the bank statement that was originally issued while converting its transaction table to data you can use.
