The advances in technology for banking have significantly automatized bookkeeping. However, anyone who deals with financial records knows that the automated system doesn’t always work. Feeds from banks stop working, and historical transactions might not be available as well as clients continue to send statements as PDFs. One must transform a document created to be read as data that accounting software actually works with.
A converter for bank statements can reduce the amount of repetitive work required in this process. Instead of entering manually dates, descriptions, withdrawals, and deposits row-by-row, Docubrew converts statement information into a spreadsheet format that is ready to be used.
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When a PDF is deemed to be the missing piece
Imagine a bookkeeper is preparing a year-end reconciliation for a new client. The accounting software shows the most the most recent transactions, however some of the older years were left out. Fortunately, the client has downloaded the original PDF statements.
It used to take hours of gruelling copying into the spread sheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew can extract information about transactions from digital PDFs as well as scanned paper bank statements.
Reduced manual transcription can also make it less likely to make typing errors, which is an enormous benefit for those working in the field who have to transfer bank accounts regularly into Excel.
Be sure to keep the pages that Actually Are Important
Bank statements don’t consist only of transactions. A 12-page report could contain an account cover page, a cover page summary, disclosures or other notices as well as several pages of bank activity.
Docubrew allows users to preview the document and select the appropriate pages prior to conversion. That makes it easier to convert bank statements to Excel without introducing unrelated statement contents into the working data.
After processing, the file is able to be opened in Excel or made ready for use with accounting software platforms like QuickBooks, Xero, and FreshBooks.
CSV Provides a Flexible Accounting Workflow
CSV is still in use because it is extensively supported by databases, spreadsheets, and accounting software. Docubrew will convert your bank statement to CSV using the transaction tables contained within the report.
The same workflow helps firms convert bank statements to CSV, whether they are recovering historical records, managing cleaning projects for new clients, looking into missing transactions, or compiling the data for reconciliation.
Accounting firms that need to process multiple clients or statements simultaneously may benefit from batch processing.
The financial documents you use should be protected by careful privacy controls
Convenience isn’t the only consideration when processing financial records. Bookkeepers and accountants can be worried about the place they work from to handle financial records.
Docubrew gives two choices. Windows desktop applications convert files locally, on the PC of the user. Cloud encryption is available for users who prefer working with a browser. Uploads are removed automatically 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
The PDF statement is a fantastic record, but it’s inconvenient if you need to reconcile, sort and filter transactions from another. Scanned files create an additional complication, as the transaction information is often only accessible in images.
Docubrew is a solution that combines statement parsing and OCR for scanned documents. It offers accountants, bookkeepers, and businesspeople simple method of transforming the financial documents of archives into useful transaction information.
The result is a straightforward improvement to a previously tedious process: use the bank statement as a primary financial record and then turn its transaction table into data you can actually use.