The advancements in banking technology have greatly automated bookkeeping. However those who deal with financial records knows that the automated system doesn’t always perform as expected. Feeds from banks stop working, and historical transactions aren’t always available and customers still send statements in PDF format. When that happens, somebody must convert a document intended for reading into data that accounting software could actually utilize.
A bank statement converter can eliminate much of the repetitive work required in this process. Docubrew converts bank statements into spreadsheet-ready information instead of manually entering the date, description of withdrawals and deposits row by line.
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When a pdf becomes the missing element
Imagine a bookkeeper making a year-end reconciliation for an unnamed client. The accounting platform shows the most recent transactions, however a few older months have been left out. The client downloaded PDF original statements.
It was once a process of hours of tedious copying into an Excel spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew accepts digital PDFs as well as printed paper statements that are scanned and extracts the transaction information for spreadsheet use.
Professionals who frequently require the transfer of a bank statement to Excel by hand, reducing the manual transcription can also eliminate the possibility of typing errors.
Be sure to keep the pages that matter
The bank statements aren’t just composed of transactions. A 12-page document may include a cover page, account summary and disclosures or notices as well as a variety of pages of actual transactions in the bank.
Docubrew allows users to preview the document and choose the relevant pages before conversion. This allows users for bank statements to be converted to Excel without introducing unrelated statement information into the work dataset.
The file created can be utilized by accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting Workflow
CSV remains popular since spreadsheets as well as databases and accounting software are compatible with it. Docubrew will change your bank statement to CSV by using the transaction tables included within the report.
The same process can help firms convert bank statements into CSV. This is whether they’re making historical records from scratch, handling the cleanup of new clients, investigating the missing transaction, or even preparing information for reconciliation.
Accounting firms that have to process multiple clients or statements simultaneously may benefit by batch processing.
Financial Documents deserve thought-out privacy controls
It’s not the only thing to think about when processing financial records. Accountants and bookkeepers might be also concerned about the location in which they are processing financial records.
Docubrew provides two alternatives. Its Windows desktop application processes documents locally on the user’s computer thus the files aren’t being uploaded to convert them. For those who prefer using a browser-based workflow may opt for the encrypted cloud version that allows for uploading files to be instantly deleted within 24 hours.
That choice distinguishes the platform from bank statement to Excel software, which is based solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are great documents, but they’re not ideal when transactions have to be sorted, reconciled and filtered or imported from another. Scanned documents create a further complication since the transaction details might only exist in the form of an image.
Docubrew is a solution that combines statement parsing and OCR for documents that have been scanned. It offers accountants, bookkeepers, and businesspeople a simple way to transform archival financial documentation into actionable transactional information.
This simple remedy can help speed up a tedious workflow by retaining the original bank statement, while making its transaction table available to data you can use.
