Banking technology has streamlined much of the bookkeeping, but anyone who works in financial records will tell you that automation isn’t 100% perfect. In the case of feeds from banks, transactions might not be available, and clients still send statements in PDF. If that happens, someone must convert a document that is designed to read data into one that accounting software actually utilize.
The use of a bank statement converter can reduce the amount of repetitive work required. Instead of manually entering dates and descriptions, withdraws, and deposits row-by-row, Docubrew transforms the information on a statement into structured spreadsheet-ready information.
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When a PDF becomes the missing piece
Imagine a bookkeeper making the year-end reconciliation for an incoming customer. The accounting software has the most recent transactions, but some of the older months are not present. The client had downloaded the PDF original statements.
Traditionally, rebuilding the previous months can take many 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 scanned paper statements and extracts transaction data for spreadsheet use.
Reducing manual transcription is also an effective way to lower the chance of errors for those who have to transfer bank statements into Excel regularly.
Be sure to keep the pages that Actually Are Counting
Statements from banks don’t contain only transactions. A 12-page report could include a summary of the account, disclosures and notices as well as a number of pages detailing the actual activities of banking.
Docubrew lets users view the document and pick the relevant pages before conversion. It is much easier to convert statements from bank accounts to Excel since the non-related details of the document are not included in your working dataset.
Once the file has been 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 widely supported by spreadsheets, databases, and accounting applications. Docubrew can 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, whether they are making historical records from scratch, handling cleaning projects for new clients, investigating missing transactions, or compiling information for reconciliation.
Accounting firms that have to work with multiple statements or clients can use batch processing to their advantage.
Financial Documents should be analyzed for privacy protections
Processing financial records isn’t solely about efficiency. Bookkeepers and accountants could be worried about the place they work from to manage financial records.
Docubrew provides two approaches. Its Windows desktop application processes documents locally on the user’s PC and therefore the data isn’t being uploaded to convert them. The cloud version that is encrypted is available to those who prefer to work in a browser. Files uploaded are deleted automatically within 24 hours.
The platform may range that ranges from Excel software to bank statements that depend solely on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is a great document, however it’s a pain if you need to sort, reconcile filters, sort, or import transactions elsewhere. Scanned documents add an extra problem, since the information about transactions is usually only available in images.
Docubrew is a blend of statement parsing and OCR for documents that have been scanned. It gives accountants, businesspeople, and bookkeepers a simple way to transform archival financial documentation into actionable transaction data.
This simple remedy can help speed up the efficiency of a lengthy process by keeping the original bank statement, while changing its transaction table into data that you can use.
