The advancement of technology in banking has made bookkeeping tasks easier, however people who handle financial records are aware that it’s not ideal. Clients continue to send statements in PDF format, feeds from banks aren’t working as they should, and historical transactions may not be available. If that happens, someone must transform a document designed for reading into data that accounting software actually use.
The use of a bank statement converter can decrease the amount of repetitive work needed. Docubrew instantly converts the data of your bank statement into structured spreadsheet data.
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A PDF can become the missing piece
Imagine a bookkeeper creating an annual reconciliation for an incoming client. The accounting platform contains recent transactions but some older months are not present. The client downloaded the original PDF statements.
It used to take hours of tedious copying into a spread sheet. A bank statement in PDF format to Excel workflow is a much feasible alternative. Docubrew accepts digital PDFs and scans of paper statements, and then extracts the information about transactions for use in spreadsheets.
For those who have to transfer a bank statement to Excel by hand, reducing the manual transcription eliminates the potential for mistakes in typing.
Be sure to keep the pages that Actually count
The bank statements aren’t only transactions. A 12-page account statement may contain the cover page, account summary and disclosures or notices as well as several pages of actual transactions in the bank.
Docubrew offers users the ability to look at a document before they select relevant pages for conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
After the file has been processed and opened, it is able to be opened with Excel or integrated into accounting platforms such as QuickBooks, Xero, FreshBooks and more.
CSV offers a flexible accounting workflow
CSV is still useful since it is widely supported by spreadsheets, databases and accounting programs. Docubrew can convert a bank statement into CSV according to its transaction table.
The same workflow is able to help firms convert bank statements into CSV when reconstructing historical books, handling a new-client cleanup project, looking into missing transactions, or preparing data for reconciliation.
Accounting firms who need to manage multiple accounts or clients simultaneously can benefit by batch processing.
Financial Documents deserve thought-out privacy safeguards
There are many factors to consider when processing financial records. Bookkeeping and accounting professionals can be concerned about where they process the data because bank statements contain sensitive customer information.
Docubrew has two alternatives. Windows desktop software is used to process files stored on the personal computer of the user. However, the statements cannot be uploaded to be transformed. For those who prefer a browser-based workflow can opt for the encrypted cloud version in which uploaded files are automatically deleted within 24 hours.
The platform could range from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements make excellent documents, however they can be a hassle for transactions that need to be sorted, reconciled removed, or imported into another. Scanned files add an additional complication, as the details of transactions are usually only available in images.
Docubrew is a blend of statements parsing as well as 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.
The result is an easy improvement to an otherwise monotonous procedure: maintain the bank statement as the original financial record and then turn its transaction table into data you can actually use.