The technology of banking has automated a great deal of bookkeeping however, anyone who deals in financial records will tell you that it’s not perfect. The feeds for banks aren’t functioning properly, and the historical transactions may not be available, and clients could still send statements in PDF format. In the end, someone must alter a PDF document meant to be read by a reader into something accounting software will actually use.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Instead of entering manually dates description, withdrawals, and deposits row by row, Docubrew converts statements into a structured spreadsheet ready for use.
A PDF can become the missing piece
Imagine a bookkeeper creating the year-end reconciling for new customers. The accounting platform contains recent transactions, but some of the older months are not present. Fortunately the client has downloaded the original PDF statement.
In the past, re-creating those months would require many hours of copying and pasting numbers into spreadsheets. The PDF bank statement to Excel workflow provides a more convenient alternative. Docubrew accepts electronic PDFs as well printed paper statements that are scanned and then extracts the information about transactions for use in spreadsheets.
For those who require moving statements from banks to Excel to be processed manually, eliminating manual transcription eliminates an unnecessary opportunity for mistakes in typing.
Keep the Pages That Actually are Important
Bank statements do not consist solely of transactions. A 12-page report could contain an account summary, disclosures, or notices, and several pages of actual banking activity.
Docubrew lets users preview the document and choose the relevant pages before conversion. This makes it easier to convert bank statements to Excel without having to add unrelated content.
Once processed, the resulting document can be opened using Excel or made ready for use using accounting software such as QuickBooks, Xero, and FreshBooks.
CSV offers a flexible accounting Workflow
CSV remains popular because spreadsheets as well as databases and accounting software allow CSV because they are compatible with spreadsheets, databases and accounting software. Docubrew will convert your bank statement to CSV using the transaction tables contained within the report.
The same process is employed to convert bank statements into CSV to serve a variety of reasons, such as reconstructing old books, working on projects to clear the client database that is not being used, analyzing missing transactions, or even preparing the information to be used in reconciliation.
Batch processing can be particularly beneficial for accounting firms that are working through multiple statements or clients simultaneously.
Financial documents require careful security measures
When processing financial records, it isn’t the only consideration. Accountants and bookkeepers might be concerned about the location they use to are processing financial records.
Docubrew provides two approaches. Windows desktop software runs files on the computer used by the user. However, the statements are not uploaded to be transformed. People who prefer working with a browser opt for the cloud version that is encrypted in which uploaded files are instantly deleted within 24 hours.
That choice distinguishes the platform from the bank statement Excel software, which is based solely on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is an excellent record, but it’s inconvenient for those who need to reconcile, sort and filter transactions from other sources. Scanned documents are problematic since transaction data may only exist as an image.
Docubrew offers a combination of statement parsing and OCR for documents that have been scanned. It provides accountants, bookkeepers and businesspeople a simple way to transform archival financial documentation into actionable transactional information.
This results in a boost of a process that was previously tedious: the bank statement remains as the financial record that it was in the beginning however, its transaction table transforms into data that you can use.