The advancements in banking technology have greatly automated bookkeeping. However anyone who handles financial records is aware that the automated system doesn’t always work. The feeds of banks aren’t working, the historical transactions might not be available and customers still send statements in PDF. One must convert a PDF document that was created to be read as the data which accounting software actually uses.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Docubrew instantly converts the data of your bank statement into structured spreadsheet data.
If a PDF is the missing element
Imagine that a bookkeeper creating an annual reconciliation to the client. The accounting platform has recent transactions but some months are missing. Fortunately, the client downloaded the original PDF report.
It used to take many hours of grueling copying an Excel spreadsheet. The bank statement in PDF format to Excel workflow offers a viable alternative. Docubrew can extract information about transactions from digital PDFs, as well as scan bank statements made of paper.
Manual transcription can be a great way to reduce the chance of typing mistakes for professionals who must transfer bank statements to Excel frequently.
Make sure you keep the pages that matter
The bank statements aren’t just composed of transactions. A 12-page paper could have a cover sheet, an account summary, disclosures, notices, and several pages of actual banking activity.
Docubrew gives users the option to view a document in a preview and choose the relevant pages to convert. This makes it easy to convert bank statements to Excel without having to include unrelated content.
The file created can be utilized with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV provides a flexible accounting workflow
CSV remains useful because it’s supported by spreadsheets and databases. Accounting applications also work with CSV. Docubrew can convert a bank statement into CSV by referring to its transaction table.
The same process is employed to transform bank statements to CSV files for various reasons, such as reconstructing historical books, tackling the task of cleaning up clients’ data that has not been used, researching missing transactions, or even preparing the information for reconciliation.
Accounting firms that must process a variety of clients or statements simultaneously can benefit from batch processing.
Financial documents deserve thoughtful privacy safeguards
Processing financial records is not solely about ease of use. Accounting and bookkeeping professionals may be concerned about where they process the data because bank statements contain sensitive details about the client.
Docubrew has two ways to do this. Its Windows desktop software processes documents locally on the computer of the user thus the files aren’t being uploaded to convert them. If you prefer using a browser-based workflow may opt for the cloud version that is encrypted in which uploaded files are instantly deleted within 24 hours.
The platform can be anything that ranges from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements make excellent documents, they’re not ideal to utilize when transactions need to be reconciled or sorted. They can’t also be imported, filtered, re-organized, etc. Scanned documents add an extra complication, as the details of transactions are usually only accessible in images.
Docubrew combines statement parsing with OCR support for scanned documents providing bookkeepers, accountants as well as businesses a practical method of converting financial paperwork that is archived to a usable set of transactional data.
The result is an improvement of a process which was previously cumbersome as the bank statement continues as the financial record that it was in the beginning and its transaction table becomes data you can use.