Technology from banks has made a lot of bookkeeping simpler, but those who work with financial records realize that it’s not ideal. In the case of feeds from banks, transactions aren’t always available as well as clients continue to send statements as PDFs. When that happens, somebody must transform a document intended for reading into data that accounting software can actually utilize.
A converter for bank statements will take away a significant portion of the repetitive work that is involved in this process. Instead of entering manually dates or descriptions, withdrawals and deposits row by row, Docubrew converts statements into a spreadsheet format that is ready to be used.
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When a PDF becomes the missing piece
Imagine a bookkeeper who is creating the year-end reconciling for the first customer. The accounting platform contains recent transactions, but some of the older months are missing. The client downloaded the original statements in PDF format.
In the past, creating the months of those years would have required long hours of copying and paste numbers into a spreadsheet. A PDF bank account statement to Excel workflow is a more convenient alternative. Docubrew takes transaction data from scanned paper statements or PDFs that are digital.
Reduced manual transcription is a great method to cut down the chance of typing mistakes for those who have to transfer bank accounts to Excel frequently.
Make sure you keep the pages that Actually Are Important
The bank statements aren’t only transactions. A 12-page statement could contain an overview of the account information, disclosures and notifications together with a variety of pages that describe the actual banking transactions.
Docubrew lets users preview the document and select the relevant pages before conversion. It is easier to convert bank statements accounts to Excel because the contents that are not related to the bank account of the account statement are not included in the working data.
The final file can be used with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV allows for a variety of accounting workflow
CSV is still popular due to the fact that spreadsheets as well as databases and accounting software support CSV because they are compatible with spreadsheets, databases and accounting software. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
The same workflow can help firms convert bank statement to CSV when constructing books from the past or handling a clean-up project, analyzing missing transactions, or preparing details to be reconciled.
Accounting firms who need to process multiple clients or statements at the same time can benefit from batch processing.
The financial documents you use should be protected by careful privacy safeguards
Processing financial records is not only about ease of use. Bookkeeping and accounting professionals can be concerned regarding the location of processing because bank statements contain sensitive client information.
Docubrew gives two methods. Windows desktop application converts files locally, on the user’s computer. Users who prefer browser-based workflows can choose the cloud encrypted option, where uploaded files are deleted automatically within 24 hours.
This distinction distinguishes the platform from bank statement to Excel software that relies solely on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements make excellent documents, they’re not ideal to use when transactions need to be sorted or reconciled. Also, they aren’t able to be used to import, filter, or re-organize and so on. Scanned files can pose an issue because the transaction information might only exist as a picture.
Docubrew is a solution that combines statement parsing and OCR for documents that have been scanned. It gives accountants, bookkeepers and businesspeople a simple method of transforming the financial documents of archives into useful transactional information.
This simple fix can speed up an inefficient workflow by preserving the original bank statement while converting its transaction table to data that you can use.