Banking technology has helped automate a great deal of bookkeeping however, anyone who deals with financial records knows that automation isn’t always perfect. The bank feeds are not working correctly, the historic transactions may be not available and clients may still send documents in PDF format. This means that someone needs to transform a PDF document meant to be read by a reader into something accounting software actually uses.
A converter for bank statements can remove a lot of the repetitive work required in this process. Docubrew converts bank statement information into spreadsheet-ready data, instead of manually entering description, date, withdrawals and deposits row-by-line.
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When a PDF is the missing piece
Imagine that a bookkeeper is working on an annual reconciliation for the client. The accounting system has recently completed transactions, but some of the older months are missing. Fortunately, the client has downloaded the original PDF statement.
Typically, rewriting during those times could require many hours of copying figures into the spreadsheet. A PDF bank account statement to Excel workflow is a practical alternative. Docubrew can extract information about transactions from digital PDFs and scan bank statements made of paper.
The reduced amount of manual transcription will also reduce the possibility of making errors in typing. This is a big benefit for those working in the field who have to regularly move bank statements into Excel.
Be sure to keep the pages that Actually are Important
Bank statements don’t consist of only transactions. A 12-page statement could include an account cover page, a cover page overview, disclosures, or notices as well as a variety of pages of bank activity.
Docubrew allows users to view a document in a preview and choose relevant pages to convert. This allows users to convert bank statements to Excel without having to add irrelevant content.
Once 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 etc.
CSV Offers a Flexible Accounting Workflow
CSV is still in use because it is widely used by spreadsheets, databases, and accounting programs. If you require an account statement converted to CSV, Docubrew produces structured output that is based on the transaction table found in the statement.
The same workflow can help firms convert bank statement to CSV when reconstructing historical books, handling a new-client cleanup project, investigating missing transactions, or preparing data for reconciliation.
Accounting firms who need to manage clients or multiple statements can make batch processing extremely useful.
Financial documents require careful privacy protections
It’s not the only thing to think about when it comes to processing financial records. Bookkeepers and accountants can be also concerned about the location where they are processing financial records.
Docubrew offers two options. Its Windows desktop application runs documents locally on the user’s personal computer thus the files aren’t transferred to the cloud for conversion. Users who prefer workflows using browsers can opt for the encrypted cloud option. Files uploaded are deleted automatically after 24 hours.
The platform can range that ranges from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is an excellent document, but it’s not ideal if you need to sort, reconcile and filter transactions from other sources. Scanned documents can cause additional complications since the transaction details might only exist as an image.
Docubrew offers a combination of statements parsing as well as OCR for documents that have been scanned. It gives accountants bookkeepers, and businesspeople simple method of transforming archived financial documents into actionable transactional data.
The result is a change in a process that was previously arduous: the bank statement remains as the financial record it was originally but the transaction table transforms into data that you can use.