The advancement of technology in banking has made a lot of bookkeeping tasks easier, however people who handle financial records are aware that it’s not perfect. The feeds of banks aren’t working, the historical transactions may be unavailable, and clients still send statements in PDF. One must convert a document that was designed to be read into the data that accounting software actually uses.
Bank statement converters will help you save time by automating the process. Instead of manually entering dates and descriptions, withdraws, and deposits row by row, Docubrew converts statements into structured spreadsheet-ready data.
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If a PDF is the missing element
Imagine a bookkeeper who is preparing the year-end reconciliation for the first customer. The accounting platform contains recent transactions but some months are not present. The client downloaded original PDF statements.
It was once a process of hours of gruelling copying into the spread sheet. A PDF bank statements to Excel workflow is a more suitable alternative. Docubrew collects data about transactions from paper bills that have been scanned or digital PDFs.
Reduced manual transcription is a great way to reduce the risk of errors in typing for professionals who must transfer bank statements into Excel on a regular basis.
Make sure you keep the pages that Actually Count
Bank statements don’t consist of only transactions. A 12-page statement could include the cover sheet, account summary, disclosures and notices and pages of actual transactions.
Docubrew allows users to see a document’s preview and choose the relevant pages to convert. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
After the file is processed and opened, it is able to be opened using Excel or used with accounting platforms like QuickBooks, Xero, FreshBooks, etc.
CSV Provides a Flexible Accounting Workflow
CSV is still in use because it is widely supported by spreadsheets, databases, as well as accounting applications. Docubrew will convert your bank statements to CSV using the transaction tables included in the statement.
The same workflow helps firms convert bank statements into CSV, regardless of whether they are rebuilding old records, coordinating the cleanup of new clients, investigating missing transaction, or preparing records for reconciliation.
Accounting firms that have to handle clients with multiple statements may benefit from batch processing.
Financial documents should be treated with care and privacy protections
When processing financial records convenience is not the only consideration. Bank statements could contain sensitive client information accounting professionals and bookkeepers might also be concerned about where the processing is taking place.
Docubrew has two methods. Its Windows desktop application processes documents locally on the user’s personal computer, so the statements aren’t stored for conversion. Users who prefer browser-based workflows can choose the cloud encrypted option, in which uploaded files will be deleted automatically 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
The PDF statement is a great record, but it’s a hassle when you have to reconcile, sort or filter transactions in other systems. Scanned documents create a further complication as the transaction data could only be available in the form of an image.
Docubrew is a powerful tool which combines OCR and statement parsing to turn document scans into usable financial data. This offers accountants, bookkeepers and business owners the chance to convert archival financial documents into useful transactional data.
The result is an improvement of a procedure that was previously tedious as the bank statement continues as the financial record it was originally but the transaction table is now data you can use.