The technology of banking has significantly automated bookkeeping. However those who deal with financial records should be aware that automated systems don’t always perform as expected. The feeds of banks aren’t working, the historical transactions may be unavailable, and clients still send statements as PDFs. One must convert a PDF document that was designed to be read into the data which accounting software actually uses.
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Utilizing a bank statement converter will reduce the time-consuming work. Docubrew converts bank statement data into spreadsheet-ready data, instead of manually entering description, date deposits, withdrawals row-by-line.
When a PDF Becomes the Missing Piece
Imagine that a bookkeeper preparing an annual reconciliation for the client. The accounting platform includes latest transactions, however, a number of older months are not included. Fortunately the client has downloaded the original PDF statements.
It was once a process of long hours of tedious copying an Excel spreadsheet. The PDF bank statement to Excel workflow offers a more convenient alternative. Docubrew can extract transaction information from digital PDFs as well as scanned paper bank statements.
For professionals who often have to transfer the bank’s statement into Excel by hand, reducing the manual transcription also removes an unnecessary opportunity for typing errors.
Make sure you keep the pages that matter
Bank statements don’t consist only of transactions. A 12-page account statement may include an overview of the account as well as disclosures and other notices, together with a variety of pages that describe the actual banking transactions.
Docubrew lets users preview the document, and choose the pages that are relevant prior to conversion. It is easier to convert statements from bank accounts to Excel because the contents that are not related to the bank account of the document are not included in your working dataset.
The file created can be utilized using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting Workflow
CSV is still useful since it is widely supported by databases, spreadsheets, and accounting software. If you need a bank statement that you can convert to CSV, Docubrew produces structured output based on the transaction table contained within the report.
The same workflow could help firms convert bank statements into CSV when constructing books from the past or handling a clean-up project, investigating missing transactions, or creating details to reconcile.
Accounting firms who need to process multiple clients or statements simultaneously can benefit from batch processing.
Financial documents deserve thoughtful security measures
Processing financial records isn’t only about convenience. Bookkeepers and accountants can be worried about the location they use to handle financial records.
Docubrew offers two options. Windows desktop software is used to process files stored on the computer of the user. The statements are not uploaded to be converted. Users who prefer a browser-based workflow can opt for the encrypted cloud version in which uploaded files are instantly deleted within 24 hours.
That choice distinguishes the platform from bank statement to Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are fantastic documents, however they can be a hassle when transactions need to be sorted, reconciled, and filtered or imported from another. Scanned files add a new complication as the transaction data can only be present in the form of an image.
Docubrew offers statement parsing in conjunction with OCR support for documents scanned that give 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 a straightforward improvement to a previously tedious process: use the bank statement as the original financial record, while transforming its transactions table into data that you can actually work with.